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Jane's parents are considering setting up a trust fund; essentially money Jane would receive on her 18th birthday. Jane's parents are considering two options. The first is to set up a restricted education trust fund whereby money will be provided to Jane to cover 4 years of college education but only if it is used exclusively for her college education. The second option is an unrestricted trust whereby Jane could, upon turn 18, use the money on education, if she wanted to, or on any other goods she'd choose to buy. a. First, use indifference curves and budget constraint analysis to illustrate the preference conditions whereby Jane would be better off with the unrestricted trust fund rather than the restricted trust fund. Will she buy more or less than 4 years of college? Explain. b. Second, use indifference curves and budget constraint analysis to illustrate the preference conditions whereby Jane would be just as well off with either the restricted or unrestricted trust fund. Will she buy more or less than 4 years of college? Explain.
What is the best age to start receiving Social Security retirement benefits? To help make that decision, use the Social Security Break-Even Calculator available at the web-link posted to compare the cumulative Social Security retirement benefits paid..
A company is considering investing in a new printing press, and is looking at one of two options. The first printing press has an initial cost of $30,000, a salvage value of $2000, and annual operating costs of $1500 per year. Manually calculate the ..
Consider a consumer who has utility function u(x, y) = min{2x, 3y} where x, y are amounts of goods X, Y consumed respectively. (a) If px = 1, py = 1, consumer has total budget w = 10. What’s the optimal consumption bundle of this consumer?
Lets denote the price of a nonmaturing bond (called a consol) as Pb. The equation that indicates this price is Pb = l/r, where l is the annual income the bond generates.and r is the nominal market interest rate. What happens to the bond’s price if th..
The graph below can be used to analyze how a market for tradeable pollution allowances might work. Your task is to fill in the table that follows the graph and identify the features indicated by the boxes and call-outs. The incremental cost of reduci..
q1. 1. suppose mpc is 0.8 initially. households then change their behavior so that the mpc falls to 0.75. what happens
How do banks create money, and what could the Federal Reserve do to reduce this credit creation process, and in what circumstances might it want to do this?
Explain in words why an employer would never want to stop increasing the quantity of labor employed when the marginal product is above the average product of labor.
What is the numerical value of the partial derivative of the function with respect to advertising spending (be sure to also include the + or – sign, but I do not want the symbol for this)? The amount budgeted for advertising spending is cut by $100,0..
The economy has no government expenditure and does not have any foreign trade at present but it does have investment expenditure, which is constant at €150. Determine the equilibrium level graphically
Two common drawbacks of Pigouvian subsidy mentioned in the literature are related to monetisation and measurement of social cost (Baumol) and reciprocity of social cost (Coase). What alternatives to Pigouvian taxes are proposed in the literature? Hav..
Use a supply and demand diagram to show how that response will change the combined amount of consumer surplus and producer surplus in the market for cashews. Given the initial equilibrium price P1 and quantity Q1, use the shader tool provided 'Initia..
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