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Suppose again that the Third National Bank has reserves of $20,000 and checkable deposits of $100,000. The reserve ratio is 20 percent. The bank now sells $5000 in securities to the Federal Reserve Bank in its district, receiving a $5000 increase in reserves in return. What level of excess reserves does the bank now have? Why does your answer differ (yes, it does!) from the answer to question 9?
Dx = Px-2 I1.5 PY1.5. From the information above, what are the values of price elasticity Income elasticity How much will D change if Px is cut by 5% and income rises by 10%
According to the Lewis model, what is the magnitude of surplus labor? Do the producers in this sector make their decisions on the basis of profit maximization
A young engineer wishes to become a millionarie by the time he is 60 years old. He believes that by careful investment he can obtain a 15% rate of return. He plans to add a uniform sum of money to his investment program each year, beginning on his..
"We should impose a 20 percent luxury tax on expensive automobiles (those with a sales price of $50,000 or more) in order to collect more tax revenue from the wealthy." Will the burden of the proposed tax fall primarily on the wealthy Why or why n..
Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time workers looking for full-time jobs, 10. What is the size of the labor fo..
For both sets of calculations, compare the firm's output price and the calculated average variable cost and average total cost. Should the firm shutdown immediately when the total fixed cost equals $1,000,000 Should the firm shut down immediately ..
A mortgage company lends the Miller family $100,000 to buy a house worth $105,000. During the next year, there is deflation and all prices, including house prices, unexpectedly fall by 10%. 1. After the first year, who is better off
1. john davis a recent ie graduate from tennessee technological university bought an suv for 30000 with a down payment
Based on this example, discuss when price discrimination is likely to be socially useful and when it does not have much to recommend it.
Your utility function for present and future consumption is given by U(P,F)=P*F. You earn an income of $50,000 in the present, and will subsequently earn an income of $50,000 in the future. Will you be a net borrower or net saver.
What generalization can you make from this exercise?
Consider a situation similar to that in Figure 7-3, in which two countries that can produce a good are subject to forward-falling supply curves. In this case, however, suppose that the two countries have the same costs, so that their supply curves..
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