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Suppose you were to develop an economic model of criminal activities, say,the hours spent in criminal activities (e.g., selling illegal drugs). What variables would you consider in developing such a model? See if your modelmatches the one developed by the Nobel laureate economist Gary Becker.
According to the life-cycle hypothesis, what would be the effect of the social security system on your average propensity to consume out of (disposable) income? Is the credibility of the social security system an issue here?
Use the Microsoft SQL Server Management Studio to submit the SQL statement in Review Question 10.3 to create the PICTURE table in the MEDIA database.
You are a newspaper publisher. You are in the middle of a one-year rental contract for your factory that requires you to pay $500,000 per month, and you have contractual labor obligations of $1 million per month that you can't get out of.
b) What is the rate of inflation between 2007 and 2008 if the money supply in 2008 is 1,100 instead of 1,050 c) What is the rate of inflation between 2007 and 2008 if the money supply in 2008 is 1,100 and output is 2008 is 12,600
Labor is the only input used by a perfectly competive firm. It hires workers for $50 a day. The firm's production function is shown in the following Table. Each unit output sells for $10. a.) complete the table to show the marginal product oflabor ..
In the late 1990s a growing number of economists argued that world policymakers were focusing too much on fighting inflation. The economists also argued that the technical level of potential output had risen. Show their argument using the AS/AD mo..
Explain the difference between purely private and public goods and how it applies to environmental problems faced by developing countries. What are the implications of the free-rider problem for allocation of a public good?
Is this game like a prisoners' dilemma or different in some crucial way? Explain. Which country would benefit more from a free-trade agreement?
Suppose that 1984 the total output in a single good economy was 7000 buckets of chicken. Also suppose that in 1984 each bucket of chicken was priced at $10. Finally, assume that in 2004 the price per bucket of chicken was $16 and that 22,000 bucke..
If there are fewer than four machines, this employee can use her extra time in other productive ways. Draw an isoquant for checking out 200 customers an hour where the variable inputs are checkout clerks and self-scan checkout machines.
Mike's Bicycle Factory builds specialty bicycles with the following long-run cost function: TC = 2.5( Q3 ). Plot Mike's ATC and MC curves for quantities 1 through 5.
If more than one change occurred, then decompose the change into smaller pieces so that your explanation has a step-by-step character to it.
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