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Please state which function of money is being used by each of the following activities. Please explain the reasoning behind each answer.
(a) Brenda uses her last $20 bill to buy lunch.
(b) Brenda buys a $1,000 Savings Bond.
(c) Brenda puts her house on the market and sets an asking price at $300,000.
(d) Brenda deposits $400 into her banking account.
If the unemployed workers in the newly unionized sector spill over into the nonunion sector? How many employees will be hired in that sector? D. What is the union relative wage advantage? What is the true absolute effect?
Jaynet spends $25,000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firm – one offer was for $105,000 per year, and the other was for $85,000. What are her accounting profits? What are h..
Suppose that the cost of eradicating polio from a society of 1,000 persons is $5 per person. Also suppose that only two persons in the society will benefit from that policy, and the benefit to each of those persons is $2,000. Then what is the social ..
Consider the Cobb-Douglas production function . a. Write this in growth-rate terms. b. Next, define this in terms of per capita growth and identify the contributions of the components of per capita growth. c. If the growth rate of capital per worker ..
Discuss the process that must occur in order for government to proclaim eminent domain to assume control over the private property of citizens. How does eminent domain differ from the concept of government zoning? How does eminent domain differ from ..
Describe and explain the perspectives of three stakeholders. Include a discussion of the main arguments they put forward and the resolution/s they would opt for.
At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces and faces an average total cost of $10. At the market price of $12.50 per unit, the firm's marginal cost curve crosses the ..
Suppose your utility over donuts (D) and sodas (S) is given by U(D, S) = D0.5S0.5 + 10. a. Calculate the marginal rate of substitution (MRS) between donuts and sodas. b. Suppose you have income of Y dollars to spend on donuts and sodas each week. Den..
Suppose you deposit $10,000 in a savings account that earns 8% nominal annual rate for 5 years. The interest will be compounded semi-annually. What are the periodic and the effective annual rates? What is the amount of money in the account at the end..
You arranged the subsequent information to use in evaluating the financial feasibility of starting your own agency.
The unintended consequences of raising minimum wage from $8 to $12 per hour will create more unskilled unemployment in the economy. True or False, explain. The unintended consequences of raising minimum wage from $8 to $12 per hour will create more u..
For several years, Albert acted as a collection agent for Paulette. Recently, Paulette revoked Albert’s authority to collect payments from customers. However, neither Paulette nor Albert told any customers of Albert’s termination. Yesterday, Theresa,..
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