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Upon taking his first job at college your Dad earns an annual salary of $38,000 and set a goal to earn $10000 per year. If his salary increases at an average annual rate of 12% how long did it take to reach his goal?
A. 8.54 B. 26.31 C. He has not earned $100,000 in a single year D. 2.63
describe national income
A recent article estimated that the elasticity of the rate of gonorrhea with respect to the price of beer is about 0.8. If this estimate is correct, are unprotected sex and beer su
What is the impact on the economy if price ceiling or price floor were removed? Ans) Price ceiling is government system or laws setting price floors or ceilings that forbid the
Q. Define Nominal wages? The nominal wage is wage per unit of time in the currency used in the country- what we usually just call wage. When we mention wage in macroeconomics w
A student is taking two courses, History and Math. The probability that the student will pass the history course is .60, and the probability of passing the math class is .70. The p
How are individual makes choices? Fundamental principles behind the individual choices are as follows: 1. Resources are scarce . 2. The real cost of anything is what y
Assume that the following data describe the condition of the banking system: Total Reserves $200 billion Transactions Deposited $700 billion
You win a lottery. You have the choice of two ways to be paid. If you pick Payout Scheme X, you get $2,750 today. If you pick Payout Scheme Y, you get three payments: $1,000 today,
Despite the economic progress that the U.S. has observed in the past century, the standard of living remains extremely low in many countries. Why are some countries relatively weal
illustrate and discuss the implications of various market structures (competitive and non-competitive)for price determination.
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