1. Suppose that reduced barriers to international financial transactions cause an increase in the economy’s supply of capital. Explain, step-by-step, how the economy adjusts to arrive at a new long-run equilibrium. 2. How does an increase in inflation affect the nominal exchange rate? II NEED HELP IN ANSWERING THESE QUESTIONS
What are some examples of behavior that at one time were victimless crimes that are no longer criminal? What are some examples of behavior that were not victimless crimes that now are crimes?(Please respond in at least 250 words.) What are some examples of behavior that at one time were victimless crimes that are no longercriminal? What are some examples of behavior that were not […]
1. If Playland charged everyone same flat uniform price per ride (no entry fee; each ride has to be ticketed), a. what is the profit-maximizing price ($ per ride)? b. what is its profit on an average day ($ per day)? Assume zero fixed cost. 2. If Playland charged everyone one flat uniform price per ride (no entry fee) for guests 48″ or taller and […]
Suppose the output (q) produced by different amounts of labour (L) hired by a firm is given below: (a) Calculate the marginal and average product labour levels from 1 to 6 (show your full calculations for L = 4). Graph the marginal and average products of labour. {Hint: Marginal numbers are often plotted halfway between levels since they apply to the move between these two […]
1. After doing some calculating, a firm had these data: Absolute change in quantity demanded is 40 units and quantity demanded averages 2,000 units. Absolute price change is $5 and the average price is $100. Using the formula on page 460 in our text, show the calculation for the price elasticity of demand. Is demand elastic or inelastic?
The national income accounts measure productivity, spending, and income; but these accounts were not designed to measure economic welfare. Discuss aspects of economic welfare ignored in GDP. HINT: Do a “Google†search on the Genuine Progress Indicator and compare this with GDP in terms of measuring economic welfare. The national income accounts measure productivity, spending, and income; but these accounts were notdesigned to measure economic […]
Q-4: GDP and Happiness 30 unread replies. 30 replies. a) What problems may one encounter in comparing the GDP of different nations? b) Does money buy happiness? Can well-being be measured? Does growth equal progress? If you were to add three (3) new indicators, what would they be? Give your reasons why they are important.
A. As the price of tickets rises from $200 to $250, what is the price elasticity of demand for (i) business travelers and (ii) vacationers? (Use the midpoint method in your calculations.) B. If an airline company facing the above demand prefers higher revenue, will you recommend it to raise the price to $250? Suppose that the demand from vacationers has increased to be ten […]
1. Estimate the Cobb-Douglas production function Q= aLB1KB2, Where Q= output; L= labor input; K = capital input; and a, B1, and B2 are the parameters to be estimated.2. Test whether the coefficients of capital and labor are statistically significant. 3. Determine the percentage of the variation in output that is “explained” by the regression equation.4. Determine the labor and capital estimated parameters and give […]
Question 14 When firms invest less because people are saving less, it is called the: a. international trade effect. b. wealth effect. c. interest rate effect. d. investment effect. e. savings effect. Today, not all regions of the world enjoy the same level of annual real per capita gross domestic product (GDP). The regions that have higher levels of real per capita GDP probably also […]
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