Draw the supply and demand for desks. Illustrate the effects of an increase in the price of doors. Explain why the curve(s) moved as drawn. What happens to the price charged for desks, the quantity sold, the consumer surplus, and the producer surplus? Briefly state how you got each answer
You collect unadjusted, quarterly data on nominal wages, unemployment, and prices in the United States from 1940 through 2011 from the United States Bureau of Labor and Statistics. Wages are the median wage in the United States in each quarter, the unemployment rate is reported for each quarter, and price is an index based on the Consumer Price Index in each quarter. After examining your […]
Which of the following statements is true about supply-side economics? a. The main change made by the tax laws of 1981 and 1986 was to increase marginal tax rates in order to balance the budget b. The Laffer Curve says that, if marginal tax rates fall, tax revenues will rise, and the budget deficit will decrease c. If the tax laws of 1981 and 1986 […]
Question A neighbor who refuses to help pay for a street light that is intended to help reduce crimeA student who refuses to buy a college catalogA law enforcement officer who receives a uniform from the police department
A monopolistically competitive market is characterized by very high barriers to entry. a few firms producing either differentiated or identical products. a single seller of a unique product that has few or no substitutes. many small sellers selling a differentiated product. many small sellers selling an identical product.
Graph the income and substitution effects for a price increase in good X in the following cases: A. X is a normal good and Y is a normal good. B. X is an inferior good and Y is a normal good. C. X is a Giffen good, and Y is a normal good.
“In the run-up to accession, the EU asked the newcomers from Central and Eastern Europe to phase out all discriminatory tax incentives, in particular those for foreign investors,” writes Katinka Barysch of the Centre for European Reform. “To keep their economies attractive, many of the new members have responded by cutting overall tax rates for both domestic and foreign investors. Since these cuts are not […]
1) Arthur decided to start his own web design company. The company can generate $150,000 per yearin revenue. Arthur’s costs are $20,000 per year in equipment and software licenses plus other $10,000per year in rent for the office. If Arthur was not working at his own company, he would be working at hisprevious company YTZ designs making $120,000 per year in salary and benefits.C) If […]
Which two investment options would be best if you are 20 years old, just starting to save, and want to retire when you are 70? Consider the kind of investment, rate of return, level of risk, and other factors.
Robinson produces and consumes fish (F) and coconuts (C) using the technologyF2 + C2 = 200.a. His preferences can be represented by the utility function U = FC. He does not trade with anyone. What quantitiesof fish and coconuts will he produce and consume? Show your logic and calculations clearly.b. Graph this equilibrium and label it “A.†Put F on the x-axis.c.Suppose Robinson begins to […]
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