Question - Jiffy-Pol Consultants is paid $1,000,000 for each percentage of the vote that Senator Sleaze receives in the upcoming election. Sleaze's share of the vote is determined by the number of slanderous campaign ads ...
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Question: Assume that in long-run equilibrium the minimum point of the LRAC curve for a table manufacturer's tables in $200 per table. Under conditions of monopolistic competition, will the long-run price of a table be a ...
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Question: One of the most fact-filled publications you can buy is the Daily Racing Form. 72 For every horse running that day it contains about 30 facts about each of its last ten races, including the name of the jockey, ...
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Question: Suppose the production function is Q = K 1/2 L 1/2 . Assume K = 16 and L-4. What is the total output? What is the average product of capital? What is the average product of labor? What is the marginal product o ...
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Question: Suppose that there are two industries and two consumers. Each industry uses both capital K and labor L in the production process, and each produces a different good, X in one and Y in the other. Consumers get u ...
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Question: In March 2002, President George Bush signed into law a tariff increase of up to 30% on certain steel imports. Obviously the steel companies were pleased, and fabricated metal producers were displeased. Now go b ...
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Question: If banks borrow from the Fed's discount window, what would happen to the money supply (assume no offsetting Fed actions)? Explain. True, false, or uncertain: The Federal Reserve prints money (currency) to activ ...
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Question: The dollar declined sharply in 1973-4 and 1977-8, and those declines were accompanied by sharply higher inflation. However, when the dollar declined even more sharply in 1986-8, the rate of inflation did not ri ...
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Question: In 2001 and 2002, political opinion was bitterly divided between the Republicans, who wanted to cut high marginal personal income tax rates and offer retroactive benefits to corporations by canceling the altern ...
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Question: The total assets at the beginning of the year for company XYZ was $60,000 and total liabilities of $40,000. During the year the business recorded $100,000 in revenues, $55,000 in expenses, and dividends of $10, ...
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