Question: M&Ms are "colorful button shaped chocolates." Suppose that from our point of view as a consumer, each M&Ms: M&Ms is equally likely to have one of c different colors. We randomly sample 3 M&Ms: the two have the ...
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Question: 1. Explain the analogy between the intertemporal optimum of the consumer (choice between current consumption C0and future consumption C1) and the optimum of the consumer at a moment of time (choice between cons ...
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Question: From earlier chapters you will recall that technological change shifts the average cost curves. Draw a graph showing how technological change could influence intra-industry trade. The response must be typed, si ...
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Question: During the Great Recession, like any other economic downturns, as unemployment rises, aggregate income declines causing a major decline in tax collections. On the other hand, with the rise in unemployment, spen ...
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Question: What is the equivalent amount in year ten of an expenditure of $5,000 in year one, $6,000 in year two, and amounts increasing by $1,000 per year through year ten? The response must be typed, single spaced, must ...
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Question: A government passes a family-friendly law that no companies can have evening, nighttime, or weekend hours, so that everyone can be home with their families during these times. Analyze the effect of this law usi ...
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Question: Which entities in the Federal Reserve System control the discount rate? Reserve requirements? Open market operation? In what ways can the regional Federal Reserve Banks influence the conduct of monetary policy? ...
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Question - Suppose a country has a national debt of $5,000 billion, a GDP of $10,000 billion, and a budget deficit of $100 billion. 1) How much will its new national debt be? Compute its debt-GDP ratio. 2) Suppose its GD ...
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Question: Airlines routinely overbook flights, selling more tickets than seats available. If too many ticketed passengers show up, they offer payments to volunteers who are willing to give up their seats. These take such ...
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Question: One consequence of increases in business litigation over the past 20 years has been an increase in the percentage of lawyers who work as employees of firms rather than as independent practitioners. Explain why ...
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