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Question: 1. What is a positive economic statement? What is a normative economic statement? Provide an example of each.
2. Is it important to build completely realistic economic models? Explain your response.
Microeconomics, Economics
Question: From mid-1996 to mid-1999, the personal saving rate fell from 5% to 3%. What were the principal factors that caused this decline? The response must be typed, single spaced, must be in times new roman font (size ...
Question: From 1993 through 1995, compensation per hour in the US rose an average of 2.2% per year, down from 5.2% the previous three years. Much of this represented the disappearance of the efficiency wage. Partly as a ...
Question: Why countries often import and export varieties of the same type of goods? Can Ricardian or H-O Models explain this phenomenon? Relate the vertical and horizontal intra-industry trade to Monopolistic competitio ...
Question: Using the Specific Factors Model (i.e. Labor is mobile but Land and Capital are specific to agriculture and manufacturing) what would be the effect of foreign labor immigration on wage rate and the output of bo ...
Question: 1- Suppose Kevin is operating a cake shop at a perfectlycompetitive market in South Korea and producingat the shutdown point. a. Draw graphs to show and explain the price andquantity of Kevin's cakes, as well a ...
Question: Monty Hall (the host of Lees Make a Deal) has presented Fred with the choice of three doors. Behind two of the doors are "booby prizes." A new car is behind the other door. Fred selects a door (#1, for example) ...
Question: Suppose that the tax (Ti) paid by individual i is the following function of his or her income (Xi): Ti = 0.1(Xi - 2000) = 0.1Xi - 200 (i.e. there is a flat tax of 10% on all income over 2000). You know that tot ...
Assignment: Pay Discrimination Why do women earn less than men? In this assignment you will look at the data on women's and men's pay, and explore reasons for the pay differential. Respond to the 3 key questions below. W ...
Question: Supply and Demand, A Process of Coordination It seems like the economy was not working very well in NY and NJ after Sandy. On the other hand, it would be hard to imagine that any economy would be unfazed by a S ...
Question: A country's economy is described in Table 2. Using information in Table 2, answer questions (2.1), (2.2), (2.3) and (2.4) Phillips curve p -p-1=-0.55x( U-Un) Natural rate of unemployment uN = 5% Previous year's ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As
Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int
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