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Question: Would you continue to work after winning a lottery prize of $50,000 a year for life? Would you change schools, jobs, or career objectives? What factors besides income influence work decisions?
Microeconomics, Economics
Question: For each of the following examples, draw a representative isoquant. What can you say about the marginal rate of technical substitution in each case? a) A firm can hire only full-time employees to produce its ou ...
Fran has a monthly income of $60. She spends her money making telephone calls (measured in minutes) at a price px and on other composite good y, whose price has been normalized to one, i.e., py = $1. Her mobile phone com ...
Question: Suppose the federal government decides to levy a sales tax of $1.00 per pie on pizza. Briefly explain whether you agree with the following statement, made by a representative of the pizza industry: The pizza in ...
Question: In order to analyze the effect of imposing tariff at HOME country, (i.e. when it is large enough to exert an influence over world prices), Draw a typical Foreign Market Supply and Demand curves first. Then, dri ...
Question: In the solow growth model, with labor-augmenting technological progress and population growth, if the production function is y= k^1/2, s= .15, depreciation= .02, n=.02 and g= .01: a. what is the steady-state le ...
Question: From 1992 to 1997, the unemployment rate in the US declined from 7.5% to 4.9%, while at the same time it rose from 8% to over 12% in continental western Europe. (A) What factors caused the unemployment rates to ...
Question: Think about the business cycle: during a recession, unemployment increases; it decreases in an expansionary phase. Explain what happens to TANF, SNAP, and Medicaid programs at each phase of the business cycle ( ...
Question: Suppose you were assigned the task of choosing a price that maximizes economic surplus in a market. What price would you choose? Why? The response must be typed, single spaced, must be in times new roman font ( ...
Question: Costs associated with the manufacture of miniature high-sensitivity piezoresistive pressure transducers .-is, exist73, 000 per year. A clever industrial engineer found that by spending exist 16, 000 now to reco ...
Question: Discuss the following - What feature(s) of Medicare would cause an economist to say that "Medicare stinks as insurance"? Medicare supplement insurance is available from the commercial market and most commonly c ...
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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
Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As