Economics

2. According to Statistics Canada, 10.7 million hectares of land in Canada were

2. According to Statistics Canada, 10.7 million hectares of land in Canada were used for wheat or corn farming in 2016. Of those 10.7 million hectares, farmers used 9.4 million he…

2. Accounting for an open-market operation Aa Aa Assume that the following balan

2. Accounting for an open-market operation Aa Aa Assume that the following balance sheet portrays the state of the banking system. The banks currently have no excess reserves Asse…

2. Accounting versus economic profit During a particular year, an advertising fi

2. Accounting versus economic profit During a particular year, an advertising firm has the following costs: $575,000 in wages and salaries paid to employees; $70,000 in rental pay…

2. Activities included (and not included) in the calculation ofGDP The gross dom

2. Activities included (and not included) in the calculation ofGDP The gross domestic product (GDP) of the United States is defined as the all in a given period of time. Based on …

2. After landing your dream engineering job, you want to buy a home. To be finan

2. After landing your dream engineering job, you want to buy a home. To be financially responsible, your monthly loan and property tax payment should not exceed 32% of your dispos…

2. Alice is about to open her newest amusement park, Amuse World. Amuse World fe

2. Alice is about to open her newest amusement park, Amuse World. Amuse World features a number of exciting attractions: you can ride the rapids in the Blue Suede Chutes, climb th…

2. Alternative price indexes Because there isn\'t one single measure of inflatio

2. Alternative price indexes Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how p…

2. Alternative price indexes Because there isn\'t one single measure of inflatio

2. Alternative price indexes Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how p…

2. Americana and Mexican workers can each produce 10 T-shirtsper day. An America

2. Americana and Mexican workers can each produce 10 T-shirtsper day. An American worker can produce 18 dozen brownies per day,whereas a Mexican worker can produce 10 dozen browni…

2. Americans over the age of 65 are covered by Medicare. For them, the medical m

2. Americans over the age of 65 are covered by Medicare. For them, the medical market is a third-payer market. What is a third-party payer market? How does total quantity of medic…

2. An angel investor is considering investing in one of two start-up businesses

2. An angel investor is considering investing in one of two start-up businesses and is evaluating the expected returns along with the risk of each option in order to choose the be…

2. An argument for active local economic development policy is that there are in

2. An argument for active local economic development policy is that there are increasing returns to scale in local labor markets. Therefore, there are local spillover benefits fro…

2. An athlete carefully watches her intake of calcium, protein, and calories. He

2. An athlete carefully watches her intake of calcium, protein, and calories. Her breakfast diet consists mainly of milk and cereal, whose prices and nutrient contents appear in t…

2. An auto parts manufacturing company incurs AED 80 per each auto part in mater

2. An auto parts manufacturing company incurs AED 80 per each auto part in material cost and AED 25 per each auto part in labor cost. The cost of setting up the machine for manufa…

2. An economy is currently made up of a firm that produces bread, a firm that pr

2. An economy is currently made up of a firm that produces bread, a firm that produces butter, and a consumer who consumes both bread and butter. Current production is 100 units o…

2. An economy is currently made up of a firm that produces bread, a firm that pr

2. An economy is currently made up of a firm that produces bread, a firm that produces butter, and a consumer who consumes both bread and butter. Current production is 100 units o…

2. An investor is planning to make a new investment: it will pay $500 every year

2. An investor is planning to make a new investment: it will pay $500 every year starting in 2018 for 3 years. The nominal discount rate for this investment is 15%. The price inde…

2. Analyze the following regression results from a regression explaining aggrega

2. Analyze the following regression results from a regression explaining aggregate U. S. consumption from 1929-2003. C-5+935 Yd+.015 (W/P) where C = aggregate real consumption Yd-…

2. Analyzing a foreign exchange market A key simplification in thinking about in

2. Analyzing a foreign exchange market A key simplification in thinking about international trade is to work with only two countries. In this case, we are focusing on the United S…

2. Analyzing macroeconomic events with the IS curve. Consider the following even

2. Analyzing macroeconomic events with the IS curve. Consider the following events in the macroeconomy. Show how to think about them using the IS curve (be detail and specific abo…

2. Ang Electronics, Inc., has developed a new DVDR. If the DVDR is successful, t

2. Ang Electronics, Inc., has developed a new DVDR. If the DVDR is successful, the present value of the payoff (when the product is brought to market) is $34.2 million. If the DVD…

2. Annual maintenance, upkeep. S 75,000 and program management 3. Annual parks d

2. Annual maintenance, upkeep. S 75,000 and program management 3. Annual parks development budget 4. Annual loss in commercial development $2,000.000 ( 5. State sales tax rebates …

2. Answer True or False for each of the following. Most economists want a 0% tar

2. Answer True or False for each of the following. Most economists want a 0% target for unemployment. The current natural rate of unemployment is thought to be somewhere around 5%…

2. Answer the following questions on the basis of the three sets of data for the

2. Answer the following questions on the basis of the three sets of data for the country of North Vaudeville: a. Which set of data illustrates aggregate supply in the immediate sh…

2. Answer the following questions on the basis of the three sets of data for the

2. Answer the following questions on the basis of the three sets of data for the country of North vaudeville: a. Which set of data illustrates aggregate supply in the immediate sh…

2. Answer the following questions on the basis of the three sets of data for the

2. Answer the following questions on the basis of the three sets of data for the country of North Vaudeville: LO2 a. Which set of data illustrates aggregate supply in the immediat…

2. Applying the AD/AS Model A. A favorable report on the economic outlook improv

2. Applying the AD/AS Model A. A favorable report on the economic outlook improves consumers' feelings about the economy. What is the short-run effect of this report? (3 points) B…

2. Assume a firm under Monopoly in the Short Run. MC ATC MR Quantity Where, As $

2. Assume a firm under Monopoly in the Short Run. MC ATC MR Quantity Where, As $10, B= $8, C= $7, M=10(units), N=12, Q#14, R=18 A. The profit-maximizing output for this monopoly f…

2. Assume a firm’s inverse demand for its product is P = 150 – Q and total cost

2. Assume a firm’s inverse demand for its product is P = 150 – Q and total cost is TC = 500 + 50Q for a monopolistically competitive firm: a. Find the firm’s marginal revenue (MR)…

2. Assume an oligopolist confronts two possible demand curves for its own output

2.   Assume an oligopolist confronts two possible demand curves for its own output, as illustrated below. The first (A) prevails if other oligopolists don’t match price changes. T…

2. Assume only two countries, China and the US. If China decides to stimulate gr

2. Assume only two countries, China and the US. If China decides to stimulate growth through a policy of running a large export trade surplus, does China’s national savings increa…

2. Assume output (real GDP) is produced with capital and labor with the Cobb-Dou

2. Assume output (real GDP) is produced with capital and labor with the Cobb-Douglas production function: Y = AK" N", . An individual's flow of utility, as a function of consumpti…

2. Assume supply and demand are defined as follows and that all the A and B valu

2. Assume supply and demand are defined as follows and that all the A and B values are defined as in class: Qs -BSP-As A. (1 Point) Assume supply and demand both increase. Without…

2. Assume that a consumer has the utility function U(x,y) = (3x+1)y, where x and

2. Assume that a consumer has the utility function U(x,y) = (3x+1)y, where x and y represent the quantities of two goods, X and Y. For parts (a)-(h), assume that good X costs pX=$…

2. Assume that a consumer has the utility function U(x,y) = 3x+y, where x and y

2. Assume that a consumer has the utility function U(x,y) = 3x+y, where x and y represent the quantities of two goods, X and Y. The consumer has I=$60 to spend on the two goods, a…

2. Assume that a government decides to reduce emissions from 30 tonnes per year

2. Assume that a government decides to reduce emissions from 30 tonnes per year to 15 tonnes per year. The table demonstrates the marginal abatement costs of three firms, related …

2. Assume that an oil firm (Exxon Mobil Canada) is considering its short- run de

2. Assume that an oil firm (Exxon Mobil Canada) is considering its short- run demand for labour. The price (S U.S. per barrel (bbl) of Brent) of oil has fallen from $110/bbl to $4…

2. Assume that both labor and capital exhibit diminishing returns. Suppose you c

2. Assume that both labor and capital exhibit diminishing returns. Suppose you can hire an additional unit of labor for $10, and she can product 50 units. You could also buy an ad…

2. Assume that imports increase supply. In terms of demand, supply and consumer

2. Assume that imports increase supply. In terms of demand, supply and consumer surplus, why would consumers prefer more imports? 3. Assume that exports increase demand. In terms …

2. Assume that the demand for welding services is D(P) = 34-P/2, and the inverse

2. Assume that the demand for welding services is D(P) = 34-P/2, and the inverse supply function is PS(Q) = 4 + 10Q + Q2. This supply curve represents the long run supply curve of…

2. Assume that the following data characterize a hypothetical economy: money sup

2. Assume that the following data characterize a hypothetical economy: money supply- $200 billion; quantity of money demanded for transactions - $150 billion; quantity of money de…

2. Assume that two firms have the following marginal abatement costs (with abate

2. Assume that two firms have the following marginal abatement costs (with abatement measured in tons of pollution): MAC1 =5AC1 MAC2=3AC2 a. The government would like to reduce po…

2. Assume the following Keynesian model: AE = C + I + G + (X - M) C = 600 + .9Y

2. Assume the following Keynesian model: AE = C + I + G + (X - M) C = 600 + .9Yd I = 200 G = 100 X = 200 M = 100 + .1Yd T = 100 a. Find the aggregate expenditure function and equi…

2. Assume the following data for a country: total population, 500; population un

2. Assume the following data for a country: total population, 500; population under 16 years of age or institutionalized, 120; not in labor force, 150; unemployed, 23; part-time w…

2. Assume the following game is played one time only. Based on the information i

2. Assume the following game is played one time only. Based on the information in the payoff matrix below, PNC Bank and Citizens Bank are considering an implicit collusive agreeme…

2. Assume the following: i. The public holds no currency. ii. The ratio of reser

2. Assume the following: i. The public holds no currency. ii. The ratio of reserves to deposits is 0.1. iii. The demand for money is given by Md=$Y(.8-4i) Initially, the monetary …

2. Assume the presence of linear single peaked utility functions, i.e. utility f

2. Assume the presence of linear single peaked utility functions, i.e. utility functions in which the utility to an individual from a policy outcome is declining in a linear fashi…

2. Assume the reserve requirement of an economy\'s banking system is 10% and all

2. Assume the reserve requirement of an economy's banking system is 10% and all banks extend loans until excess reserves equal zero. Initially, total reserves of the banking secto…

2. Assume the return on a 1 year domestic bank CD equals 3%. The return on a 1 y

2. Assume the return on a 1 year domestic bank CD equals 3%. The return on a 1 year European bank CD equals 5%. Assume there is no default risk and no other transactions to preven…

2. Assume you are a farmer who grows corn and cotton. In the past, you have plan

2. Assume you are a farmer who grows corn and cotton. In the past, you have planted half of your land in corn and half in cotton. In recent years, the government has mandated that…