Economics

1. Explain the analogy between the intertemporal optimumof the consumer (choice

1. Explain the analogy between the intertemporal optimumof the consumer (choice between current consumption C and future consumption C) and the optimum of the consumer at a moment…

1. Explain the difference between a policy protecting competition and a policy p

1. Explain the difference between a policy protecting competition and a policy protecting competitors. Use examples to illustrate your explanation. 2. Using marginal analysis, exp…

1. Explain the difference between discretionary and automatic spending by the go

1. Explain the difference between discretionary and automatic spending by the government. Please give an example of discretionary spending and automatic spending. 2. Calculate the…

1. Explain the difference in movement along the line of a graph and a shift of t

1. Explain the difference in movement along the line of a graph and a shift of the line of a graph.                                      2. What is the formula for a percentage ch…

1. Explain the fiscal policy tools available to governments to alter macroeconom

1. Explain the fiscal policy tools available to governments to alter macroeconomic activity. Your answer should include both depth and breadth and should include a discussion of t…

1. Explain the importance of the loan able funds market to basic GDP. What does

1. Explain the importance of the loan able funds market to basic GDP. What does a lower interest rate mean for investors? what does interest rate mean for savers? 2. List the fact…

1. Explain the meaning of elasticity? What are the different types of elasticiti

1. Explain the meaning of elasticity? What are the different types of elasticities? Of what use are these elasticities to business ( in other words to Total Revenue) ? 2. A firm s…

1. Explain the meaning of elasticity? What are the different types of elasticiti

1. Explain the meaning of elasticity? What are the different types of elasticities? Of what use are these elasticities to business ( in other words to Total Revenue) ? (3 marks) 2…

1. Explain the nature of the exchange-rate risk for each of the following, from

1. Explain the nature of the exchange-rate risk for each of the following, from the perspective of the U.S. firm or person. In your answer, include whether each is a long or short…

1. Explain the profit-maximizing production decision of a monopoly firm. Describ

1. Explain the profit-maximizing production decision of a monopoly firm. Describe the assumptions about the market structure of monopoly, how these assumptions relate to the marke…

1. Explain the purpose for the existence of financial markets 2. Explain the pur

1. Explain the purpose for the existence of financial markets 2. Explain the purpose for the existence of foreign exchange markets. 3. In the purchase or sale of foreign currency …

1. Explain what a “fiscal externality” is, and give an example of fiscal externa

1. Explain what a “fiscal externality” is, and give an example of fiscal externality. Explain in words why it is important to know whether a reduction in taxable income following …

1. Explain what are royalty rate contracts and fixed-fee contracts. What is the

1. Explain what are royalty rate contracts and fixed-fee contracts. What is the main difference between them? 2. Give an example of each of the two types of contracts. Explain whi…

1. Explain what fiscal policy is and how it works. What kind of fiscal policy wo

1. Explain what fiscal policy is and how it works. What kind of fiscal policy would be most appropriate in response to a stock market collapse? What kind of fiscal policy would be…

1. Explain what would happen to the equilibrium price and quantity of oranges if

1. Explain what would happen to the equilibrium price and quantity of oranges if the supply of oranges increased while the demand for oranges decreased? 2. will a price ceiling al…

1. Explain why drugs are covered and protected by copyright law but recipes are

1. Explain why drugs are covered and protected by copyright law but recipes are not. 2. What are the arguments for extending copyright protection to the fashion industry? How migh…

1. Explain why economics is a study of choices. Why do we have to make choices?

1. Explain why economics is a study of choices. Why do we have to make choices? 2. What are the economic resources? Why are they scarce? 3. Outline the differences between macroec…

1. Explain why risk-neutral people can make a profit off both risk-averse and ri

1. Explain why risk-neutral people can make a profit off both risk-averse and risk-seeking people. You must use original numerical examples and EV equations to demonstrate demonst…

1. Explain why the E.U. countries, most notably France and Italy, experience hig

1. Explain why the E.U. countries, most notably France and Italy, experience higher rates of unemployment during normal economic times than the Labyrinth does. 2. Watch the film c…

1. Explain why the MR curve is below the demand curve for a single price seller.

1. Explain why the MR curve is below the demand curve for a single price seller. Can the MR curve equal the demand curve for a downward sloping demand curve? Under what conditions…

1. Explain why the consumer will not choose the consumption bundle at point v. M

1. Explain why the consumer will not choose the consumption bundle at point v. Malt 2. Explain why the consumer will not choose the consumption bundle at point z IC IC2 3. Explain…

1. Explain why the consumer will not choose the consumption bundle at point v. M

1. Explain why the consumer will not choose the consumption bundle at point v. Malt 2. Explain why the consumer will not choose the consumption bundle at point z IC IC2 3. Explain…

1. Explain why the equilibrium level of national income is at the point where th

1. Explain why the equilibrium level of national income is at the point where the real expenditures curve crosses the 45-degree line. 2. Draw a real expenditures curve on a graph …

1. Explain why the labor demand curve slopes down from left to right. In other w

1. Explain why the labor demand curve slopes down from left to right. In other words, why does a business firm's labor demand curve have a negative slope? 2. Briefly explain the d…

1. Explain why the labor demand curve slopes down from left to right. In other w

1. Explain why the labor demand curve slopes down from left to right. In other words, why does a business firm's labor demand curve have a negative slope? 2. Briefly explain the d…

1. Explain why the marginal cost curve intersects the AVC and ATC at their minim

1.       Explain why the marginal cost curve intersects the AVC and ATC at their minimums.   2.       Because of the increase in world demand for grains, Midwest farmers are now e…

1. Extended Solow Model with Population Growth y=k^1/4 MPK-1/4 k -3/4) depreciat

1. Extended Solow Model with Population Growth y=k^1/4 MPK-1/4 k -3/4) depreciation rate 0.06, while n = 0.02 a. Write down steady state condition b. Find the golden rule saving r…

1. FILL IN THE BLANK: In a financial sense, economies of scale are a barrier to

1. FILL IN THE BLANK: In a financial sense, economies of scale are a barrier to entry for small-scale producers because they cannot compete with large-scale producers based on ___…

1. Faced with (economic models, scarcity) people must make choices 2. (Macroecon

1. Faced with (economic models, scarcity) people must make choices 2. (Macroeconomics; Microeconomics) is the study of the choices the individuals and businesses make and the way …

1. Factor-intensity reversals describe a situation in which the production of a

1. Factor-intensity reversals describe a situation in which the production of a product may be land-intensive in one country, and relatively labor intensive in another (at given r…

1. Farmer Brian has 3 acres of land which he farms efficiently. Each acre can su

1. Farmer Brian has 3 acres of land which he farms efficiently. Each acre can support 10 apple trees. However the 3 acres differ in their ability to support orange trees. He can g…

1. Federal Reserve Banks fund their operations through a. fees charged to banks

1. Federal Reserve Banks fund their operations through                 a. fees charged to banks that use their services.                 b. interest on the securities they own.   …

1. Federal versus state and local government The U.S. federal government collect

1. Federal versus state and local government The U.S. federal government collects about two-thirds of the taxes in the U.S. economy, while state and local governments collect the …

1. Feeling wealthier; Spending more? Access the Bureau of Economic Analysis Web

1. Feeling wealthier; Spending more? Access the Bureau of Economic Analysis Web site, www.bea.gov interactively. Select "Interactive Data Tables," which is listed under Publicatio…

1. Figure 1 illustrates that if this country wishes to move from its current pro

1. Figure 1 illustrates that if this country wishes to move from its current production point (labeled "Current") and have 10 more tons of food, it can do this by producing: Figur…

1. Figure 18-2 shows the widget market before and after an excise tax is imposed

1. Figure 18-2 shows the widget market before and after an excise tax is imposed. The tax per widget equals a. $5 b. $20 c. $25 d. $30 2. Figure 18-2 shows the widget market befor…

1. Fill in the blank: Based on the graph from section, if a household consumes b

1. Fill in the blank: Based on the graph from section, if a household consumes but does not produce either of the goods, a price decrease for one good leads to a __________ of the…

1. Fill in the blank: Organizations within the same field tend to A. become incr

1. Fill in the blank: Organizations within the same field tend to A. become increasingly idiosyncratic over time B. become more similar over time C. become highly profitable D. em…

1. Fill in the missing information in the table below: Marginal Marginal Total m

1. Fill in the missing information in the table below: Marginal Marginal Total monetary utility of Total monetary Number of utility ofMonetary utility monetary utility of cookies …

1. Fill in the missing information wherever there is a question mark. (15 points

1. Fill in the missing information wherever there is a question mark. (15 points) Income Tax Ave Tax Rate Marginal Rate 10,000 0 ? ? 20,000 1500 ? ? 30,000 4000 ? ? 40,000 7500 ? …

1. Fill in the missing information wherever there is a question mark. 2. Consump

1. Fill in the missing information wherever there is a question mark.                    2. Consumption is $6 trillion, investment is $2 trillion and government purchases are $2.5…

1. Financial institutions in the U.S. economy Suppose Lorenzo would like to inve

1. Financial institutions in the U.S. economy Suppose Lorenzo would like to invest $3,000 of his savings. One way of investing is to purchase stock or bonds from a private company…

1. Financial institutions in the U.S. economy Suppose Yakov would like to invest

1. Financial institutions in the U.S. economy Suppose Yakov would like to invest $6,000 of his savings. One way of investing is to purchase stock or bonds from a private company. …

1. Financial markets are a. the market where capital goods are traded. b. market

1. Financial markets are a. the market where capital goods are traded. b. markets where funds accumulated by one group are made available to another group. c. banks interact to le…

1. Find 3M’s Revenue 2. Find 3M’s Total Cost 3. How much did 3M pay in interest?

1. Find 3M’s Revenue 2. Find 3M’s Total Cost 3. How much did 3M pay in interest? 4. What is the price of 3M’s capital in terms of percentage interest rate? Diversified technology …

1. Find analytically the level of aggregate production and prices for N = 5. Ass

1. Find analytically the level of aggregate production and prices for N = 5. Assume that the equilibrium is symmetric which means that in equilibrium all firms produce the same am…

1. Find the present value of 7 equal payments of $500 starting at the end of yea

1. Find the present value of 7 equal payments of $500 starting at the end of year 7ifi-8%. ($1640.10) . What is the future value of this same cash flow at the end of year 13 Do th…

1. Find three examples of monopolistic competition (four firm concentration rati

1. Find three examples of monopolistic competition (four firm concentration ratios of 20 to 40 percent) at www.census.gov/epcd/www/concentration.html. Which characteristic of mono…

1. Firms can maintain their product differentiation by A. advertising B. managin

1. Firms can maintain their product differentiation by A. advertising B. managing their brand C. protecting their trademark D. all options are correct 2. Monopolists face A. perfe…

1. Firms can maintain their product differentiation by A. advertising B. managin

1. Firms can maintain their product differentiation by A. advertising B. managing their brand C. protecting their trademark D. all options are correct 2. Monopolists face A. perfe…