Economics

Suppose by using the same amounts of resources, U.S. can produce 1 ton of potato

Suppose by using the same amounts of resources, U.S. can produce 1 ton of potatoes (P) or 3 tons of wheat (W) per hour, and Ireland can produce 1 ton of potatoes (P) or 2 tons of …

Suppose car sellers know if the car they are selling is good or bad, but buyers

Suppose car sellers know if the car they are selling is good or bad, but buyers do not. Half of all potential sellers have good cars, and half of all potential sellers have bad ca…

Suppose cars are taxed according to the amount of pollution they emit per gallon

Suppose cars are taxed according to the amount of pollution they emit per gallon of gasoline consumed. We would expect to observe all of the following EXCEPT A an increase in prod…

Suppose cell phones are available in two basic types: Flashy or Dull. Furthermor

Suppose cell phones are available in two basic types: Flashy or Dull. Furthermore, suppose cell phone owners fall into two basic categories: Hipsters or Grannies. Let .55 be the p…

Suppose certain fireworks are legal in a residential area on the Fourth of July.

Suppose certain fireworks are legal in a residential area on the Fourth of July. The fireworks have been approved for safety, but they do cause noise pollution so their use must b…

Suppose changes in autonomous consumption affect investment while changes in aut

Suppose changes in autonomous consumption affect investment while changes in autonomous government spending do not. In this case, identical changes in autonomous consumption and a…

Suppose chartered banks decide to greatly reduce the availability of student loa

Suppose chartered banks decide to greatly reduce the availability of student loans that are guaranteed against default by the Canadian government. a.) What would you expect to hap…

Suppose china decides to pay large subsidies to any chinese company that exports

Suppose china decides to pay large subsidies to any chinese company that exports goods or services to the united states. As a result these companies are able to sell products in t…

Suppose computer chips are made locally AND sold both locally and overseas. And

Suppose computer chips are made locally AND sold both locally and overseas. And suppose the government wants to increase exports of them. The government decides to either give a s…

Suppose consumer tastes and preferences shift from a desire to go skiing to an i

Suppose consumer tastes and preferences shift from a desire to go skiing to an interest in snowboarding. If skis and snowboards are produced by different firms, then firms that pr…

Suppose consumers consider bagels and cream cheese to be complementary goods. Wh

Suppose consumers consider bagels and cream cheese to be complementary goods. Which of the events below will cause a rise in both the quantity sold of bagels and the price of crea…

Suppose customers believe that the good they are buying is of high quality with

Suppose customers believe that the good they are buying is of high quality with a probability of p, and of low quality with probability 1 – p. A high quality good is valued at vH …

Suppose demand and supply are given by Q d = 100 - P and Q s = 2P + 25. Equilibr

Suppose demand and supply are given by Qd = 100 - P and Qs = 2P + 25. Equilibrium Price is 25 and Equilibrium Quantity is 75. (a) Determine the quantity demanded, the quantity sup…

Suppose demand and supply are given by Q d = 40 - P and Q s = 1.0P - 10. a. What

Suppose demand and supply are given by Qd = 40 - P and Qs  = 1.0P - 10. a. What are the equilibrium quantity and price in this market? Equilibrium quantity:   Equilibrium price: $…

Suppose demand and supply are given by Q d = 50 - P and Q s = 1.0 P - 10. a. Wha

Suppose demand and supply are given by Qd = 50 - P and Qs  = 1.0P - 10. a. What are the equilibrium quantity and price in this market? Equilibrium quantity: ? Equilibrium price: $…

Suppose demand and supply are given by Q d = 60 - P and Q s = 1.0 P - 10. a. Wha

Suppose demand and supply are given by Qd = 60 - P and Qs  = 1.0P - 10. a. What are the equilibrium quantity and price in this market? Equilibrium quantity: Equilibrium price: $ b…

Suppose demand and supply are given by Q^d =60 - P and Q^S = P-20. a. What are t

Suppose demand and supply are given by Q^d =60 - P and Q^S = P-20. a. What are the equilibrium quantity and price in this market? Equilibrium quantity: Equilibrium price: $ b. Det…

Suppose demand and supply are given by Qd = 50 - P and Qs = 0.5P - 10. a. What a

Suppose demand and supply are given by Qd = 50 - P and Qs = 0.5P - 10. a. What are the equilibrium quantity and price in this market? a. What are the equilibrium quantity and pric…

Suppose demand and supply are given by Qd = 50 - P and Qs = 1.0P - 10. Determine

Suppose demand and supply are given by Qd = 50 - P and Qs = 1.0P - 10. Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of…

Suppose demand conditions in industries X and Y are identical but that productiv

Suppose demand conditions in industries X and Y are identical but that productivity increases by 5% in industry X and 2% in industry Y. If economy-wide productivity and the averag…

Suppose demand for a product is determined by its price, consumers’ income, and

Suppose demand for a product is determined by its price, consumers’ income, and the price of a related good. Use Q for demand, P for price, M for income, and PR for price of relat…

Suppose demand for good A is given by: QS = 500-10 PA + 2Pa + 0.71 where PA is t

Suppose demand for good A is given by: QS = 500-10 PA + 2Pa + 0.71 where PA is the price of good A, PB is the price of some other good B, and I is income Assume that PA is current…

Suppose demand is given by PD = 20 .03QD and supply is given by PS = 6 + .04QS.

Suppose demand is given by PD = 20 .03QD and supply is given by PS = 6 + .04QS. (a) What is the equilibrium quantity? (b) What is the equilibrium price? (c) What is the consumer s…

Suppose during a week a store sold 100 dress shirts of a particular brand when p

Suppose during a week a store sold 100 dress shirts of a particular brand when price was $120.00 In order to clear the inventory, the store declared a sale "buy one get one free".…

Suppose during the first year of the new administration, several events occur: •

Suppose during the first year of the new administration, several events occur: • Consumer demand for clothing increases • OSHA rescinds costly worker safety regulations that had n…

Suppose each firm in the market for giant cookies (a) has an identical cost 1. F

Suppose each firm in the market for giant cookies (a) has an identical cost 1. Find the ATC, AVC, and MC for a giant cookie manufacturer with this 2. At what market price will a f…

Suppose each firm in the market for giant cookies (a) has an identical cost 1. F

Suppose each firm in the market for giant cookies (a) has an identical cost 1. Find the ATC, AVC, and MC for a giant cookie manufacturer with this 2. At what market price will a f…

Suppose each firm in the market for giant cookies (a) has an identical cost 1. F

Suppose each firm in the market for giant cookies (a) has an identical cost 1. Find the ATC, AVC, and MC for a giant cookie manufacturer with this 2. At what market price will a f…

Suppose each member of a diamond cartel consisting of five producers agrees to s

Suppose each member of a diamond cartel consisting of five producers agrees to sell 100 carats of diamonds a day. With 500 total carats being sold, the market price is $1,000 per …

Suppose economies A and B have the same initial level 7. of GDP per capita at $1

Suppose economies A and B have the same initial level 7. of GDP per capita at $15,000, and each economy begins with a constant growth rate of 1% per year. (Neither country has goo…

Suppose every driver faces a 1% probability of an automobile accident every year

Suppose every driver faces a 1% probability of an automobile accident every year. An accident will, on an average cost each driver S10,000. Suppose there are two types of individu…

Suppose everyone is highly productive, college educated, hard-working, etc. Peop

Suppose everyone is highly productive, college educated, hard-working, etc. People still differ in their preferences for jobswhile some would prefer to be doctors than lawyers, ot…

Suppose everyone is highly productive, college educated, hard-working, etc. Peop

Suppose everyone is highly productive, college educated, hard-working, etc. People still differ in their preferences for jobswhile some would prefer to be doctors than lawyers, ot…

Suppose everyone is highly productive, college educated, hard-working, etc. Peop

Suppose everyone is highly productive, college educated, hard-working, etc. People still differ in their preferences for jobswhile some would prefer to be doctors than lawyers, ot…

Suppose expansionary fiscal policy is implemented to close a recessionary gap, a

Suppose expansionary fiscal policy is implemented to close a recessionary gap, and unexpectedly the economy experiences a positive supply shock. The fiscal policy ends up being to…

Suppose expectations are such that the rate of inflation for the foreseeable fut

Suppose expectations are such that the rate of inflation for the foreseeable future is pegged at 2%. Further suppose that lenders and investors are seeking a 4% real return. 37. M…

Suppose expectations are such that the rate of inflation for the foreseeable fut

Suppose expectations are such that the rate of inflation for the foreseeable future is pegged at 2%. Further suppose that lenders and investors are seeking a 4% real return. 37. M…

Suppose expected inflation was 2% and actual inflation was 4%. Then the ex post

Suppose expected inflation was 2% and actual inflation was 4%. Then the ex post real interest rate was ---- than the ex ante real interest rate and there was a redistribution of w…

Suppose exports = $1.5 trillion, imports = $2 trillion, and GDP = $10 trillion.

Suppose exports = $1.5 trillion, imports = $2 trillion, and GDP = $10 trillion. In this case, net exports equals + $3.5 trillion + $0.5 trillion - $0.5 trillion - $3.5 trillion A …

Suppose f(x)-xA0.5. (Again, the\"\" means the exponent sign. This means this fun

Suppose f(x)-xA0.5. (Again, the"" means the exponent sign. This means this functions raises any positive number to the exponent one half. This is equivalent to taking the square r…

Suppose farmer Jim sells $5 000 of wheat to Gina\'s Bakery. Gina uses the wheat

Suppose farmer Jim sells $5 000 of wheat to Gina's Bakery. Gina uses the wheat to make flour and then pizza dough which she sells to Joey's Pizzeria for $11 000. Joey's Pizzeria u…

Suppose farmers with apple orchards left their apples on the ground to rot one f

Suppose farmers with apple orchards left their apples on the ground to rot one fall rather than sell them in the market. This behaviour could most likely be explained by ____ A.  …

Suppose fears over gas shortages pass,and demand for gasoline returns to its pre

Suppose fears over gas shortages pass,and demand for gasoline returns to its pre-Katrina levels at D1.What could keep prices at $3.00 per gallon in the next sixmonths? A.   Damage…

Suppose firms 1 and 2 must simultaneously choose between charging a low price or

Suppose firms 1 and 2 must simultaneously choose between charging a low price or a high price for their individual products. The payoff matrix is illustrated below: Firm 2 Low P H…

Suppose firms in an industry hire unskilled and skilled labor.Unskilled labor is

Suppose firms in an industry hire unskilled and skilled labor.Unskilled labor is a substitute for a capital and skilled labor is a complement with capital.A decrease in the real p…

Suppose foreign exchange markets anticipate a devaluation for country A. Further

Suppose foreign exchange markets anticipate a devaluation for country A. Further assume that policy makers in country A continue to fix its nominal exchange rate. In order to main…

Suppose gold (G) and silver (S) are substitutes for each other because both serv

Suppose gold (G) and silver (S) are substitutes for each other because both serve as hedges against inflation. Suppose also that the supplies of both are fixed in the short run (Q…

Suppose graph 2 represents a consumer\'s budget line for cell phone service. a.

Suppose graph 2 represents a consumer's budget line for cell phone service. a. What is causing the discontinuity (kink) in the budget line? What do you know about the price of pho…

Suppose have just opened a store to sell espresso machines. Both you and a compe

Suppose have just opened a store to sell espresso machines. Both you and a competing store buy this machine from a manufacturer for SI 30 each. Your competitor who has a store of …

Suppose higher-level educational output is measured by how many college students

Suppose higher-level educational output is measured by how many college students graduate with an undergraduate degree in a year. Also, suppose that number of instructors in colle…