Economics

Suppose that elementary education creates a positive externality. If the governm

Suppose that elementary education creates a positive externality. If the government does not subsidize education, then Question 22 options: 1) the equilibrium quantity of educatio…

Suppose that elimination of tariffs on agricultural products means that 1,000 fa

Suppose that elimination of tariffs on agricultural products means that 1,000 farm workers lose jobs that pay an average of $20,000 per year. At the same time, because of the impo…

Suppose that entry of new firms into an industry significantly increases the mar

Suppose that entry of new firms into an industry significantly increases the market demand for a key input. If supply of the key input is very price inelastic, then, for each firm…

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

Suppose that every driver faces a 1% probability of an automobile accident every year. An accident will on average cost each driver $10,000. Suppose there are 2 types of individua…

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

Suppose that every driver faces a 1% probability of an automobile accident every year. An accident will, on average, cost each driver $10,000. Suppose there are two types of indiv…

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

Suppose that every driver faces a 1% probability of an automobile accident every year. An accident will on average cost each driver $10,000. Suppose there are 2 types of individua…

Suppose that fax machines are made available in Never laud. Companies are deckli

Suppose that fax machines are made available in Never laud. Companies are deckling whether to install a fax machine. It costs USD 500 to install the machine. Company's benefits fr…

Suppose that fax machines are made available in Neverland. Companies are decidin

Suppose that fax machines are made available in Neverland. Companies are deciding whether to install a fax machine. It costs USD 500 to install the machine. Company's benefits fro…

Suppose that firms in a perfectly competitive industry are earning economic prof

Suppose that firms in a perfectly competitive industry are earning economic profits. Over time, A. other firms enter the industry so that the price rises and economic profits fall…

Suppose that firms in an industry have the following cost function: C = 32 + 0.5

Suppose that firms in an industry have the following cost function: C = 32 + 0.5q, and the industry faces an inverse demand curve of P = 90-Q. a. If the industry is competitive, f…

Suppose that fiscal policy changes output faster than it changes the price level

Suppose that fiscal policy changes output faster than it changes the price level. How might such timing play a role in the theory of political business cycles? Is this a valid rol…

Suppose that fiscal policy changes output faster than it changes the price level

Suppose that fiscal policy changes output faster than it changes the price level. How might such timing play a role in the theory of political business cycles? Is this a valid rol…

Suppose that fiscal policy changes output faster than it changes the price level

Suppose that fiscal policy changes output faster than it changes the price level. How might such timing play a role in the theory of political business cycles? Is this a valid rol…

Suppose that fiscal policy changes output faster than it changes the price level

Suppose that fiscal policy changes output faster than it changes the price level. How might such timing play a role in the theory of political business cycles? Is this a valid rol…

Suppose that fiscal policy changes output faster than it changes the price level

Suppose that fiscal policy changes output faster than it changes the price level. How might such timing play a role in the theory of political business cycles? Is this a valid rol…

Suppose that fiscal policy changes output faster than it changes the price level

Suppose that fiscal policy changes output faster than it changes the price level. How might such timing play a role in the theory of political business cycles? Is this a valid rol…

Suppose that fiscal policy changes output faster than it changes the price level

Suppose that fiscal policy changes output faster than it changes the price level. How might such timing play a role in the theory of political business cycles? Is this a valid rol…

Suppose that five car companies are considering borrowing $5,000 each to buy a n

Suppose that five car companies are considering borrowing $5,000 each to buy a new car assembly machine. If a company decides to buy the new machine, then they must borrow $5,000.…

Suppose that from a new checkable deposit, First National Bank holds two million

Suppose that from a new checkable deposit, First National Bank holds two million dollars in vault cash, eight million dollars on deposit with the Federal Reserve, and nine million…

Suppose that government spending makes private firms more productive; for exampl

Suppose that government spending makes private firms more productive; for example, government spending on roads and bridges lowers the cost of transportation. This means that ther…

Suppose that government spending makes private firms more productive; for exampl

Suppose that government spending makes private firms more productive; for example, government spending on roads and bridges lowers the cost of transportation. This means that ther…

Suppose that hotel management is able to price-discriminate and that it decides

Suppose that hotel management is able to price-discriminate and that it decides to rent rooms to consumers in segments A and B at different prices. What price would it charge in e…

Suppose that hourly wages paid in the auto industry and produce (farm products)

Suppose that hourly wages paid in the auto industry and produce (farm products) industries under competition and autarky are $30, and $18 respectively, in the context of this cove…

Suppose that in 1984 the total output in a single-good economy was 10, 000 bucke

Suppose that in 1984 the total output in a single-good economy was 10, 000 buckets of chicken. Also assume that in 1984 each bucket of chicken was priced at $16. Finally, assume t…

Suppose that in 1984 the total output in a single-good economy was 10, 000 bucke

Suppose that in 1984 the total output in a single-good economy was 10, 000 buckets of chicken. Also assume that in 1984 each bucket of chicken was priced at $16. Finally, assume t…

Suppose that in 1984 the total output in a single-good economy was 10,000 bucket

Suppose that in 1984 the total output in a single-good economy was 10,000 buckets of chicken and the price of each bucket of chicken was $10. In 2005 the price per bucket of chick…

Suppose that in 1984 the total output in a single-good economy was 10,000 bucket

Suppose that in 1984 the total output in a single-good economy was 10,000 buckets of chicken and the price of each bucket of chicken was $16. In 2005 the price per bucket of chick…

Suppose that in 1984 the total output in a single-good economy was 12,000 bucket

Suppose that in 1984 the total output in a single-good economy was 12,000 buckets of chicken and the price of each bucket of chicken was dollar 16. In 2005 the price per bucket of…

Suppose that in 1984 the total output in a single-good economy was 7,000 buckets

Suppose that in 1984 the total output in a single-good economy was 7,000 buckets of chicken. Also suppose that in 1984 each bucket of chicken was priced at $10. Finally, assume th…

Suppose that in 2010 the government collected $300 billion in revenue and spent

Suppose that in 2010 the government collected $300 billion in revenue and spent $370 billion, while in 2011 the government revenue increased to $360 billion and its spending fell …

Suppose that in 2011 a country produces 20 computers at a price of $2,000 each a

Suppose that in 2011 a country produces 20 computers at a price of $2,000 each and 4 cars at a price of $ 5,000 each. In 2012 a country produces 15 computers at a price of $ 3,000…

Suppose that in 2011, per-person GDP in Singapore was $53,591, and in Egypt, it

Suppose that in 2011, per-person GDP in Singapore was $53,591, and in Egypt, it was $5,547, as measured in 2005 purchasing power parity U.S. dollars.It is accurate to say that the…

Suppose that in 2013 PECO generated 100 billion kilo-watt-hours (kwh) of electri

Suppose that in 2013 PECO generated 100 billion kilo-watt-hours (kwh) of electricity that it provided to its customers at a charge of $.08 per kwh. Suppose that as a result of exc…

Suppose that in 2013, Congress passed and the president signed a new simple inco

Suppose that in 2013, Congress passed and the president signed a new simple income tax with a flat rate of 25 percent on all income over dollar20,000 (no tax on the first dollar20…

Suppose that in 2013, the U.S. runs a current account surplus of $514 billion. I

Suppose that in 2013, the U.S. runs a current account surplus of $514 billion. If other factors did not affect the U.S. balance of international indebtedness, it would decrease by…

Suppose that in 2015, a typical U.S. student attending a state supported college

Suppose that in 2015, a typical U.S. student attending a state supported college bought 8 textbooks at a price of $90 per book and enrolled in 28 credit hours of coursework at a p…

Suppose that in 2015, geologist discover large reserves of oil under the tundra

Suppose that in 2015, geologist discover large reserves of oil under the tundra in Alaska. These reserves have a market value estimated at $50 billion at current oil prices. Oil c…

Suppose that in 2021, the GDP is $18,000 billion, the net factor payment is $300

Suppose that in 2021, the GDP is $18,000 billion, the net factor payment is $300 billion, the consumption is $11,000 billion, and the government purchase is $3200 billion. Suppose…

Suppose that in Columbia, one unit of labor can produce 4 tons of papayas or 2 t

Suppose that in Columbia, one unit of labor can produce 4 tons of papayas or 2 tons of bananas, while in Brazil one unit of labor can produce either 2 tons of papayas or 4 tons of…

Suppose that in February the market price of a pound of Italian cheese in the U.

Suppose that in February the market price of a pound of Italian cheese in the U.S. was $3. This resulted in revenue to Italian cheese producers of $1,650 (i.e., 550 pounds importe…

Suppose that in Horsehead, Massachusetts, the cost of operating a lobster boat i

Suppose that in Horsehead, Massachusetts, the cost of operating a lobster boat is $5,000 per month. Suppose that if x lobster boats operate in the bay, the total monthly revenue f…

Suppose that in Monrovia the consumer market basket is defined as three oranges,

Suppose that in Monrovia the consumer market basket is defined as three oranges, si cupcakes, and two quarts of milk. Furthermore, suppose you have the following price information…

Suppose that in New Crankshaft, Pennsylvania, the quality distribution of the 2,

Suppose that in New Crankshaft, Pennsylvania, the quality distribution of the 2,000 used cars on the market is such that the number of used cars of value less than V is V/2. Origi…

Suppose that in New Crankshaft, Pennsylvania, the quality distribution of the 4,

Suppose that in New Crankshaft, Pennsylvania, the quality distribution of the 4,000 used cars on the market is such that the number of used cars of value less than V is V/2. Origi…

Suppose that in November the money supply was $200 billion, velocity was 10 and

Suppose that in November the money supply was $200 billion, velocity was 10 and real GDP was $400 billion. What is the price level? Suppose you believe in the quantity theory of m…

Suppose that in Sydemere, Kentucky, the quality distribution of the 6,000 used c

Suppose that in Sydemere, Kentucky, the quality distribution of the 6,000 used cars on the market is such that the number of used cars of value less than V is V/2 . Original owner…

Suppose that in a closed economy GDP is $11trillion, consumption is $7 trillion,

Suppose that in a closed economy GDP is $11trillion, consumption is $7 trillion, taxes are $3 trillion and thegovernment runs a surplus of $1 trillion. What are private savingand …

Suppose that in a competitive labor market, demand for workers is Q D = 10,000 -

Suppose that in a competitive labor market, demand for workers is QD = 10,000 - 100W and the labor supply is QS = 2000 + 1900W, where Q is the quantity of workers employed and W i…

Suppose that in a competitive wheat market, the forces of supply and demand dete

Suppose that in a competitive wheat market, the forces of supply and demand determine a price of $6 for a bushel of wheat. There are 50 farmers in this market, and each farmer pro…

Suppose that in a given month in France, there are 18 million people of working

Suppose that in a given month in France, there are 18 million people of working age. Of these, only 14 million have jobs. Of the remainder, 2 are looking for work, 1.5 million hav…