Get college assignment help at uniessay writers 0605(a) suppose we have a production function that is cobb-douglas and f(x1,x2)=x1^(1/2)x2^(3/2) i)derive the marginal product of x1 at the point (x1,x2) ii)what happens to the marginal production of x1 with samll increase in X1 if we hold X2 constant? iii) derive the marginal product of X2 at the point(x1,x2) iv) what is the technical rate of subsititution bewteen x1 and x2? v)does this technology demonstrate diminishing technical rate of substitution vi)what type of return to scale dose this technology exhibit? why?
equilibrium in commodity markets is attained when y = rs.850-2500r; and equilibrium is attained inequilibrium in commodity markets is attained when y = rs.850-2500r; and equilibrium is attained in the money markets when y = rs.500 5m 1000r, where y is real income, r is the rate of interest and m is real money supply full employment equilibrium exists at rs.650 real income. if the nominal money supply is rs.200 and the price level is 1, (i) is the economy operating with inflationary or deflationary condition?(ii)At what price level will there be simultaneous equilibrium in all markets?
During World War II, both Germany and England had plans for a paper weapon: they each printed the other’s currency, with the intention of dropping large quantities by airplane.Why might this have been an effective weapon?
Evaluate the relative importance of economies of scale and comparative advantage in causing the following:Much of the world’s most expensive wine comes from France.
A monopolistically competitive firm faces a demand curve depicted by the formula P = 24 – 4Q, where P represents price and Q is quantity demanded. 4. When the monopolistically competitive firm lowers price from $16 to $12, how much does total revenue change? A. Total revenue decreases by $8. B. Total revenue increases by $4. C. Total revenue does not change. D. Total revenue increases by $12. E. Total revenue increases by $8. F. Total revenue decreases by $4
“”Farmers (landowners) are good stewards of the soil. The only thing EPA needs to be concerned about is the off-site costs of soil erosion which do not enter the farmers” decision calculus.” A. Do farmers (landowners) have an incentive to maintain the productivity of their land over time? Why?
In the national income accounts, depreciation is called consumption of fixed capital negative investment capital taxation loss due to wear?
Which of the following is not correct? The U. S. economy has never experienced deflation. Since 1965, the U.S. nominal interest rate has exceeded the U.S. real interest rate. Since 1965, the U.S. economy has experienced rising consumer prices every year. During, deflation, the real interest rate exceeds the nominal interest rate.
When statisticians fail to allow for the possibility that consumers switch from products with rising prices to those whose prices are stable or falling, the CPI will tend to ______ the rate of inflation.
Attachment data is in excel sheet tabular format. Questions: 1. Define the key terms below as they are defined in the textbook and explain, in your own words what those definitions mean to you (5 points), and then thoroughly analyzes each situation to answer the following questions Use the diagrams below, resizing them as necessary, to illustrate your analysis in explaining what happens to private savings, private investment spending, and the rate of interest if the following events occur. Assume the economy is closed. a. The government reduces the size of its deficit to zero (10 points). 3 b. At any given interest rate, consumers decide to save more. Assume the budget balance is zero (10 points). c. At any given interest rate, businesses become very optimistic about the future profitability of investment spending. Assume the budget balance is zero (10 points). 2. Define the key terms below as they are defined in the textbook and explain, in your own words what those definitions mean to you (5 points), and then thoroughly analyzes each situation to answer the following questions Using aggregate demand, short-run aggregate supply, and long-run aggregate supply curves, explain the process and causes by which each of the following economic events will move the economy from one long-run macroeconomic equilibrium to another. Use the diagrams below, resizing them as necessary, to illustrate your analysis. In each case, what are the short-run and long-run effects on the aggregate price level and aggregate output? a. There is a decrease in households’ wealth due to a decline in the stock market (15 points). b. The government lowers taxes, leaving households with more disposable income, with no corresponding reduction in government purchases (15 points). 3. Define the key terms below as they are defined in the textbook and explain, in your own words what those definitions mean to you (7 points), and then thoroughly analyzes each situation to answer the following questions a. An economy in a hypothetical country is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs. What kind of gap—inflationary or recessionary—will the economy face after the shock, and what type of fiscal policies, giving specific examples, would help move the economy back to potential output? a. A stock market boom increases the value of stocks held by households (8 points). b. Firms come to believe that a recession in the near future is likely (8 points). c. Anticipating the possibility of war, the government increases its purchases of military equipment (8 points). d. The quantity of money in the economy declines and interest rates increase (8 points). 4. The table below shows the United States components of M1 and M2 in billions of dollars for the month of December in the years 1998 to 2007 as published in the 2008 Economic report of the President. YEAR currency Travelers Checkable money time savings M1 M2 currency currency in checks deposits market deposits deposits in in circulation funds smaller circulation circulation than as a as a $100,000 percentage percentage of M1 of m2 1998 460.5 8.5 626.5 728.9 952.4 1,605.00 1999 517.8 8.6 596.2 819.7 956.8 1,740.30 2000 531.2 8.3 548 908 1,047.60 1,878.80 2001 581.2 8 592.6 962.3 976.5 2,312.80 2002 626.3 7.8 585.6 885.3 896 2,778.20 2003 662.5 7.7 635.9 777.4 818.7 3,169.10 2004 697.6 7.5 671.2 697.1 829.9 3,518.30 2005 723.9 7.2 643.4 699.9 995.8 3,621.40 2006 748.9 6.7 611.4 799.4 1,170.40 3,698.60 2007 759 6.3 599.2 976.1 1,216.80 3,889.80 a. Complete the table by calculating M1 (5 points), M2 (5 points), currency in circulation as a percentage of M1 (5 points) , and currency in circulation as a percentage of M2 (5 points). What trends or patterns about M1, M2, currency in circulation as a percentage of M1, and currency of circulation as a percentage of M2 do you see (5 points)? What might account for these trends (12 points)? 5. Considering the flow of money throughout a country’s economy and the importance of the proper level of money supply, answer the following questions. a. Discuss how money is created within the banking system (15 points) b. Discuss how in the United States, the Federal Reserve uses monetary policy to control the money supply. (17 points) 6. After experiencing a recession for the past two years, the residents of Albernia were looking forward to a decrease in the unemployment rate. Yet after six months of strong positive economic growth, the unemployment rate has fallen only slightly below what it was at the end of the recession. a. How can you explain why the unemployment rate did not fall as much although the economy was experiencing strong economic growth? (15 points) b. Explain how and why the unemployment rate fluctuates with the inflation rate as is depicted in the Short-Run Phillips Curve. (17 points)
Get college assignment help at uniessay writers In certain industries, firms buy their most important inputs in markets that are close to perfectly competitive and sell their output in imperfectly competitive markets. a. Cite as many examples as you can of these types of businesses.
is the file not attaching I added it on the last one. There should be a graph on question number 4
Is milk a necessity or luxury as a commodity, and how does substitutes impact price?
1. Consider an employee who does not receive any employer-based health insurance and who has to divide their weekly, after tax, income of £700 between health insurance and all other goods. Draw the opportunity set for this worker if both health insurance and other goods cost £100 per week. On the same graph, show how the employee’s opportunity set would change if the employer agreed to give the employee £100 worth of health insurance which would be tax free. Would the employee be better or if, instead of the health insurance, she was given a £100 per week pay increase which would be taxed at 20%?
Chapter 08 #145 The Sunshine Corporation finds that its costs are $40 when it produces no output. Its total variable costs (TVC) change with output as shown in the accompanying table. Use this information to answer the following question(s). Refer to the above information. The marginal cost of the third unit of output is: a. $105. b. $25. c. $15. d. $20.
Answer the following questions based on the production function below. (2.5 points) LABOR TOTAL PRODUCT MARGINAL PRODUCT AVERAGE PRODUCT 0 0 1 10 2 25 3 45 4 60 5 70 6 75 7 75 8 70 a. The average product of the 5th worker is ___________ b. The marginal product of the 3rd worker is ______________. c. Diminishing returns set in with worker # ___________. d. This chart demonstrates the Law of ______ _______ and is only relevant in the short run because of the presence of ___________ inputs or resources in the production process.
What are the advantages and disadvantages of the Federal Reserve becoming more transparent about its actions and decisions and disclosing more information to the public?
If the prices of A, B and C are $2. $3, and $1 respectively, and the consumer has $26 to spend on these three products, what combination of the three products should be purchased in order to maximize utility?
Compare and contrast the expenditure versus income approach to GDP. Why are the results the same? What are some of the drawbacks of using GDP to measure economic well-being? While researching the drawbacks of GDP, we uncover shortcomings. For example, the GDP number does not take into consideration leisure time or human health costs. If you had to create an instrument that measured the prosperity of a nation, what would be the three most important aspects of the society you would include? For example, would it be: 1) total earnings of the country, 2) environmentally friendly factories and equipment, 3) the health of the population? Discuss why you made these choices.
0603:at price(p1 p2)=(6,2), juile buys the bundle(x1,x2)=(11,15). a price(p1′.p2′)=(2,6),juile buys the bundle(x1′, x2′)=(9,13).at price(p1”,p2”)=(3,4) she buys the bundle(x1”,x2”)=(15,11).identify which bundle are directly and indirectly perferred to others, and check to see if the weak Axiom of revealed preference(WARP)HOLDS, SHOW ALL WORKS
0604 mary’s utility depends only on her consumption of X and Y. she has utility function U(x,y)=3x 2y, where x and y are the quantities of X and Y a)assign suitable names to products X and Y be reasonable. b)what is the slope of mary’s indifference curve c)assuming that the price of good X is 2(px=2)and price of good Y is 1(Py=1) what is the slope of mary’s budget line. d)sketch a diagram to illustrate Many’s optimal consumption bundle assuming that she has an income of $24(m=24)Put X on the horizontal axis and Y on the vertical axis. e)if both goods are priced at $1(Px=Py=1)how much of each good will mary buy?
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