All Matches
Solution Library
Expert Answer
Textbooks
Search Textbook questions, tutors and Books
Oops, something went wrong!
Change your search query and then try again
Toggle navigation
FREE Trial
S
Books
FREE
Tutors
Study Help
Expert Questions
Accounting
General Management
Mathematics
Finance
Organizational Behaviour
Law
Physics
Operating System
Management Leadership
Sociology
Programming
Marketing
Database
Computer Network
Economics
Textbooks Solutions
Accounting
Managerial Accounting
Management Leadership
Cost Accounting
Statistics
Business Law
Corporate Finance
Finance
Economics
Auditing
Ask a Question
Search
Search
Sign In
Register
study help
business
economics
Questions and Answers of
Economics
The International Property Right Index scores countries based on the legal and political environment and how well property rights are protected. Go online and find a recent ranking. Choose three
For each of the following pairs, which bond would you expect to pay a higher interest rate? Explain.a. A bond of the U.S. government or a bond of an Eastern European governmentb. A bond that repays
Describe the efficient markets hypothesis, and give a piece of evidence consistent with this hypothesis.
According to an old myth, Native Americans sold the island of Manhattan about 400 years ago for $24. If they had invested this amount at an interest rate of 7 percent per year, how much,
For each of the following kinds of insurance, give an example of behavior that can be called moral hazard and another example of behavior that can be called adverse selection.a. Health insuranceb.
A company faces two kinds of risk. A firm-specific risk is that a competitor might enter its market and take some of its customers. A market risk is that the economy might enter a recession, reducing
In June 2009, at the trough of the Great Recession, the Bureau of Labor Statistics announced that of all adult Americans, 140,196,000 were employed, 14,729,000 were unemployed, and 80,729,000 were
Explain whether each of the following events increases, decreases, or has no effect on the unemployment rate and the labor-force participation rate.a. After a long search, Jon finds a job.b. Tyrion,
Between January 2010 and January 2016, U.S. employment increased by 12.1 million workers, but the number of unemployed workers declined by only 7.3 million. How are these numbers consistent with each
Which of the following are considered money in the U.S. economy? Which are not? Explain your answers by discussing each of the three functions of money.a. A U.S. pennyb. A Mexican pesoc. A Picasso
If a Japanese car costs 1,500,000 yen, a similar American car costs $30,000, and a dollar can buy 100 yen, what are the nominal and real exchange rates?
A can of soda costs $1.25 in the United States and 25 pesos in Mexico. What is the peso-dollar exchange rate (measured in pesos per dollar) if purchasing power parity holds? If a monetary expansion
A case study in the chapter analyzed purchasing-power parity for several countries using the price of Big Macs. Here are data for a few more countries:a. For each country, compute the predicted
Purchasing-power parity holds between the nations of Ectenia and Wiknam, where the only commodity is Spam.a. In 2015, a can of Spam costs 4 dollars in Ectenia and 24 pesos in Wiknam. What is the
Consider an economy described by the following equations:Y = C + I + GC = 100 + 0.75(Y − T)I = 500 - 50 rG = 125T = 100where Y is GDP, C is consumption, I is investment, G is government purchases,
As rich as America is, how can our resources possibly be "scarce"?
How would you answer the question in the News Wire "Future Living Standards"? Why?
Why might it be necessary to reduce consumer spending in order to attain faster economic growth? Would it be worth the sacrifice?
In a purely private market economy, how is the FOR WHOM question answered? Is that optimal?
Why doesn't North Korea reduce its military and put more resources into food production (News Wire "Opportunity Cost")? What is the optimal mix of "guns" and "butter" for a nation?
If taxes on the rich were raised to provide more housing for the poor, how would the willingness to work be affected? What would happen to total output?
What kind of knowledge must central planners possess to manage an economy efficiently?
Iceland has no military.(a) So, at what point in Figure 1.1 is Iceland producing?(b) If Iceland decided to produce the quantity OE of military goods, how much consumer output would it have to give
In Figure 1.6, given below(a) If as much health care as possible is provided, how many other goods will be provided?(b) What is the opportunity cost of increasing health care from H1 to H2?
Suppose the following data reflect the production possibilities for providing health care and education:(a) Graph the production possibilities curve.(b) If maximum health care is provided, how much
Draw a production possibilities curve based on Table 1.1, labeling combinations A-F. What is the opportunity cost of increasing missile production?TABLE A.1 Hypothetical Relationship of Grades to
Assume that it takes four hours of labor time to paint a room and two hours to sand a floor. If all 24 hours were spent painting,(a) How many rooms could be painted by one worker?(b) If a decision
Assume that it takes four hours of labor time to paint a room and two hours to sand a floor. If two workers each spend 24 hours painting,(a) How many rooms could be painted by both workers?(b) If a
North Korea has a population of 25 million people, of whom 1.1 million are in the military. South Korea has an army of 650,000 out of a population of 49 million. What percentage of the population is
The table below describes the production possibilities confronting an economy. Using that information:(a) Calculate the opportunity costs of building hospitals.(b) Draw the production possibilities
In 2014 the dollar value of total output was roughly $40 billion in North Korea and $1,600 billion in South Korea. South Korea devotes 2.7 percent of its output to defense and North Korea devotes
What can poor nations do to raise their living standards?
Why do we measure output in value terms rather than in physical terms? For that matter, why do we bother to measure output at all?
Why do people suggest that the United States needs to devote more resources to investment goods? Why not produce just consumption goods?
The U.S. farm population has shrunk by over 25 million people since 1900. Where did they all go? Why did they move?
Rich people have over 15 times as much income as poor people. Is that fair? How should output be distributed?
If taxes were more progressive, would total output be affected?
Why do income inequalities diminish as an economy develops?
Do we need more or less government intervention to decide WHAT, HOW, and FOR WHOM? Give specific examples.
Use the figure below to answer the following questions.(a) What is the opportunity cost of increasing investment from 6 units to 8 units?(b) What will happen to future production possibilities if
In 2015, the United States devoted about 0.19 percent of its $18 trillion GDP to development assistance. (a) How much money is that? (b) How much aid does that imply for each of the 3 billion
Suppose the following data describe output in two different years:(a) Compute nominal GDP in each year.(b) By what percentage did nominal GDP increase between Year 1 and Year 2?(c) Now compute real
GDP per capita in the United States was approximately $55,000 in 2015. Use the growth formula to answer the following questions: (a) What will it be in the year 2020 if GDP per capita grows each
According to Figure 2.4,(a) Did the quantity of manufactured output increase or decrease between 1900 and 2000?(b) By how much (in percentage terms)?Use the percentage change formula = [(new value
Assume that total output is determined by this formula: Number of workers × productivity = total output (Output per worker) (a) If the workforce is growing by 1 percent but productivity doesn't
According to the News Wire "Manufacturing: Fewer Jobs, More Output," since 1975 in the manufacturing sector (a) Has output increased or decreased? (b) Has employment increased or decreased? (c) Has
According to Table 2.4,(a) What is the average income in the United States?(b) What percentage of the average income of people in the highest fifth would have to be taxed away o bring them down to
According to News Wire "Inequality," what is the average per capita income in nations where the highest income decile gets (a) Over 45 percent of total income? (b) Less than 30 percent of total
Complete the following table and answer the following questions:What is the ratio of a high income family's income to a low income family's income(a) Before taxes and(b) After taxes?(c) Is this tax
What does the supply and demand for human kidneys look like? If a market in kidneys were legal, who would get them? How does a law prohibiting kidney sales affect the quantity of kidney transplants
Was the gas rationing in New Jersey the fairest response to the gasoline crisis? Who got the available gasoline? Who would have gotten it in the absence of price controls?
In the web tutoring market, what forces might cause. (a) A rightward shift of demand? (b) A leftward shift of demand? (c) A rightward shift of supply? (d) A leftward shift of supply? (e) An increase
Did the price of tuition at your school change this year? What might have caused that?
Illustrate the market shortage for tickets to the 2012 Sandy benefit concert (see News Wire "Market Shortage"). Why were the tickets priced so low initially?
When concert tickets are priced below equilibrium, who gets them? Is this distribution of tickets fairer than a pure market distribution? Is it more efficient? Who gains or loses if all the tickets
Is there a shortage of on campus parking at your school? How might the shortage be resolved?
If departing tenants sell access to rent controlled apartments, who is likely to end up with the apartments? How else might scarce rent controlled apartments be distributed?
If rent controls are so counterproductive, why do cities impose them? How else might the housing problems of poor people be solved?
Why did Apple set the initial price of the iPhone 6 below equilibrium (see the News Wire "Market Shortage.")? Should Apple have immediately raised the price?
Using the "new demand" in Figure 3.7 as a guide, determine the size of the market surplus or shortage that would exist at a price of(a) $40 (b) $20
(a) Graph the outcomes in the used car market (News Wire "Supply Shift") if the government had put a ceiling of $20,000 on used car prices after Hurricane Sandy. (b) How large would the resulting
Illustrate on a graph the impact on the New Jersey gasoline market of (a) Hurricane Sandy. (b) The governor's price controls?
Based on the News Wire "Supply Shift," (a) What is the initial (pre-hurricane) equilibrium price? (b) How large is the pre-hurricane shortage? (c) What is the post-hurricane equilibrium price? (d)
According to the News Wire "Market Shortage," (a) How large was the market shortage at the Church set price of $0? (b) If the Church had sold the tickets for $100, how would have quantity demanded
In September 2014 Apple was selling a gold version of the 128GB iPhone 6 for $949. Two days later that phone was advertised on eBay for a starting bid of $1,625. (a) Was this evidence of A: market
Given the following data,(a) Complete the following table;(b) Construct market supply and demand curves;(c) Identify the equilibrium price; and(d) Identify the amount of shortage or surplus
If a product becomes more popular, (a) Which curve will shift? (b) Along which curve will price and quantity move? At the new equilibrium price, will (c) Price (d) Quantity be higher or lower?
Which curve shifts, and in what direction, when the following events occur in the domestic car market? (a) The U.S. economy falls into a recession. (b) U.S. autoworkers go on strike. (c) Imported
Assume the following data describe the gasoline market:(a) Graph the demand and supply curves. (b) What is the equilibrium price? (c) If supply at every price is reduced by 6 gallons, what will the
Using the News Wire "Law of Demand," answer the following questions: (a) According to the News Wire, what would be the response of students to a tax on alcohol that raises the price of alcoholic
Why do people routinely stuff themselves at all you can eat buffets? Explain in terms of both utility and demand theories.
If all soda advertisements were banned, how would Pepsi sales be affected? How about total soda consumption?
What does the demand for education at your college look like? What is on each axis? Is the demand elastic or inelastic? How could you find out?
What would happen to unit sales and total revenue for this textbook if the publisher reduced its price?
Identify three goods for which your demand is (a) Elastic and (b) Inelastic. What accounts for the differences in elasticity?
Utility companies routinely ask state commissions for permission to raise utility rates. What does this suggest about the price elasticity of demand? Why is demand so (in) elastic?
Why is the demand for San Francisco cigarettes so much more price elastic than the overall market demand for cigarettes?
When gasoline prices go up, how is demand for the following products affected: (a) SUVs; (b) Hybrid cars; (c) Beach hotels; (d) iWatches?
(a) In Figure 4.3, which box of popcorn first shows diminished marginal utility?(i) Total utility(ii) Marginal utility (b) In the cartoon "You can have too much of a good thing," which pizza slice
According to the News Wire "Price Elasticity" what is the price elasticity of demand for the 11inch Mac-Book Air?
Economists estimate price elasticities more precisely by using average price and quantity to compute percentage changes. Thus,Using this formula, compute E for a popcorn price increase from 15 cents
Suppose the following demand exists for iPhone apps:(a) At $9, what quantity is demanded?(b) If the price drops to $6, what quantity is demanded?(c) Is demand elastic or inelastic in that price
Using the demand schedule below, plot the demand curve on the graph and answer four questions about demand and elasticity:(a) Illustrate the demand curve on the following graph.(b) How much will
According to the elasticity computation, (a) By how much would popcorn sales fall if the price increased by 20 percent? (b) By 40 percent?
According to Table 4.1, if price increases by 20 percent, how much will unit sales decline for(a) Coffee,(b) Shoes, and(c) Airline travel? Will total revenue increase or decrease for(d) Coffee,(e)
According to the News Wire "Law of Demand," what is the price elasticity of demand for alcohol among college students?
(a) According to Table 4.1, by how much would coffee sales decline if the price of coffee increased 10 percent?TABLE 4.1 Elasticity EstimatesDegree of Elasticity _______________ EstimateRelatively
According to the News Wire "Price Elasticity of Demand," the average cigarette price rose by 12 percent on April 1, 2009. (a) According to the story, by what percentage might smoking be expected to
Suppose the following table reflects the total satisfaction (utility) derived from eating pizza:(a) What is the marginal utility of each pizza?(b) When does marginal utility first diminish?(c) When
According to the News Wire "Price, Sales, and Total Revenue," (a) By what percent did Starbucks raise average coffee prices? (b) If unit sales didn't decline at all, what would the price elasticity
Is your school currently producing at capacity (i.e., teaching as many students as possible)? What considerations might inhibit full capacity utilization?
If capital investment ceased, what would happen over time to worker productivity and living standards?
What are the production costs of your economics class? What are the fixed costs? The variable costs? What is the marginal cost of enrolling more students?
Suppose you set up a lawn mowing service and recruit friends to help you. Would the law of diminishing returns apply? Explain.
What are the fixed and variable costs of (a) A pizza shop, (b) An Internet service provider, (c) A corn farm, (d) A movie theater? Which needs the highest sales volume to earn a profit?
How do marginal costs "put a brake on production decisions"?
Is it possible for a company to show an accounting profit even while it is incurring an economic loss? How? What might happen with such a company?
What role do expectations play in Tesla's production and investment decisions described in the News Wire "Production and Investment Decisions"?
Why does marginal physical product decline at a fast food outlet (e.g., McDonald's) when more employees are hired? What are the fixed input constraints that limit worker productivity?
Why doesn't maximum output generate maximum profits?
Showing 25500 - 25600
of 26762
First
249
250
251
252
253
254
255
256
257
258
259
260
261
262
263
Last