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economics 14th global
Questions and Answers of
Economics 14th Global
You want to be able to withdraw $1,000 from a savings account at the end of year 1, with withdrawals increasing by 10 percent each year thereafter over a total of 5 years. How much money must be on
Deposits are made at the end of years 1 through 7 into an account paying 5 percent per year interest. The deposits start at $4,000 and increase by 15 percent each year. How much will be in the
A small company wishes to set up a fund that can be used for technology purchases over the next 6 years. Their forecast is for $9,000 to be needed at the end of year 1, increasing by 5 percent each
An easy payment plan offered by a local electronics store for your new audio system calls for payments of $2,000 at the end of year 1, increasing by 15 percent each year thereafter through year 4.
Maintenance on a test track simulator used to ‘‘exercise’’ vehicles 24/7 for engineering reliability analyses is expected to require $14,000 the first year increasing by 10 percent each year
Upon the birth of your son, you open an account to fund his college education. You deposit $1,500 to open the account. Each year, on his birthday, you make another deposit, each being 15 percent
You are helping a friend prepare a business plan for his already-prospering consultancy. Net revenue in year 1 is expected to be $140,000, increasing by 10% each year thereafter. If i =15% and the
In a new highly automated factory, labor costs are expected to decrease at an annual rate of 5 percent; material costs will increase at an annual rate of 4 percent; overhead costs will increase at 8
Susan gets a job upon completion of her MSME degree with a mechanisms design firm. Her starting salary is $70,000; each successive year she gets a 5 percent raise. Assuming she deposits 10 percent of
Aboat is purchased by financing $50,000. The loan is to be paid over a 5-year period with annual payments based on a 15 percent compounding rate per year. Each successive payment is scheduled to be
Carlson Photography receives royalties based on the use of their photographs with a major client. Every year, the client makes deposits in Carlson’s bank account that earns 6 percent compounded
Develop a single spreadsheet that allows you to (1) calculate the effective annual interest rate given the nominal annual interest rate and the number of compounding periods per year, and (2)
What equal monthly investment is required over a 40-year period to achieve a balance of $2,000,000 in an investment account that pays monthly interest of 3/4 percent?
How many monthly payments are required to repay a loan of \($12\),000 with an interest rate of 3/4 percent per month and end-of-month payments of \($400\)?
What is the effective annual interest rate for 10 percent compounded(a) semiannually,(b) every 4 months, (c) quarterly,(d) every other month,(e) monthly?
What is the effective annual interest rate for 5 percent compounded(a) semiannually,(b) every 4 months, (c) quarterly,(d) every other month,(e) monthly?
A total of \($50\),000 is borrowed and repaid with 60 monthly payments, with the first payment occurring 1 month after receipt of the \($50\),000. The stated interest rate is 6 percent compounded
A refrigerator sold for $500. The store financed it by charging 0.5 percent monthly interest on the unpaid balance.If the refrigerator is paid for with 30 equal end-of-month payments,a. what will be
If you deposit $4,000 into an account paying 6 percent per year compounded semiannually, how much will you have in the account after 10 years?
How much money must be deposited now in order to withdraw $10,000 in 4 years if interest is 5 percent compounded quarterly?
You invest $10,000 in a fund that pays 7 percent per year for 5 years. How much is in the fund at the end of 5 years if (forgetting leap years and making ‘‘convenient’’ assumptions)a.
How much money must be invested in an account that pays 6 percent per year interest to be worth $20,000 at the end of 8 years if (forgetting leap years and making ‘‘convenient’’
You decide to open a retirement account at your local bank that pays 8 percent/year/month (8 percent per year compounded monthly). For the next 20 years, you will deposit $400 per month into the
Wei Min opens a retirement account that pays 8 percent/year/month. For the next 30 years, he deposits $300 per month into it, with all deposits occurring at the end of the month. On the day of the
You borrow $2,000 from Gougo’s, a well-known loan consolidation outfit. The loan is an ‘‘unbelievably low’’ 2.5 percent per month compounded monthly. You have 2 years to pay back the
Naihui and Haiyan deposit \($250\) into their joint account at the end of each month. They want to have a total of \($12\),000 in their account after 40 months.a. What monthly rate of interest must
You have your eyes on a new automobile costing \($25\),000. If you wrote a check for the \($25\),000, you could drive off in your new car. However, you don’t have it and must finance \($20\),000
You are down on your luck and need a loan, quick! You locate Mr. Loa N. Shark who advertises weekly loans for‘‘an almost imperceptibly small rate’’ of only 3 percent, prepaid at the time of
Your boss, who never took an engineering economy course, is buying a new house and needs your help in answering some questions. The loan amount will be in the ‘‘jumbo loan’’ category of
David and Tami deposit \($150\) into their joint account at the end of each month. If their account earns 6 percent per year compounded quarterly, how long will it take them to have a total of
Mario and Claudia deposit $300 into their joint account at the end of each quarter. If their account earns 7 percent/year/month (7 percent per year compounded monthly), how long will it take them to
Mario and Claudia deposit \($100\) into their joint account at the end of each month. If their account earns 7 percent/year/quarter (7 percent per year compounded quarterly), how long will it take
Daniel deposits \($20\),000 into an account earning interest at 6 percent per year compounded monthly. He wishes to withdraw \($1\),200 at the end of each quarter. For how many quarters can he make
Daniel deposits \($20\),000 into an account earning interest at 6 percent per year compounded quarterly. He wishes to withdraw \($400\) at the end of each month. For how many months can he make these
Show the following mathematically:a. Using equation 2.9, show mathematically that Equation 2.53 is correct.b. Using Equations 2.8 and 2.9, show mathematically that Equation 2.54 is correct.c. Using
Show that Equations 2.57 through 2.60 are correct, usinga. a cash flow diagram.b. the mathematical formulas for each of the factors given. (P|Gi%,1)=0 (A|Gi%,1) = 0 (A|P 1%,1) = (F|Pi%,1) = 1+i (AF
An interest rate is given as 5 percent per year nominal. Determine the effective annual rate ifa. compounding is annual.b. compounding is daily.c. compounding is continuous.
An interest rate is given as 10 percent per year nominal. Determine the effective annual rate ifa. compounding is annual.b. compounding is daily.c. compounding is continuous.
How much will $10,000 amount to after 5 years if interest is 10 percent per year compounded continuously?
What amount must be placed on deposit today to equal $15,000 in 4 years at 15 percent per year compounded continuously?
Equal end-of-period semiannual payments of $500 are made to a fund paying a nominal 10 percent per year compounded continuously.a. What will the fund amount to after 7 years?b. What is the present
Semiannual deposits, beginning with \($500\) and increasing by \($100\) with each subsequent deposit, are made into a fund paying a nominal 10 percent per year compounded continuously.a. What will
Semiannual deposits beginning with $500 and increasing by a continuously compounded 20 percent, are made to a fund paying a nominal 10 percent per year compounded continuously.a. What will the fund
A continuous uniform series of deposits totaling $1,000 per year are made into a fund paying 10 percent compounded continuously.a. What will the fund amount to after 7 years?b. What is the present
What continuous uniform series of cash flows over 7 years can be paid out of a fund having $20,000 at the present (or time 0) if interest is 10 percent compounded continuously?
Develop a single spreadsheet that allows you to calculate F|P and P|F factors. For each cell where the calculation is performed, place above it a small ‘‘control panel’’ that allows you to
The fact that one should not add or subtract money unless it occurs at the same point in time is an illustration of what concept?a. Time value of moneyb. Marginal returnc. Economy of scaled. Pareto
If a set of investment alternatives contains all possible choices that can be made, then the set is said to be which of the following?a. Coherentb. Collectively exhaustivec. Independentd. Mutually
Which of the following examples does not illustrate a cash flow approach?a. A payroll manager writes a check to pay a shop worker.b. A neighbor pays $0.25 to buy a glass of lemonade at a lemonade
The ‘‘discounting’’ in a discounted cash flow approach requires the use of which of the following?a. An interest rateb. The economic value addedc. The gross margind. The incremental cost
Risks and returns are generally ___ correlated.a. inverselyb. negativelyc. notd. positively
Assuming zero incremental costs for the do-nothing alternative is generallya. appropriate.b. risky.c. optimistic.d. realistic.
Answering ‘‘what if’’ questions with respect to an economic analysis is an example of which step in the systematic economic analysis technique?a. Identifying the investment alternativesb.
Which of the following is useful in making a final selection when multiple criteria exist?a. Four discounted cash flow rulesb. Seven-step systematic analysis techniquec. Ten principles of engineering
Time value of money calculations may not be required in an economic evaluation for all of the following reasons excepta. annual cash flows are proportional to the first year cash flowb. inflation is
If a student’s time value of money rate is 30 percent, then the student would be indifferent between $100 today and how much in 1 year?a. $30b. $100c. $103d. $130
A bottled mango juice drink must contain at least 17 percent mango juice for proper taste. The drink is created by blending unprocessed juice from two orchards. RightRipe Orchard sells unprocessed
Aprinted circuit board is produced by passing through a sequence of three steps. The scrap rates for steps one through three are 5 percent, 3 percent, and 3 percent, respectively. If 10,000 good
Reconsider the preceding problem assuming that the sequence can be rearranged such that the processing step with the 5 percent scrap rate occurs last rather than first.Using this redesigned sequence,
Using a diagram of the circular flow of income model, explain the three ways that national income can be measured.Data from circular flow of income model Expenditure on goods and services (4) Goods
Over the past five years, improvements in technology and increased investment by a large proportion of the major companies in the garment industry have led to a significant decrease in employment.
Define the following terms, indicated in bold in the data:1. Tariff 2. Subsidy 3. Dumping. EU Stands Up For Spanish Olives Against US Tariffs At WTO The tariffs on Spanish black olives opened a new
Using a labour market diagram, explain the type of unemployment that might be created as a result of the tariff on olives.Data from labour market diagram Average (real) wage rate W. 0 AS Number of
Use the data in Table 27.2 to answer this question. If Japan was experiencing a current account deficit and brought about a fall in the value of the yen, what would you expect to happen to the
Why do some countries prefer particular sports over others? What factors might lead us to follow different sports?
Use an appropriate economic theory to explain why LeBron James might employ someone to answer his fan mail even if he can read the letters and type the responses more quickly than the person he
From 1946 through 1967, the placekicker and offensive lineman for the Cleveland Browns, Lou Groza, was successful on 54.9 percent of his field goal attempts. From 1999 through 2012, the Browns’
Carly Lloyd is arguably the best central midfielder in international women’s soccer. She is also an effective attacker, scoring three goals in the Women’s World Cup Final in 2015. Based on the
In 2012, the Indianapolis Colts released future Hall of Fame quarterback Peyton Manning despite the fact he potentially had several more years as an elite quarterback ahead of him. Explain why the
What factors determine the location of the demand curve for basketball at your college or university? Which of those factors might the school be able to influence and which are beyond its control?
Given the law of diminishing marginal returns, why might rules that limit the size of a team’s roster be unnecessary in professional basketball?
Under what circumstances does the presence of a nearby minor league baseball team decrease the monopoly power of a major league team? Could it make the major league team even more profitable?How?
Some cities in England have several teams in the Premier League (the country’s top soccer league). Explain how the presence of multiple teams affects the monopoly power of those teams.
During the 2016 NFL season, television ratings suffered until the November elections, after which they rebounded. Use the supply and demand model to explain why this may have occurred.
Use the concepts of production and cost from section 2.2 to explain why NASCAR teams might have to spend far more to move up from an average finish of 2nd to 1st than from 20th to 19th. 2.2 Output
Suppose that the WNBA’s Los Angeles Sparks raise ticket prices from $50 to $60 per seat and experience a 5 percent decline in tickets sold. What is the elasticity of demand for tickets?
Suppose the Tampa Bay Rays baseball team charges $10 for bleacher seats (poor seats in the outfield) and sells 250,000 of them over the course of the season. The next season, the Rays increase the
Would teams operate differently if they had corporate affiliations (e.g., the IBM Lions) rather than city or state affiliations?
If you were CEO of a company, would you spend $15 million per year to put your company’s name on a stadium?
“From each according to his ability, to each according to his need” is a familiar Marxist slogan. Is the NFL’s revenue-sharing policy incompatible with a market economy?
Suppose that you are the owner of a professional baseball team in a major city, and MLB allows a second team to locate in your city.Describe and show using a graph the potential impact on your
True or false; explain your answer: “If all teams are of equal quality, it doesn’t matter whether they share gate receipts—revenue will remain unchanged.”
How can it be that the weakest teams in the National League from a wins/losses perspective are among the most profitable?
Suppose that teams in the major European leagues shared all revenue equally (less a contribution to parachute payments). How might this impact the quality of teams? Explain the likely impact on the
With two teams in the NFL, NBA, and MLB, what percentage of sports fans in Los Angeles change their rooting interest from year to year?
How would professional baseball change for both teams and fans if it practiced promotion and relegation?
Use a standard monopoly firm graph to show and explain how the monopoly power of a team is changed when another team locates nearby.
Why can’t EPL teams like Arsenal exert as much monopoly power as the NFL’s Chicago Bears?
Suppose that all Los Angeles Rams fans feel the same as Jane, who values every game at $28, regardless of the opponent. Can the Rams increase profits by bundling the Rams–Bears game with three
Suppose you were granted the next MLS expansion franchise and the right to locate the team anywhere in North America. Explain the factors you should consider in choosing a profit-maximizing
Suppose that Mahesh is a typical Buffalo Bills fan, and his demand curve for Bills football games is: P = 120 – 10G where G is the number of games the fan attends.a. If the Bills want to sell him a
Suppose that instead of price discriminating, the Bills are able to charge a two-part price including a fixed fee for entry and a price per game. If the marginal cost of attendance is $0, what is the
What means more to you, occasionally winning the championship or being competitive every year?
Should MLB adopt a system of promotion and relegation?
Why do European soccer fans follow their teams with such passion even though most have little chance of winning a championship?
Based on the work of Coates, Humphreys, and Zhou, it appears that hometown fans are happy to see lopsided wins. Yet at the league level, it appears that competitive balance is crucial. How can we
Go to the NFL regular season standings for 2017(http://www.espn.com/nfl/standings/_/season/2017) and compute the standard deviation of winning percentage and the ratio of actual to ideal standard
How does your answer change if city residents spend 60 cents of every additional dollar on goods made in other cities or countries?
The Seattle Sounders are the most financially successful team in MLS.They attracted over 42,000 fans per game in both 2015 and 2016 to the stadium they share with the Seattle Seahawks of the NFL.
Did the NFL make a mistake in allowing the Rams and Chargers to relocate to Los Angeles? Did the voters in San Diego and St. Louis make a mistake in letting them leave?
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