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December 26, 2014

Posts by economyst


Total # Posts: 1,118

International Trade
I dont have a copy of Krugman and Obstfeld. And I obviously dont have the math and graphs you developed in your class. So, what do you want of the Jiskha help site?
November 5, 2008

Distance Problems
The two cars are moving away from each other at a rate of 105 mph. How long will it take before they are 210 miles apart. Also, I dont know what you mean by "boxes"
November 4, 2008

Distance Problems
Let x be the hours driving out. So, the distance out is 40*x, which must be equal to the distance back 30*(7-x) 40*x = 30*(7-x). Solve for x, and the rest will fall in place.
November 4, 2008

math
they became a pear (pair) (groan)
November 3, 2008

Math
M = S+11 M+8 = 2*(S+8) = 2*S + 16 Now solve M = 2S+8 2S+8 = S+11 S = 3 M = 14
November 3, 2008

Math
With two (fair) dice, there are 6*6=36 possible rolls. (1-1, 1-2, 1-3, ... 6-6) (hint: you could easily write all possible outcomes on a piece of paper) So, to get 9, one could have a 6-3, 3-6, 4-5, or 5-4. So, the probability is 4/36 = .11111. Take it from here
November 3, 2008

eco
Trade is a two-way street. A contry cannot import anything unless it has something to export. To import a "substantial" amount of goods, a country must produce a "large quantity" of goods to be traded.
November 2, 2008

Economics
Take a shot, what do you think. Hint: the value of the marginal product (VMP) is MPL*P where, in this example, P is the price of a car wash. Maximize by setting VMP = wage rate.
November 2, 2008

math
Have you provided all information. I would be extremely surprised to find that you are asked the questions you provided based solely on 2 points of data (1920 and 1950). Is there more data?
November 2, 2008

Math
Ah, a variation on the good old St Petersburg paradox. Prob of winning $1 is .5 Prob of winning $2 is .5*.5 Prob of winning $4 is .5*.5*.5 Prob of winning $8 is .5*.5*.5*.5 and so on, Expected value is sum over all possible outcomes, the probability times the value of the ...
November 2, 2008

economics
Take a shot, what do you think. Hint: the "price" of dollars expressed in euros is the largely determined by the willingness (demand) of europeans to hold dollars instead of euros.
November 2, 2008

Managerial Economics
obviously, I would need to see table 4-1 to answer this question
November 1, 2008

Managerial Economics
Take a shot, what do you think. hint: increase the price of gas by 1%, what happens to the quantity of autos (the percentage change)
November 1, 2008

Managerial Economics
take a shot, what do you think?
November 1, 2008

Managerial Economics
Take a shot, what do you think? Hint: your given price elasticity is inelastic. So, increasing price should increase revenue.
November 1, 2008

Microconomics [URGENT]
Firms will produce where MC=MR. In a perfectly competitive market, MR=Price (P). So, if MC=ATC=P, the firm is exactly breaking even. Now then, if MC=AVC=P and AVC<ATC (because of some fixed costs, then the firm is taking a loss and should shut down. The point about fixed ...
October 30, 2008

College Economics
Take a shot, what do you think: Hints: Y=C+I+G+(X-M), S+T=I+G and since T=G, S=I. So first calculate S (Savings) Hint2: whatever you dont consume out of disposible income (di) is savings, so S= -200 + .2di
October 29, 2008

Macro Economics
Employment is positively related to total output (GNP). (So, unemployment is therefore negatively related). So, start with a graph of aggregate supply and demand, GNP on the x axis, prices on the y. Find equilibrium. Now increase supply -- shift the supply curve to the right. ...
October 29, 2008

government
What point do you want to argue; a hypothesis can be most anything you want. E.G., possibly hypothesis for health care (HC) are: HC in the USA stinks. HC in the USA is great. HC in the USA is too complicated. HC in the USA is too inefficient. HC in the USA is amazingly ...
October 29, 2008

Microeconomics
1) I would go with C, increases a firms costs. 2) Hummm, a confusing question, which needs clarification and simplifying assumptions. I presume the farmer does not get rid of half of his labor as a result of losing half of his land. Since each laborer has less land to work ...
October 27, 2008

econ
Take a shot: what do you think? Hint: compare what is on the y-axis on a single vs aggregate demand curve, what is on the x-axis.
October 23, 2008

Macro Economics
Hummmm. I think that a, d, and e could be factors that might account for this event.
October 22, 2008

Microeconomics help please (urgent)
ok, say the marginal utility (MU) from the 2nd sneakers and 5th sweater is X. With the sneakers, she is $50 to get X, with the sweaters, she is spending $20 to get X. She MAY be better off if she spent more on sweaters and less on sneakers. (I say MAY because we dont know the ...
October 21, 2008

macroeconomics
Obviously, the two concepts are very close to each other. A subtle difference can arise due to different analyses. When we think of production potential or actual production, we generally want a measure of the total labor being used (employed). For example, a firm's ...
October 20, 2008

economics
Do a little research, then take a shot, what do you think? I or someone else will be glad to critique your thinking.
October 20, 2008

Microeconomics
I fully agree with the quote, and the quote is referring to an area not covered by your initial question. Economically efficient allocation of resouces calls for the marginal cost of producing the last unit to equal the marginal benefit of that last unit. And marginal benefit ...
October 20, 2008

Microeconomics
Perhaps you coud post the sentence(s) that caused you to go back to D; that may shed some light on our apparent confusion.
October 20, 2008

Microeconomics
Q1, I agree Q2, why did you pick B? You already noted from Q1 that Price is above MC. I would go with C. Q3. I stand by my original answer. I confidently presume Revenue is Price*Quantity, and profit is Revenue less costs. Unless marginal costs are zero, the optimizing point ...
October 20, 2008

Microeconomics: Cost of Production
An Excel spreadsheet would be very helpful for these questions I looks like you need to "plot" total production. You are given the marginal product from adding each worker. Just convert that into total production. The first .5 workers gives 13 units of production (Q...
October 20, 2008

MICRO ECON
I think false. Draw the indifferece curves for each person. For the perfect complements case, the guy must have both goods in equal quantities. Assuming a 1-for-1 complement, he will consume along a 45-degree line, and each indifference curve looks like a corner of a box, the ...
October 17, 2008

Microeconomics
I would go with A. Draw a typical monopoly model, with a demand curve and a marginal revenue curve. Draw a MC curve. At the optimal Q, What is the price (aka Average revenue)? What is the MR value? BTW, with linear-drawn demand and MR "curves", Revenue is maximized ...
October 16, 2008

Microeconomics
I would go with A. Draw a typical monopoly model, with a demand curve and a marginal revenue curve. Draw a MC curve. At the optimal Q, What is the price (aka Average revenue)? What is the MR value? BTW, with linear-drawn demand and MR "curves", Revenue is maximized ...
October 16, 2008

Microeconomics (margin Utility) need clarification
So, you go the frige and find an apple. You bite into it, and its delicious. You get positive utility. Then you see a grocery receipt lying on the table. Your mother paid $3 per pound for the apples. Does this change the utility you got from eating the apple. (no). Opps, you ...
October 15, 2008

Microeconomics help please (urgent)
1) Under the most common utility functions, No. Price paid is independent of the marginal utility received. 2) Yes, Instead of getting the item for $100, you get the item plus have $50 to spend on something else. (Note: in future posts, I suggest you let us know what you think...
October 15, 2008

Economics; The Cost of Production
First, I am a little concerned about the word, "explicit." I assume that explicit costs are those costs with an actual dollar outlay. (e.g., accounting costs). Further, I will assume that costs that are not explicit (i.e., implicit costs) are the opportunity costs of...
October 15, 2008

Statistics
I dont understand your question. Could you expand on it.
October 15, 2008

Statistics
The sample space is the set of all possible outcomes of an experiment. So, I believe the sample space is: RR, RB, RW, BB, BR, BW, WW, WR, WB There are 10-choose-2 = 45 possible draws of two chips. There 5-choose-2 =10 ways to choose 2 red chips. There are 3-choose-2 ways=3 to ...
October 14, 2008

Microeconomics
I agree.
October 13, 2008

macroeconomics 205
I believe the answer is 500.
October 12, 2008

Economic
Expectations may have been overly optimistic, or there may have been a shock to the system (e.g., a war or a natural disaster).
October 12, 2008

math
What part of this are you having trouble with? For Allan Houston, FTM=363, FTA=395, so 363/395 = .9190 Converting to a percent= 91.90%
October 8, 2008

college-Intermediate Microeconomics
First, I dont understand your utility function; I think the Jiskha site modified or eliminated some "special" characters you may have been using. Second, I dont see a question. That said, a proportional income tax should lower the marginal utility from working, while...
October 8, 2008

Microeconomics
First of all, you cannot have a positive marginal cost and zero variable costs. If MC=1000 per unit and is constant, then Average Variable cost (AVC) = 1000, and TVC = Q*1000. You need more information to calculate profit. Do you have total output? In which case you could ...
October 7, 2008

Economics
A concentration ratio of 20% means that the top n firms account for 20% of the market. What, is n?. If n=1, then the industry has one dominant firm. If n=4, then the industry is quite competitive. (n=5 implies all firms have equal shares).
October 7, 2008

Microeconomics
I do not think you are correct. First, check; does A have a maximizing strategy which is independent of what B does. If A chooses a low tarriff, the best that A can win is 25 and the worst it could win is 10. If A chooses a high tarriff, the best A can win is 30 and the worst ...
October 6, 2008

Microeconomics
I believe you are mostly right. I dont see where the first MR value of $8000 comes from. (the first MR value should be undeterminable.) The change (MR) in TR from going from 5000Q to 6000Q is 2000, (correct in your table). The MR going from 6000Q to 7000Q is 0 (also correct in...
October 6, 2008

Macroeconomics
a) real interest rate is nonminal rate less inflation. b) ex ante means "before the facts" or "beforehand". So expected inflation in period 2 is inflation in period 1 = 1%. c) the expected real interest in period 2 is interest less expected inflation = 5...
October 4, 2008

Microeconomics
Q1: I AGREE Q2: I would choose D. If the US doesnt renew, it gets $65 if China imposes sanctions and $65 is beter than the $35 the US would get if it renewed and China still imposed sanction. If the US doesnt renew and China does not impose sanctions, the US gets $140, which ...
October 3, 2008

Microeconomics; price elasticity of demand
1. I agree 2. I agree
October 3, 2008

Macroeconomics
Government purchases are a component of aggregate demand. Reducing government purchases means reducing aggregate demand; the demand curve shift inward. GDP falls, Prices decline. I would not necessarily shift the supply of loanable funds curve when governments run a deficit. ...
October 2, 2008

Economics: Price Elasticity
You have point A as (300,1000). ASSUMING that the first number, 300, is quantity and the second number, 1000, is price, and ASSUMING that you are allowed to express a price elasticity as a positive number, THEN I agree with your answer. (Note: plz check my first assumption as ...
October 2, 2008

Math
Its 600 +_ 2.58*80
October 1, 2008

Business / Economics
As an economist, I would estimate (or predict) what the elasticity of demand for theme park entertainment is. I presume the marginal cost of letting more people into the park has got to be very small. If demand is elastic, then lower away, you will make it up on increased ...
October 1, 2008

Macro Economics
Sure. see http://en.wikipedia.org/wiki/Natural_rate_of_unemployment http://en.wikipedia.org/wiki/Unemployment
September 30, 2008

Macro Economics
I believe the types of unemployment should add up. That is, total=structural+cyclical+frictional
September 29, 2008

Finance
My bad. I did'nt properly apply my own formula. 17.53 is the sum of (1.1)^i as i goes from 1 to 10. What I really want, as my original formula says, is the sum of (1/(1.1)^i) as i goes from 1 to 10. This turns out to be 6.1446. So the present value of 10 payments of A over...
September 29, 2008

Finance
First, and excel spreadsheet is very helpful for solving these kinds of problems. I believe you need to have a personal discount rate. How much would you pay to receive $40,000 thirty years from now. For this problem, I believe you are to assume the interest rate, r, is your ...
September 29, 2008

Intro to FInance
An Excel spreadsheet is very helpful in these types of problems. At the end of year 1, account=2000 At the end of year 2, account=2000*1.12+2000=4240 At the end of year 3, account=4240*1.12+2000=6748.8 Take it from here.
September 26, 2008

macroeconomics
ok, start with the given Real GDP in 2001. Deflate this to 2000 dollars using the stated inflation rate of 2.4% Real 01 GDP in 2000 dollars=9891/1.024=9659.18 Next calculate real growth in GDP between 2000 and 2001. Growth GDP = (real GDP01)/(real GDP00) = 9659.18/9817.00 = 0....
September 23, 2008

Economics
Whew. To answer this problem, I needed to make some assumptions. First, the difference between government outlays and government purchases is transfer payments. Transfer payments are not components of GDP. Second, income to foreigners is income generated in the country but ...
September 23, 2008

Microeconomics
I agree
September 23, 2008

Stats
If you remove the word "random", I would agree with your descriptions of variance and covariance.
September 22, 2008

Microeconomics
1) Draw supply and demand graphs for physicals. If government mandates (and enforces) a law for everyone to have a physical, then the demand for physicals becomes highly inelastic (nearly vertical) at Qn where Qn=population. Without a price fix, what happens to price and ...
September 22, 2008

economics
The key to trade is that both parties are better off. (If one of the trading parties is worse off because of the transaction, they would not engage.) Its win-win. And this is true regardless if the countries/business/people doing the trading are high income or not.
September 21, 2008

Finance/Investing
I would say you mis-applied the formula. Your formula is correct. Hint: I get R=0.11089, where y=55, x=0.1, and n=60.
September 21, 2008

Micro Economics
see my post dated 9/22
September 21, 2008

Finance
take a shot, what do you think. BTW, in this problem, you do not state the initial price. As a homework helper, I do not want to go looking for it in one of your earlier posts.
September 21, 2008

Finance
take a shot, what do you think.
September 21, 2008

Finance
Take a shot,what do you think. Hint: an investment today of 975 will be worth 1060 one year from now. What is the rate of return?
September 21, 2008

Economics
By itself, a ppc does'nt illustrate efficiency. In a two-good world (which is how PPCs are typically drawn), the PPC represents the maximum production of the two goods, and assumes that inputs are used efficiently. To illustrate efficiency, you need more information.
September 18, 2008

college-economics
1) 3.3 Trillion, obviously 2) Securities are debt held by someone else, e.g., the public. So, debt held by the public rises by $300B. 3) No change to the overall level of gross debt. 4) Debt as a percent of GDP is simply debt divided by GDP. So, if the denominator, goes up, ...
September 18, 2008

Economics
Anna. Your first paragraph starts off well. I would add that GDP does not include leisure. So, GDP would go up if people would work more hours. But all work and no play is not necessarily a good thing. I would also add that GDP does not count negative (or positive) ...
September 15, 2008

math
Ah, Snap-24. I loved this game. Alas, I cant find a solution. Do you know for sure if there is one?
September 11, 2008

Macroeconomics
1) Hummmm. Home sales is a toughie in the NIPA accounts. I believe that in the NIPA accounts, new homes sales are counted as private domestic investment. Check the NIPA accounts under www.BEA.GOV for more info. 2) I agree 3) You are probably right. However, in theory, one ...
September 11, 2008

finance
A calculator with an exponential function (or an Excel spreadsheet) is very helpful for solving this kind of problem. In 10 years the house will cost 125000*(1.05)^10 =203612. Solve for X where X*(1.10)^10 = 203612. I get 78501.
September 11, 2008

economics
The answers to each depend upon a production function. Were you given one? In general, increasing any factor of production should lead to an increase in output. So, output increases under all three. One further point; under most common production functions, output increases ...
September 9, 2008

managerial economics
I'm guessing you tried to cut-and-paste a table. Alas, you made need to type in all the info.
September 8, 2008

economic
First do a little research, then take a shot. What do you think?
September 2, 2008

MAth
Haven't you answered your own question? What, exactly, is your question?
September 1, 2008

Micoreconomics
1) no no no. First marginal revenue would not be increasing in a competitive market (or any other market). Go with A 2) no no no. Short run SUPPLY should be upward sloping. Go with D
September 1, 2008

Economics
Take a shot, what do you think? Hint. Draw initial supply and demand curves for labor. Now then, the increase in demand for security personnel should shift which curve? (hint 2: only one curve should shift)
August 31, 2008

Economics
In general, divided by demand deposits (checking accounts) in the bank. (Note that, for banks, savings account deposits have a different reserve requirement than checking account deposits)
August 31, 2008

economics
Do a little research then take a shot. Why do prices (markets) determine who gets what
August 26, 2008

CORRECTED ECONOMICS ?
What, exactly, is your question? Do a little research then take a shot.
August 25, 2008

Business
first do a little research, then take a shot. What do you think?
August 22, 2008

Economics (Monopoly Pricing)
A monopolist will produce where marginal cost = marginal revenue. Total revenue is P*Q = s(1-Q)*Q = sQ - sQ^2 Total cost is s^2Q Take the first derivitive (with respect to Q): MR = s - 2sQ MC = s^2 Take it from here, Solve for Q.
August 22, 2008

Microeconomics
A doesnt make sense, and, as you surmised, B and C are incorrect. Go with D. At low levels, increase specialization can improve productivity and thus lower costs. However, at higher levels of output, coordination becomes a major issue, and average productivity falls. (Other ...
August 19, 2008

Microeconomics
I too would go with B
August 19, 2008

ECONOMICS-REPOST
see my earlier post
August 18, 2008

economics
First, I suggest you do a little research on lorenz curves and gini coefficients. Here is a start: http://en.wikipedia.org/wiki/Lorenz_curve To solve this problem, first convert your percent distributions into cumulative percent distributions. So, for example, the values for ...
August 18, 2008

Macroecon
I) The money multiplier is 1/rr. In this proplem 1/.2=5. (For more info on the money multiplier, see www.wikipedia.org/wiki/Money_creation#Money_multiplier) Since the central bank is selling securities, the public is buying using their demand deposits. I say the money supply ...
August 16, 2008

Business Management & Leadership
Well, what do YOU think should be included in the power-point??
August 11, 2008

management theory
Start here. Repost if you are still having trouble. http://en.wikipedia.org/wiki/Gross_domestic_product
July 29, 2008

Microeconomics
a) set Qs=Qd and solve for P. b) Same, set Qs=Qd and solve for P. Buyer pays P+T, seller gets P. (I get P=100-T/3) c) Let P^ and Q^ be the equilibrium price and quantity. TR=T*Q^. From supply Q^=2P^. Substitute. TR=T*2P^ = T*2*(100-T/3)= 200T-2T^2/3 d) dwl is dead weight loss...
July 28, 2008

Managerial Economics
No. Draw initial supply and demand curves. You are given that demand increases -- so shift the demand curve outward. You are given that supply decreases -- so shift the supply curve inward. The new equilibrium price must be higher than before. However the direction of the ...
July 25, 2008

managerial economics
repost plz.
July 25, 2008

Economics
Marginal utility per dollar doesnt change. However, with a price increase, I need more dollars to get a single pair of shoes. I would buy less shoes and more of something else.
July 23, 2008

Economics
I would go with marginal utility per dollar as it can be used to guide the consumer to allocate is dollars of income to maximize utility. Although, truth be said, whenever I think of "marginal utility", I presume it means "marginal utility per dollar"
July 23, 2008

Statistics
Regression analysis is a statistical procedure used to find the relationship between a dependent variable and one or more independent variables. Multiple regression analysis requires there be two or more independent variables. Under a logit regression, the dependent variable ...
July 22, 2008

Econ
I dont get it either unless you can assume that the central bank views a 10% interest rate as "da bomb" and will always take action to keep the interest rate at 10%. In which case, you could solve these problems with simple algebra and plug in 0.1 for i.
July 22, 2008

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