Thursday
July 24, 2014

Posts by economyst


Total # Posts: 1,121

taxes please help
I get a refund of -1042. Over the course of a year, she will have 26 pay periods, so, she will withhold 260*26 = 6760. Her final final liability is 6240+235-374-563 = 5718. So she is due a refund of 6760-5718 = 1042

ecomonics
Find where supply=demand -- from your table at price=8 Qd=16000 and Qs=16000. tada. from you equation set Qd=Qs or 20000-500P = 8000+3000P. Solve for P (use algebra) (hint: I get P=8) tada again, thats all there is to it.

International Trade
I think on this question, Google is your friend. Start here: http://en.wikipedia.org/wiki/Immiserizing_growth (Broken Link Removed)

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?

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"

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.

math
they became a pear (pair) (groan)

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

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

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.

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.

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?

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 priz...

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.

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

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)

Managerial Economics
take a shot, what do you think?

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

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 co...

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

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. ...

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 efficie...

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 wit...

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.

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

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 ...

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 produc...

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

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 ...

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.

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 w...

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)...

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 ...

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 w...

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 w...

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 m...

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...

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...

Statistics
I dont understand your question. Could you expand on it.

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 ...

Microeconomics
I agree.

macroeconomics 205
I believe the answer is 500.

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).

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%

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...

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 assu...

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).

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 ...

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...

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% -...

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 i...

Microeconomics; price elasticity of demand
1. I agree 2. I agree

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. ...

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 ...

Math
Its 600 +_ 2.58*80

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 volu...

Macro Economics
Sure. see http://en.wikipedia.org/wiki/Natural_rate_of_unemployment http://en.wikipedia.org/wiki/Unemployment

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

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...

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 p...

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.

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....

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 flo...

Microeconomics
I agree

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

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 quant...

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.

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.

Micro Economics
see my post dated 9/22

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.

Finance
take a shot, what do you think.

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?

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.

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, th...

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) externaliti...

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

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 coul...

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.

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 th...

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

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

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

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

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)

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)

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

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

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

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.

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 re...

Microeconomics
I too would go with B

ECONOMICS-REPOST
see my earlier post

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 s...

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 g...

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

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

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,...

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 chan...

managerial economics
repost plz.

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.

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