Recent Homework Questions About Economics
Calculate the percentage return on the security if the payoff to the security in one year is $1,000, ... security in one year is $1,000, $1,500, $2,000, or $2,500.
Sunday, April 14, 2013 at 3:28pm
Economists often view life cycle variation in income as one form of transitory variation in income around people's lifetime or permanent, income. In this sense, how does your current income compare to your permanent income? Do you think your current income accurately ...
Saturday, April 13, 2013 at 10:42pm
College students sometimes work as summer interns for private firms or for the government. Many of these positions pay very little or nothing. What is the opportunity cost of taking such a job? Explain why students might be willing to take such jobs. If you were to compare the...
Saturday, April 13, 2013 at 10:42pm
Imagine a firm that hires two types of workers: some with computer skills and some without. If technology advances so that computers become more useful to the firm, what happens to the marginal product of the two types of workers? What happens to equilibrium wages? Explain.
Saturday, April 13, 2013 at 10:42pm
There are two ways to protect your car from theft. The "club" makes it difficult for a car thief to take your car. Lojack makes it easier for the police to catch the car thief who has stolen it. Which of these types of protection conveys a negative externality on ...
Saturday, April 13, 2013 at 10:41pm
Thirty years ago, the market for chicken was perfectly competitive. Then, Frank Perdue started marketing chicken under his own name. How do you suppose Perdue created a brand name for chicken? What did he gain from doing so? What did society gain from having brand name chicken...
Saturday, April 13, 2013 at 10:40pm
home economics, life science, mathematics and tourism
What career is ther when taking those subjects
Thursday, April 11, 2013 at 11:45pm
Suppose average movie attendance is 250 million tickets when prices are $7 a ticket and 200 million when prices are $9 a ticket. Other things being equal, the data imply that the elasticity of demand for movie tickets is: A. elastic, so the increase in price caused total ...
Thursday, April 11, 2013 at 2:02pm
What describes a tax that is assessed according to benifits received principle? a.) Thosew who recieve direct payment of the money tha tax generates are the people who pay the tax b.) Those who pay the tax recieve the benifits the tax provides. c.)One group recieves benefits ...
Thursday, April 11, 2013 at 10:56am
Hi, The demand for inflatable garden gnomes is given by P = 300 2Q, while the supply of is P= 100 + Q/2. How many garden gnomes are traded in equilibrium? I found the answer to be Q = 80. The related question was the one I had difficulty with: Suppose that the market ...
Wednesday, April 10, 2013 at 1:30am
Among perfect competition, monopolistic competition, oligopoly, and monopoly, how would you classify the markets for each of the following drinks ? Tap water Bottled water Cola Beer
Tuesday, April 9, 2013 at 9:34pm
Use the concepts of marginal cost and marginal revenue to derive an optimal capital budget for Company X, which has identified 7 possible investment projects and determined its cost of capital as shown below. Table A: Alternative Projects, Required Investments, and Expected ...
Monday, April 8, 2013 at 5:58am
An investor desires to make an investment in bonds provided he realize 10% on his investment. How much can he afford to pay for a $10000 bond that pays 7% interest annually and will mature 20 years hence?
Sunday, April 7, 2013 at 7:37pm
the south African government is not providing enough welfare or subsidies to the poor and underpriviledged. what are the cost and consequences of providing the subsidies and welfare?
Friday, April 5, 2013 at 4:36am
Normally, higher interest rates in a country cause the ___ for that country's currency to increase as money flows to the higher interest rates. This depends on the perceived ___. For the first blank I have "demand", but I'm not sure about the second blank?
Thursday, April 4, 2013 at 3:44pm
Suppose you have $7,000 in savings when the price level index is at 100. A. If inflation pushes the price level up by 10 percent, what will be the real value of your savings? B. What is the real value of your savings if the price level declines by 10 percent?
Thursday, April 4, 2013 at 3:03pm
In your (imaginary) neighbourhood, the general consensus seems to be that 4 out of 5 cars are in good working order. The price for a good second-hand car is 2000$, while malfunctioning ones typically fetch 600$. (a) What is the expected value of a used car
Wednesday, April 3, 2013 at 9:03pm
The price of cranberry juice suddenly increases. As a result, Glenda begins drinking more grape juice, which is less expensive, but tastes just as good to her. In this case, Glendas elastic demand is due to A. availability of substitutes. B. relative importance. C. ...
Monday, April 1, 2013 at 12:00pm
The price of cranberry juice suddenly increases. As a result, Glenda begins drinking more grape juice, which is less expensive, but tastes just as good to her. In this case, Glendas elastic demand is due to i think is a but im not sure
Monday, April 1, 2013 at 11:51am
After Iraq invaded Kuwait gasoline prices rose dramatically up to 50%. These were many effects of the increased price of gasoline. Explain the following effects in terms of the income effect, or the substitution effect, or both effects. a)People drove less and purchased...
Saturday, March 30, 2013 at 10:46am
How would a decision by the owners of the copper smelters to operate each smelter longer than has been the practice in the past affect the elasticity of demand for labour in the copper industry?
Friday, March 29, 2013 at 6:39am
Singer Taylor Swift has a monopoly over a scarce resource: herself. She is the only person who can produce a Taylor Swift concert. Does this fact imply that the government should regulate the prices of her concerts? Why or why not?
Thursday, March 28, 2013 at 10:53pm
Is your consumer behavior influenced by advertising or the news? Discuss one or two examples of media that have influenced your desires or affected your consumer choices
Tuesday, March 26, 2013 at 3:21am
Give an example of a fairly major purchasing decision you've made in your lifetime. How did you justify the purchase? How did you prepare for it financially once you decided to make the purchase?
Tuesday, March 26, 2013 at 3:05am
I need to write an essay titled " How are we all economists?" and I was wondering if you guys could give me some ideas on how to start it. Bulletpoints would be the most helpful.
Monday, March 25, 2013 at 9:59am
Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day studying. a. Draw Maria's production possibilities frontier for reading economics and sociology. b. What is Maria's oppurtunity cost of ...
Sunday, March 24, 2013 at 9:17pm
Janet Home went to Citizen Bank. She borrowed $7,000 at a rate of 8 percent. The date of the loan was September 20. Janet hoped to repay the loan on January 20. Assuming the loan is based on ordinary interest, Janet will pay back interest on January 20:
Tuesday, March 19, 2013 at 8:49pm
Bob's lawn mowing service is a profit-maximizing competitive firm. Bob mows lawns for $27.00 each. His total cost each day is $280 , of which $30 is a fixed cost. He mows 10 lawns a day. What can you say about Bob's short-run decision regarding shut-down and long-run ...
Monday, March 18, 2013 at 10:09pm
Assume that the average income of an artist is $40,000 per year and that C=0.75Y^P. Further assume that in a good year the artist earns $50,000 and that in a bad year she earns $30,000. 1)Calculate the artist's average propensity to consume on average, in a good year and ...
Monday, March 18, 2013 at 12:50am
Suppose two passengers end up with a reservation to Los Angeles. Two alternatives are proposed: a. Toss a coin b. Sell the ticket to the highest bidder Compare the two options from the standpoint of efficiency and equity.
Sunday, March 17, 2013 at 10:32am
Suppose your college charges you separately for tuition and for room and board. What is a cost of attending college that is not an opportunity cost? What is an explicit opportunity cost of attending college? What is an implicit opportunity cost of attending college?
Friday, March 15, 2013 at 11:44pm
A senator wants to raise tax revenues and make workers better off. A staff member proposes raising the payroll tax paid by firms and using part of the extra revenues to reduce the payroll tax paid by workers. Would this strategy achieve the senator's goal? Explain.
Friday, March 15, 2013 at 11:42pm
How do I figure out the principal in the equation principal X rate X time? I am borrowing $255,920.00 which is the total amount of the home ($319,900.00) minus $63,980.00 (20%I put down). I am trying to figure out what my monthly payment on the loan which willneed to be paid ...
Friday, March 15, 2013 at 11:04am
. If 96% of Chinese couples have one child (which is female 50% of the time), and the remaining 4% of Chinese couples engage in sex-selective abortion until they have a male child, what is the ratio of females per 100 males among the children (to the nearest whole number)? ...
Friday, March 15, 2013 at 6:32am
I am doing a housing project for econimics class. I am buying a house that costs $319,900.00. I have to put 20% down which is $63,980.00. This is so I dont have to pay PMI. How much do I have to borrow?
Wednesday, March 13, 2013 at 1:10pm
Consider the Linear demand function Q = 20 - 0.5P c- Using calculus, find the level of output, Qrmax, where total revenue reaches its maximum value. What price Prmx maximizes total revenue? What is the value of TR at this maximum point. d- Write the equation for marginal ...
Tuesday, March 12, 2013 at 9:37pm
1. If average movie attendance is 250 million when prices are $7 a ticket and 200 million when prices are $9 a ticket, the elasticity of demand for movie tickets is about: A. 0.0. B. 0.9. C. 1.1. D. 1.8.
Sunday, March 10, 2013 at 12:59pm
Introduction to Business Environment Chapter 2
The world's population is growing more slowly than expected, and there are some industrial countries in which growth might be so slow that there will be too many old people and too few young people to support them. (Points : 1) True False 2. In a free market system, price ...
Sunday, March 10, 2013 at 5:40am
I have to do a housing project for economincs class. I have to pick a house. It has to include what kind of house it is and the square footage of the house and the square feet of the living space. Where would I search for this information
Wednesday, March 6, 2013 at 9:59am
Present value equivalent for geometrically increasing series when the first year base of 4,000 increasing at 4% per year to year 15 at an interest rate 17% compounded continuously? urgent Help please
Tuesday, March 5, 2013 at 8:42pm
Data Collected in the imaginary econmomy of Chipolaysia reveals that when the price of dorf decreased by 25%, the quantity of dorf sold increased by 10%, and the quanity of goo demanded decreased by 30%. What is the cross-price of demand between go and dorf.
Friday, March 1, 2013 at 10:18pm
Please explain these question in words! How will demand and supply curve shift? 1. Labor market for math and science teachers when wages available in private industries utilizing these skills rise. 2. Labor market for university professors when college...
Wednesday, February 27, 2013 at 1:28am
We're looking at the market for cat food. When the price is $10, the quantity sold is 1000 bags. When the price drops 10%, the quantity sold increases 30%. Calculate the price elasticity of demand. (Answer in format X.XX, round to the nearest hundredth.) I know the formula...
Monday, February 25, 2013 at 7:13pm
A $90,000 investment is made. Over a 5 year period, a return of $30,000 occurs at the end of the first year. Each successive year yields a return that is $3,000 less than the previous year's return. If money is worth 5 percent, use a gradient series factor to determine the...
Saturday, February 23, 2013 at 8:30am
Ben deposits $5000 now into an account that earns 7.5 percent interest compounded annually. He then deposits $1000 per year at the end of the first and second years. How much will the account contain 10 years after the initial deposit?
Thursday, February 21, 2013 at 3:59pm
The following is a cost function for clinic visits in a small inner city clinic: a.Determine the marginal cost for each level of output. b.If the price per visit is given to be $25, at what level of visits will the maximum profit position be? What are the profits at this level...
Monday, February 18, 2013 at 7:49pm
1.In an attempt to curb the problem of unemployment and win the forthcoming elections the government of the republic of zambia has decided to hire unemployed workers who had previously been receiving unemployment benefits as government employees and will now pay them to do ...
Wednesday, February 13, 2013 at 10:22am
Median income in a country rises by $5000 per year. The price of good X falls by $4. Quantity demanded for good x falls by 15,000 units per year. What can we say with good X?
Wednesday, February 13, 2013 at 2:36am
AMERICAN GOVERMENT Would someone PLEASE check ans
1. The source of the Supreme Courts authority is (D) moral suasion. judicial activism. concurring opinion. dissent. 2. When the Supreme Court hands down a decision, it is (A) often a mixed decision with majority, dissenting, and even concurring opinions. always a ...
Sunday, February 10, 2013 at 9:41pm
Suppose your marketing department does a survey of potential users and finds that these users place the following values on the two versions of your software. Software Version Home Users Commercial Users Full featured version $175 $225 Disable version $150 $200 If the numbers...
Sunday, February 10, 2013 at 9:33pm
Suppose the consumer has convex preferences, and we know (2, 4) ~(6, 1). Is the statement (4,2.5) >=(6, 1) correct? What about the statement (4, 2.5)> (6, 1)? Suppose now the consumer has strictly convex preferences, and and we know (2, 4) ~ (6,1). Does any of your ...
Saturday, February 9, 2013 at 8:08pm
data collected in the imaginary economy of karabekiar reveals that when price of bork increased by 20%, the quantity of bork sold decreased by 15% and the quantity of perf demanded decreased by 10% what is the cross-price elasticity of demand between perf and bork?
Thursday, February 7, 2013 at 8:15pm
Thursday, December 4, 2008 at 10:30pm by kim. PHYSICS 1. A 4.0 N force acts for 3 ... The following is a list of figures for a given year in billions of dollars. Using this data, compute: (a) GDP; (b) NDP; (c) NI; (d) PI; (e) DI; (f) Net exports
Thursday, February 7, 2013 at 4:16am
One supply-side measure introduced by the Reagan administration was a cut in income tax rates. Use an aggregate demand/aggregate supply diagram to show what effect was intended. What might happen if such a tax cut also shifted the aggregate demand curve?
Monday, February 4, 2013 at 9:57pm
If capitals share of income is 25% and labors share of income is 75%, the stocks of both capital and labor increase by 50% (K/K = N/N = 0.5), and there is no technology growth, at what rate will potential output grow? Will the capital-labor ratio ...
Monday, February 4, 2013 at 4:44pm
There are 10 identical consumers whose demand is D: p = 20 - 10q. There are 10 identical firms, each firm's marginal cost is MC(q)= 5 + 5q. The market is competitive. a) derive the market demand function b) derive the market supply function c) what is the market ...
Monday, February 4, 2013 at 11:24am
If the government imposes a quantity tax on the consumption of a good, it means that the consumer has to pay for each unit of the good its price plus the tax. For example, if the price of a chocolate bar is $5 and the government imposes a tax of 20 cents on the consumption of ...
Saturday, February 2, 2013 at 5:29pm
Intermediate Macro Economics
To complete the analysis, Chuck wants to know more about the revenue that he can generate from his farm. The price of corn, p(y), depends on how much Chuck produces. The price function is speci ed as p(y) = 3 0:05y c. The revenue that Chuck can generate depends on both the ...
Wednesday, January 30, 2013 at 9:57pm
The country of Arkanslavia had money supplies of 183 million arkollars in 2010 and 644 million in 2011. They have real output of 791 arkollars in both years. In Arkanslavia velocity was 7 in 2010 but changed to 5 in 2011. What is the difference in the price level between 2011 ...
Wednesday, January 30, 2013 at 8:20pm
a firm in a purely competitive industry is currently producing a 1000 unir per day at a total cost of $450. if the firm produced 800 units per day, it total cost will be $300, and it it produced 500 units per day, it total cost will be $275. Requirements: (1) what are the firm...
Sunday, January 27, 2013 at 5:14pm
Select a product and for that the government places a mandated price ABOVE the equilibrium price, based on your research how would this affect the market equilibrium, explain your view.
Thursday, January 17, 2013 at 7:09pm
Jesse and Kimberly recently graduated from college and are starting a family. Currently, they are just making ends meet with their $45,000 salary. They want to contribute the maximum amount (currently $2,000) to fully fund an Educational Savings Account when their baby is born...
Wednesday, January 16, 2013 at 9:31pm
Kimberly works for a well known financial company as a sales representative. She earns a small base salary but receives commission off every product she sells. Kimberly has basic living expenses in addition to a student loan. She wants to start adding to her Roth IRA and buy a...
Wednesday, January 16, 2013 at 9:29pm
Owners of digital cameras have to buy memory cards in order to use the cameras. Cameras and memory cards are: A. substitutes. B. complements C. unrelated. D. elastic.
Wednesday, January 16, 2013 at 6:46pm