Economics

3. Voluntary contributions toward a public good Ana and Dina are considering con

3. Voluntary contributions toward a public good Ana and Dina are considering contributing toward the creation of a botanical garden. Each can choose whether to contribute $300 to …

3. Voluntary contributions toward a public good Ginny and Lucia are considering

3. Voluntary contributions toward a public good Ginny and Lucia are considering contributing toward the creation of a water fountain. Each can choose whether to contribute $300 to…

3. Voluntary contributions toward a public good Kyoko and Rina are considering c

3. Voluntary contributions toward a public good Kyoko and Rina are considering contributing toward the creation of a building mural. Each can choose whether to contribute $300 to …

3. Voluntary contributions toward a public good Tim and Brian are considering co

3. Voluntary contributions toward a public good Tim and Brian are considering contributing toward the creation of a botanical garden. Each can choose whether to contribute $300 to…

3. War Games, Inc. produces games that simulate historical battles. The market i

3. War Games, Inc. produces games that simulate historical battles. The market is small but loyal and War Games is the largest manufacturer. The company is now thinking about intr…

3. We say that two or more agents or two or more objects share a good or service

3. We say that two or more agents or two or more objects share a good or service during a fixed period if they each interact with the good or service in a way that benefits or aff…

3. Welfare effects of a tariff in a small country Suppose Zambia is open to free

3. Welfare effects of a tariff in a small country Suppose Zambia is open to free trade in the world market for soybeans. Because of Zambia's small size, the demand for and supply …

3. What are the economic functions of each of the major International Institutio

3. What are the economic functions of each of the major International Institutions? Are they fulfilling their economic function? 4. In a globalized financial system, an action tak…

3. What do economists mean when they say that \"price floors and ceilings stifle

3. What do economists mean when they say that "price floors and ceilings stifle the rationing function of prices and distort resource allocation"? Use the ideas of consumer surplu…

3. What is equilibriun? (a) The demand for wheat is P 960 1.75Q while the supply

3. What is equilibriun? (a) The demand for wheat is P 960 1.75Q while the supply is P 1600.25Q. Find out the equilibrium P and (b) What do we mean by being "out of equilibrium"? W…

3. What is the average annual growth rate for each country? Growth rate- (Valuen

3. What is the average annual growth rate for each country? Growth rate- (Valuenew- Valueold)/Valueold Real valuu Data Egypt Gatar 1997 81.6 N/A 1999 12.4 2011 231.1 169.8 GDP (bi…

3. When a firm is maximizing total profit it will necessarily be: i. maximizing

3. When a firm is maximizing total profit it will necessarily be: i. maximizing the difference between average revenue and average total cost ii. maximizing the difference between…

3. When a town has a single university, the university may have monopsony power

3. When a town has a single university, the university may have monopsony power in the hiring of part-time faculty. But what about the hiring of full-time faculty? (Hint: The mark…

3. When there is a shift in autonomous expenditure, why is there a multiple expa

3. When there is a shift in autonomous expenditure, why is there a multiple expansion of income and real GDP Trace the multiplier effect through the first four rounds when there i…

3. Which lottery payout scheme is better? Suppose you win a small lottery and ha

3. Which lottery payout scheme is better? Suppose you win a small lottery and have the choice of two ways to be paid: You can accept the money in a lump sum (Payout Scheme X) or i…

3. Which lottery payout scheme is better? Suppose you win a small lottery and ha

3. Which lottery payout scheme is better? Suppose you win a small lottery and have the choice of two ways to be paid: You can accept the money in a lump sum or in a series of paym…

3. Which of the following are included and which are excluded in calculating thi

3. Which of the following are included and which are excluded in calculating this year's GDP? Explain in each instance. (1 point each. Total 10) (a) A monthly scholarship cheque r…

3. Which of the following criteria is inappropriate for judging alternative nati

3. Which of the following criteria is inappropriate for judging alternative national health insurance proposals? A. Equitable redistribution—assisting those with low income to hav…

3. Which of the following most accurately describes the long-run period? A. The

3. Which of the following most accurately describes the long-run period? A. The long run is a period of time in which a firm is unable to vary some of its factors of production. B…

3. Which of the following statements is CORRECT? a. Assume that two bonds have e

3. Which of the following statements is CORRECT? a. Assume that two bonds have equal maturities and are of equal risk, but one bond sells at par while the other sells at a premium…

3. Which of the following transactions are included in gross domestic product, a

3. Which of the following transactions are included in gross domestic product, and by how much does each raise GDP? a) Smith pays a carpenter $50,000 to build a garage. b) Smith p…

3. Which of the universal functions of marketing deals most directly with advert

3. Which of the universal functions of marketing deals most directly with advertising a product in magazines? A. Transporting B. Selling C. Financing D. Risk-taking E. Market info…

3. Willy Widget, Inc. manufactures widgets. Their most popular model currently s

3. Willy Widget, Inc. manufactures widgets. Their most popular model currently sells for $8.00. Sales volume is consistent at six thousand (6,000) widgets per month. A close compe…

3. With constant returns to scale, long-run average total cost: a. must be decre

3.  With constant returns to scale, long-run average total cost:   a. must be decreasing.   b. must be increasing.   c. must equal long run marginal cost.   d. is U-shaped.   e. n…

3. Wooldridge Problem 2.6 Using data from 1988 for houses sold in Andover, Massa

3. Wooldridge Problem 2.6 Using data from 1988 for houses sold in Andover, Massachusetts, from Kiel and McClain (1995), the following equation relates housing price (price) to the…

3. Working through an open-market operation Assume that the following balance sh

3. Working through an open-market operation Assume that the following balance sheet portrays the state of the banking system. The banks have no excess reserves Assets Total reserv…

3. Worth 25 points total. Consider a firm that uses only labor to produce with f

3. Worth 25 points total. Consider a firm that uses only labor to produce with function M ZL, where Y is output (a variable), Z is total factor productivity (a variable that the f…

3. You are a bank regulator working for the Federal Reserve. It is your job to s

3. You are a bank regulator working for the Federal Reserve. It is your job to see whether banks are solvent or insolvent, liquid or illiquid. Fit each bank below into one of the …

3. You are an arbitrager who starts with $1000 U.S. and wants to end up with U.S

3. You are an arbitrager who starts with $1000 U.S. and wants to end up with U.S. dollars. Following are three spot exchange rates: $0.20/krone $0.01/yen How would you engage in a…

3. You are given the following information about an economy. Income: $102 billio

3. You are given the following information about an economy. Income: $102 billion Tax: $28 billion Consumption: $48 billion Government spending: $138 billion (a) What is private s…

3. You may use the following simplified corporate tax bracket to answer the foll

3. You may use the following simplified corporate tax bracket to answer the following question: Range Tax $0 - $5,000 10% of the amount over $0 $5,000 - $20,000 $500 + 20% of the …

3. You should be able to tell whether the following statements are t rue, false

3. You should be able to tell whether the following statements are t rue, false or uncertain and also be able to justify your answer. (i) A higher rate of investment can sustain a…

3. You\'ve been hired by an unprofitable firm to determine whether it should shu

3. You've been hired by an unprofitable firm to determine whether it should shut down its operation. The firm currently uses 70 workers to produce 300 units of output per day. The…

3. Young Alasdair loves lollipops and hates oatmeal. To induce him to eat enough

3. Young Alasdair loves lollipops and hates oatmeal. To induce him to eat enough oatmeal and to restrain him from eating too many lollipops, his mum pays him 10 pence for every qu…

3. Your company is in the same position as that in the previous question, but Pr

3. Your company is in the same position as that in the previous question, but Products A and B are now complements. How should you handle pricing? a. Raise price on both products …

3. Zach’s utility preferences are given by U(x1,x2)= 3x1 + 6x2 a) What is Zach’s

3. Zach’s utility preferences are given by U(x1,x2)= 3x1 + 6x2 a) What is Zach’s Marginal Rate of Substitution? b) If income is $100, and p1 = 2, and p2 =4 determine if Zach has a…

3. [15pts] Suppose two manufacturing companies merge and the employees from one

3. [15pts] Suppose two manufacturing companies merge and the employees from one company are switched to the more generous health insurance plan of the other company. Think of "mor…

3. [40 Points] Assume that potential GDP (n, supply, is 5,000. The is as follows

3. [40 Points] Assume that potential GDP (n, supply, is 5,000. The is as follows: By definition, Y . C+1 + G. Consumption 0.3(Y-). Investment in percent. Taxes (T) are 1,000 and g…

3. [5 points] Suppose the economy has the production function, P(K, L) -Kil. The

3. [5 points] Suppose the economy has the production function, P(K, L) -Kil. The economy begins with 100 units of capital and 100 units of labor. a. Show that this production func…

3. [Lecture: Introduction to Resource Economics] (a) What is the difference betw

3. [Lecture: Introduction to Resource Economics] (a) What is the difference between a non-renewable resource and a renewable resource. Give an example of each type of resource. Wh…

3. \"Regular-looking indifference curves ones you may be familiar with from prev

3. "Regular-looking indifference curves ones you may be familiar with from previous econ courses typically have the following characteristics. For each characteristic, explain whi…

3. a. In his famous article “The Economics of the Coming Spaceship Earth” Kennet

3. a. In his famous article “The Economics of the Coming Spaceship Earth” Kenneth Boulding draws a distinction between a “cowboy economy” and a “spaceship economy.” Explain what h…

3. assume that the u.s. has 400 units of K (capital) and 300 units of L (labor)

3. assume that the u.s. has 400 units of K (capital) and 300 units of L (labor) while Mexico has 75 whits of K and 125 units of L. In both countries it takes 3K/L to produce each …

3. declines / improves 7. Determinants of aggregate supply Aa Aa The graph below

3. declines / improves 7. Determinants of aggregate supply Aa Aa The graph below shows a decrease in aggregate supply (AS) in a hypothetical economy where the currency is the doll…

3. falls to 2.5% rises to 5.5% remains at 3.5% rises to 4.5% 4. rises to remains

3. falls to 2.5% rises to 5.5% remains at 3.5% rises to 4.5% 4. rises to remains at falls to 5. 2% 1% 0.5% 4.5% 6. below above the same as Suppose expected inflation is 3.5% in th…

3. fficient securities market theory has long been under attack from behavioural

3. fficient securities market theory has long been under attack from behavioural fnange Jwhich draws on psychological theories of investor behaviour to explain why secun do not al…

3. interest rate / wealth / exchange rate 4. fall / rise 5-8. rise / fall / rema

3. interest rate / wealth / exchange rate 4. fall / rise 5-8. rise / fall / remain the same 9. interest rate / wealth / exchange rate 3. Why the aggregate demand curve slopes down…

3. it takes one hour to travel from new york city to wachington,D.C., by air, bu

3. it takes one hour to travel from new york city to wachington,D.C., by air, but it takes five hours by bus. If the airfare is $110 and the bus fare is $70, which would be cheape…

3. mars inc. produces 100,000 boxes of snickers bars which sell for $4 a box. if

3. mars inc. produces 100,000 boxes of snickers bars which sell for $4 a box. if variable costs are $3 per box, and it has 150,0000 fixed operating costs, in the short run , it sh…

3. suppose land suitable for wheat production is highly inelastic. an increase i

3. suppose land suitable for wheat production is highly inelastic. an increase in the demand for wheat bread will most likely a. cause the prices of bread and wheat to increase bu…