Economics

7. A sports organization that engages in inelastic ticket pricing a. faces a U-s

7.    A sports organization that engages in inelastic ticket pricing     a.    faces a U-shaped total revenue function     b.    prices its tickets where marginal revenue is equal…

7. Adding to Table 11.1, if in 2007 real GDP was $13,206.4 billion and nominal G

7. Adding to Table 11.1, if in 2007 real GDP was $13,206.4 billion and nominal GDP was $14,028.7 billion, calculate the percentage change from 2006 to 2007 in nominal GDP, real GD…

7. Alice and Bob can play either of these two games: The Red Game The Green Game

7. Alice and Bob can play either of these two games: The Red Game The Green Game Alice Alice Left Right Left Right Alice gets 2 Bob gets 5 Alice gets 0 Bob gets O Alice gets 5 Up …

7. An estimate of the demand function for household furniture produces the follo

7. An estimate of the demand function for household furniture produces the following results: : F= 0.0036Y1.08RR0.16p-0.48 r(2)=0.996 where F= furniture expenditures per household…

7. An industrial firm uses an economic analysis to determine which of two differ

7. An industrial firm uses an economic analysis to determine which of two different machines to purchase. Each machine is capable of performing the same task in a given amount of …

7. An oil plant 1500 meters mm and 120 mm pipes are being considered. (20 points

7. An oil plant 1500 meters mm and 120 mm pipes are being considered. (20 points) a pipelioe to consect storage tanks to a prcessing years 600 600 For this analysis, the company w…

7. Assume that Home and Foreign produce two goods, TVs and cars, and use the inf

7. Assume that Home and Foreign produce two goods, TVs and cars, and use the information below to answer the following questions: In the No-Trade Equilibrium Home Foreign Wagerv 1…

7. Assume that the most efficient production technology available for making vit

7. Assume that the most efficient production technology available for making vitamin pills has the cost structure given in the following table. Note that output is measured as the…

7. Assume the required reserve ratio is 20 percent. If the Federal Reserve buys

7. Assume the required reserve ratio is 20 percent. If the Federal Reserve buys $80 million in government securities from the public, then the money supply will immediately: A. In…

7. At profit-maximizing output, what four letters indicate: • Total revenue? (Re

7. At profit-maximizing output, what four letters indicate: • Total revenue? (Remember, four letters—a rectangle.) • Total cost? • Total variable cost? • Total fixed cost? • Total…

7. Automatic stabilizers Aa Aa Which of the following are examples of automatic

7. Automatic stabilizers Aa Aa Which of the following are examples of automatic stabilizers? Check all that apply. In the mid-1990s, Parliament passed expenditure cuts designed to…

7. Automatic stabilizers a. increase the magnitude of the multiplier of governme

7. Automatic stabilizers a. increase the magnitude of the multiplier of government purchases. b. decrease the magnitude of the multiplier of government purchases. c. have no effec…

7. Barbara and Fred have decided to put in an automatic sprinkler system at thei

7. Barbara and Fred have decided to put in an automatic sprinkler system at their cabin. They have requested bids and the lowest price they received is S3,800 from Water Systems I…

7. Because of the economic measures taken by the British against their colonies

7. Because of the economic measures taken by the British against their colonies before the (a) The Articles of Confederation did not allow the national government to tax (b) The A…

7. Benefits of free-trade agreements Suppose that Swrist, a hypothetical Swiss c

7. Benefits of free-trade agreements Suppose that Swrist, a hypothetical Swiss company that manufactures watches, exports its products to many nations and charges foreign consumer…

7. Collusive outcome versus Nash equilibrium Consider a remote town in which two

7. Collusive outcome versus Nash equilibrium Consider a remote town in which two restaurants, All-You-Can-Eat Café and GoodGrub Diner, operate in a duopoly. Both restaurants disre…

7. Computing real exchange rates Consider a basket of consumer goods that costs

7. Computing real exchange rates Consider a basket of consumer goods that costs $90 in the United States. The same basket of goods costs CNY 105 in China. Holding constant the cos…

7. Consider a Dutch investor with 1,000 euros to place in a bank deposit in eith

7. Consider a Dutch investor with 1,000 euros to place in a bank deposit in either the Netherlands or Great Britain, The (one-year) interest rate on bank deposits is 2% in Britain…

7. Consider the computer software industry, Use the industry positioning matrix

7. Consider the computer software industry, Use the industry positioning matrix (Porter 1985) , attempt to categorise the following products: • Microsoft Windows XP • Mac OS x (ti…

7. Consider the following short-run production function (where L = variable inpu

7. Consider the following short-run production function (where L = variable input, Q = output): Q=6L2-0.3L3. Does output always increase with input use? If so, prove it. If not, f…

7. Consider the problem of a monopoly supplier of water. Selling water has a con

7. Consider the problem of a monopoly supplier of water. Selling water has a constant marginal cost of £5 per cubic metre. There are two types of households in the economy. The pr…

7. Consider you own a small restaurant business. You collected data on the avera

7. Consider you own a small restaurant business. You collected data on the average variable       costs of your business for the past 12 months. You have adjusted the cost data fo…

7. Contractionary fiscal policy a) Decreases interest rate and aggregate demand.

7. Contractionary fiscal policy a) Decreases interest rate and aggregate demand. b) Aims to decrease the money supply. c) Includes a reduction in the rate of required reserves. d)…

7. Contractionary fiscal policy a) Decreases interest rate and aggregate demand.

7. Contractionary fiscal policy a) Decreases interest rate and aggregate demand. b) Aims to decrease the money supply. c) Includes a reduction in the rate of required reserves. d)…

7. Convexity of indifference curves implies that ) the marginal rate of substitu

7. Convexity of indifference curves implies that ) the marginal rate of substitution of a good decreases as the consumer moves along the indifference curve ) the total utility dec…

7. Correcting for negative externalities - Regulation versus tradable permits Su

7. Correcting for negative externalities - Regulation versus tradable permits Suppose the government wants to reduce the total pollution emitted by three local firms. Currently, e…

7. Correcting for negative externalities - Regulation versus tradable permits Su

7. Correcting for negative externalities - Regulation versus tradable permits Suppose the government wants to reduce the total pollution emitted by three local firms. Currently, e…

7. Correcting for negative externalities - Regulation versus tradable permits Su

7. Correcting for negative externalities - Regulation versus tradable permits Suppose the government wants to reduce the total pollution emitted by three local firms. Currently, e…

7. Correcting for negative externalities -Taxes versus tradablepermits Paper fac

7. Correcting for negative externalities -Taxes versus tradablepermits Paper factories emit chemicals as a waste product. This generates a cost to society that is not paid for by …

7. Correcting for negative externalities Regulation versus tradable permits Supp

7. Correcting for negative externalities Regulation versus tradable permits Suppose the government wants to reduce the total pollution emitted by three local firms. Currently, eac…

7. Correcting for negative externalities Taxes versus tradablepermits Power stat

7. Correcting for negative externalities Taxes versus tradablepermits Power stations emit sulfur dioxide as a waste product. This generates a cost to society that is noft paid for…

7. Currently the U.S. national debt is over $17 Trillion. Many people feel the h

7. Currently the U.S. national debt is over $17 Trillion. Many people feel the high level of the national debt is a very bad thing and it should be paid off. a. List and explain 3…

7. Dates cannot be grown just anywhere, but conditions in southern California ar

7. Dates cannot be grown just anywhere, but conditions in southern California are ideal for this purpose. Suppose there is an agricultural co-op in Palm Springs, CA that is the on…

7. Describe the deindustrialization process. 8. What is the spatial distribution

7. Describe the deindustrialization process. 8. What is the spatial distribution of the growth and decline of industry in Europe? 10. Why is eastern and western Europe so differen…

7. Developing countries need to trade with developed countries because: a. devel

7. Developing countries need to trade with developed countries because: a. developing countries export capital to developed countries and increase their foreign exchange reserve. …

7. Disintermediation is A. the unraveling of traditional distribution structures

7. Disintermediation is A. the unraveling of traditional distribution structures. B. a way to avoid higher taxes through transfer pricing. C. separating markets, sometimes based o…

7. Douglas preferences are represented but the utility function U(ry) y. So his

7. Douglas preferences are represented but the utility function U(ry) y. So his marginal utility will be U, 2ry and U, - 3r'y'. He faces the following prices (P.PI) (a) The slope …

7. During a time of bad economic news, a bank can fail if enough people believe

7. During a time of bad economic news, a bank can fail if enough people believe it is failing 8 The Rosenthal or Pygmalion Effect, which demonstrated students respond to teacher's…

7. During a time of bad economic news, a bank can fail if enough people believe

7. During a time of bad economic news, a bank can fail if enough people believe it is failing 8 The Rosenthal or Pygmalion Effect, which demonstrated students respond to teacher's…

7. During a time of bad economic news, a bank can fail if enough people believe

7. During a time of bad economic news, a bank can fail if enough people believe it is failing 8 The Rosenthal or Pygmalion Effect, which demonstrated students respond to teacher's…

7. Economics Intern for Lancaster Barnstormers Some have argued that poor attend

7. Economics Intern for Lancaster Barnstormers Some have argued that poor attendance at the Lancaster Barnstormers baseball games is related to high ticket prices. As their summer…

7. Education is an example of a positive externality: acquiring more education b

7. Education is an example of a positive externality: acquiring more education benefits the individual student and having a more highly educated work force is good for the economy…

7. Effect of a tax on buyers and sellers The following graph shows the daily mar

7. Effect of a tax on buyers and sellers The following graph shows the daily market for shoes. Suppose price buyers pay and the price sellers receive the government institutes a t…

7. Effect of quotas on local consumers and producers The rollowing graph shows t

7. Effect of quotas on local consumers and producers The rollowing graph shows the U.S. domestic market for towels. 20 18 16 14 12 10 12 36 48 60 QUANTITY (Millians af towels In t…

7. Effects of a quota on domestic prices The following graph shows the domestic

7. Effects of a quota on domestic prices The following graph shows the domestic demand for and supply of barley in Canada. The horizontal green line shows the world price of $2 fo…

7. Factors that impact the yield curve There are three factors that can affect t

7. Factors that impact the yield curve There are three factors that can affect the shape of the Treasury yield aurve (*t, IPt, and MRP) and five factors that can affect the shape …

7. Farm Profit [20 pts] A farmer-musician (Willie Nelson?) can give music lesson

7. Farm Profit [20 pts] A farmer-musician (Willie Nelson?) can give music lessons at $20 per hour. One summer he spends $2000 and 100 hours growing and harvesting crops on land he…

7. Federal funds rate targeting Aa Aa In conducting monetary policy, the Federal

7. Federal funds rate targeting Aa Aa In conducting monetary policy, the Federal Open Market Committee (FOMC) targets a Federal funds rate and the Federal Reserve Bank of New York…

7. Fixed exchange rates Aa Aa Consider the exchange rate between the Malaysian r

7. Fixed exchange rates Aa Aa Consider the exchange rate between the Malaysian ringgit and the euro. Suppose the Malaysian government and the euro zone governments agree to fix th…

7. Fixed exchange rates Consider the exchange rate between the Moroccan dirham a

7. Fixed exchange rates Consider the exchange rate between the Moroccan dirham and the euro. Suppose the Moroccan government and the Eurozone governments agree to fix the exchange…