Economics

Suppose that because of climate or some other reason, country A\'s wheat farmers

Suppose that because of climate or some other reason, country A's wheat farmers have higher productivity than country B's wheat farmers. That is, on the same size farm, country A …

Suppose that before 9/11, the situation was the one indicated by point A; that i

Suppose that before 9/11, the situation was the one indicated by point A; that is, there were 55 million visitors per year, and the probability of intercepting any particular terr…

Suppose that before 9/11, the situation was the one indicated by point A; that i

Suppose that before 9/11, the situation was the one indicated by point A; that is, there were 55 million visitors per year, and the probability of intercepting any particular terr…

Suppose that between the utility functions u (x, y) and v (x, y) there exists th

Suppose that between the utility functions u (x, y) and v (x, y) there exists the relation v (x, y) = f (u (x, y)). Say which of the following functions they can be used as utilit…

Suppose that both Canada and the United States have had, up until the beginning

Suppose that both Canada and the United States have had, up until the beginning of Period 1, inflation rates of 0%. Now suppose that, at the beginning of Period 1, the rate of in…

Suppose that both of the events you have just analyzed are partly responsible fo

Suppose that both of the events you have just analyzed are partly responsible for the decrease in the price of hamburgers. Based on your analysis of the explanations offered by th…

Suppose that both wheat and corn have an income elasticity of 0.1. a. If the ave

Suppose that both wheat and corn have an income elasticity of 0.1. a. If the average income in the economy increases by 2 percent each year, by what percentage does the quantity d…

Suppose that both wheat and corn have an income elasticity of 0.2. a. If the ave

Suppose that both wheat and corn have an income elasticity of 0.2. a. If the average income in the economy increases by 4 percent each year, by what percentage does the quantity d…

Suppose that both wheat and corn have an income elasticity of 0.2. a. If the ave

Suppose that both wheat and corn have an income elasticity of 0.2. a. If the average income in the economy increases by 2 percent each year, by what percentage does the quantity d…

Suppose that business travelers and vacationers have the following demand for ai

Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston: Price Quantity Demanded Quantity Demanded for business trave…

Suppose that consumer spending initially rises by $5 billion for every 1 percent

Suppose that consumer spending initially rises by $5 billion for every 1 percent rise in household wealth and that investment spending initially rises by $20 billion for every 1 p…

Suppose that consumer spending initially rises by $5 billion for every 1 percent

Suppose that consumer spending initially rises by $5 billion for every 1 percent rise in household wealth and that investment spending initially rises by $20 billion for every 1 p…

Suppose that consumers see all tomatoes as identical and that there are many tom

Suppose that consumers see all tomatoes as identical and that there are many tomato producers in the market. The current market equilibrium price of tomatoes is $2.30 per pound. P…

Suppose that consumers value a high-quality used laptop computer at a price of $

Suppose that consumers value a high-quality used laptop computer at a price of $400 and a low-quality used laptop at $100. The supply of high-quality laptops is Qh = Ph 100 and th…

Suppose that corn currently costs $4 per bushel and that wheat currently costs $

Suppose that corn currently costs $4 per bushel and that wheat currently costs $3 per bushel. Also assume that the price elasticity of corn is 0.10, while the price elasticity of …

Suppose that corn currently costs $4.00 per bushel and that wheat currently cost

Suppose that corn currently costs $4.00 per bushel and that wheat currently costs $3.00 per bushel. Also assume that the price elasticity of corn is 0.15, while the price elastici…

Suppose that country A has total labour force of 10,000,000 people, but 5% of th

Suppose that country A has total labour force of 10,000,000 people, but 5% of these people are just seeking jobs (those just graduate from college for instance). Another 2,000,000…

Suppose that country A produces two goods (C and T) under conditions of constant

Suppose that country A produces two goods (C and T) under conditions of constant opportunity costs. Given its resources, the maximum C that it can make is 1200 units, and the oppo…

Suppose that currency in circulation is $500 billion, the amount of checkable de

Suppose that currency in circulation is $500 billion, the amount of checkable deposits is $1,000 billion, excess reserves are $150 billion, and the required reserve ratio on check…

Suppose that currency in circulation is $600 billion, the amount of checkable de

Suppose that currency in circulation is $600 billion, the amount of checkable deposits is $900 billion, and excess reserves are $15 billion. The required reserve ratio on checkabl…

Suppose that currency in circulation is $600 billion, the amount of checkable de

Suppose that currency in circulation is $600 billion, the amount of checkable deposits is $900 billion, traveler’s checks are $0, excess reserves are $15 billion, and the required…

Suppose that currency in circulation is $600B, demand deposits are $900B, and ex

Suppose that currency in circulation is $600B, demand deposits are $900B, and excess reserves are $15B. The required reserve ratio is 10%. a. Calculate the money supply, the curre…

Suppose that currency in cirulation is $600 billion, the amount of checkable dep

Suppose that currency in cirulation is $600 billion, the amount of checkable deposits is $900 billion, and excess reserves are $15 billion. a. Calculate the money supply, the cur…

Suppose that currency traders have increased confidence in the country\'s econom

Suppose that currency traders have increased confidence in the country's economic prospects, bidding up the value of its currency. Aggregate demand (AD) components include consump…

Suppose that current inflation is less than the central bank\'s inflation target

Suppose that current inflation is less than the central bank's inflation target The Taylor Rule guides the central bank to do the following O Increase the Federal Funds rate, whic…

Suppose that currently both countries are in steady state, when an earthquake de

Suppose that currently both countries are in steady state, when an earthquake destroys half of the capital stock of Country E, and also kills half of its population. We would expe…

Suppose that currently both countries are in steady state, when an earthquake hi

Suppose that currently both countries are in steady state, when an earthquake hits both countris. In country G it destroys half of the capital stock, but does not kill any of its …

Suppose that currently, the economy is overutilizing its resources.is overutiliz

Suppose that currently, the economy is overutilizing its resources.is overutilizing its resources. Which of the following correctly describes what type of monetary policy the Fed …

Suppose that dangerous bacteria are found in some of the ground beef sold in gro

Suppose that dangerous bacteria are found in some of the ground beef sold in grocery stores. What happens in the market for ground beef? (For the purposes of this problem, the sho…

Suppose that demand and supply for a certain product X in a competitive market a

Suppose that demand and supply for a certain product X in a competitive market are given by Dx=100-2Px & Sx=10+Px 1) Calculate equilibrium quantity 2) Now suppose that the gov…

Suppose that demand for a good increases and, at the same time, supply of the go

Suppose that demand for a good increases and, at the same time, supply of the good decreases. What would happen in the market for the good? a. Equilibrium price would increase, bu…

Suppose that demand for a good increases and, at the same time, supply of the go

Suppose that demand for a good increases and, at the same time, supply of the good decreases. What would happen in the market for the good? Answer A)Equilibrium price would decrea…

Suppose that demand in the market for good X is given by the equation e-30-p and

Suppose that demand in the market for good X is given by the equation e-30-p and that supply in the market for good X is given by the equation -2p a. Refer to Equations. What are …

Suppose that demand increases. If the total cost curves for the firms do not cha

Suppose that demand increases. If the total cost curves for the firms do not change with the number of firms: the output per firm, total market quantity, and number of firms will …

Suppose that disposable income, consumption, and saving in some country are $800

Suppose that disposable income, consumption, and saving in some country are $800 billion, $700 billion, and $100 billion, respectively. Next, assume that disposable income increas…

Suppose that disposable income, consumption, and saving in some country are $800

Suppose that disposable income, consumption, and saving in some country are $800 billion, $700 billion, and $100 billion, respectively. Next, assume that disposable income increas…

Suppose that during a period of inflation, the Fed reduced its holding of U.S. s

Suppose that during a period of inflation, the Fed reduced its holding of U.S. securities from $600 billion to $580 billion. This indicates that the Fed was: seeking to reduce the…

Suppose that during the 1940s, the income elasticity of maple syrup was estimate

Suppose that during the 1940s, the income elasticity of maple syrup was estimated to be about +1.5. Today, the income elasticity for maple syrup is -0.74. This would imply that ov…

Suppose that during the past year, the price of a laptop computer rose from $2,1

Suppose that during the past year, the price of a laptop computer rose from $2,100 to $2,550. During the same time period, consumer sales decreased from 470,000 to 363,000 laptops…

Suppose that during the past year, the price of a laptop computer rose from $2,1

Suppose that during the past year, the price of a laptop computer rose from $2,100 to $2,550. During the same time period, consumer sales decreased from 470,000 to 363,000 laptops…

Suppose that each 0.1 percentage point decrease in the equilibrium interest rate

Suppose that each 0.1 percentage point decrease in the equilibrium interest rate induces a $10 billion increase in real planned investment spending by businesses. In addition, the…

Suppose that each firm that operates in an industry has a total cost curve given

Suppose that each firm that operates in an industry has a total cost curve given by TC = 7,000 + 50Q. In this industry, the lowest average total cost of producing 1,000 units of o…