Economics

Suppose that in a given year, Total Consumption in the us economy was $ 11,836 b

Suppose that in a given year, Total Consumption in the us economy was $ 11,836 billion, and Total Disposable Incomes was $ 12,501 billion in the same given year. What was the Aver…

Suppose that in a recent market period, the following relationship existed betwe

Suppose that in a recent market period, the following relationship existed betwen the price of tablet devices and the quantity supplied and quantity demanded. Price:             Q…

Suppose that in a simple economy people consume only three goods, as shown below

Suppose that in a simple economy people consume only three goods, as shown below with their prices in each year, and the economy-wide consumption in each year. a) What is the perc…

Suppose that in a year an American worker can produce 300 shirts or 100 computer

Suppose that in a year an American worker can produce 300 shirts or 100 computer chips, while a Chinese worker can produce 200 shirts or 40 computer chips. a) Graph the production…

Suppose that in addition to repairing your car, you can also spend money adverti

Suppose that in addition to repairing your car, you can also spend money advertising. If you repair your car for Hours and spend A dollars advertising, your benefit(the amount you…

Suppose that in addition to repairing your car, you can also spend money adverti

Suppose that in addition to repairing your car, you can also spend money advertising. If you repair your car for H hours and spend A dollars advertising, your benefit (the amount …

Suppose that in an attempt to protect workers, Congress imposes legislation that

Suppose that in an attempt to protect workers, Congress imposes legislation that makes it more difficult and time consuming to reduce workers’ nominal wages. How would SRAS and LR…

Suppose that in order to prevent loss of revenue due to used product markets, sm

Suppose that in order to prevent loss of revenue due to used product markets, smart phone providers successfully lobby the government to make it illegal to buy or sale used smart …

Suppose that in response to a severe recession a country with an overvalued curr

Suppose that in response to a severe recession a country with an overvalued currency and a fixed exchange rate does, in fact, move to a floating exchange rate system. This move to…

Suppose that in response to huge job losses in the U.S. textle industry, the Con

Suppose that in response to huge job losses in the U.S. textle industry, the Congress imposes a 100 percent tarif on imports of textiles from China. With the increased tarif, US. …

Suppose that in some country real output in the private business sector was $300

Suppose that in some country real output in the private business sector was $300 billion in one year and $309 billion in the next year. (All dollar amounts are in constant dollars…

Suppose that in some country real output in the private business sector was $300

Suppose that in some country real output in the private business sector was $300 billion in one year and $309 billion in the next year. (All dollar amounts are in constant dollars…

Suppose that in the base year, 2002, the typical basket of goods purchased by ho

Suppose that in the base year, 2002, the typical basket of goods purchased by households included 5 pairs of jeans, and 7 pairs of shorts. The price of each item in 2002 was $12 f…

Suppose that in the beginning of the year, the exchange rate between US-dollar a

Suppose that in the beginning of the year, the exchange rate between US-dollar and the euro is exactly 2 $/euro. At that time, a one-year US treasury bill yield an interest rate o…

Suppose that in the beginning of the year, the exchange rate between US-dollar a

Suppose that in the beginning of the year, the exchange rate between US-dollar and the euro is exactly 2 $/EURO. At that time, a one-year US treasury bill yield an interest rate o…

Suppose that in the country of Utopia, annual production and prices in 2008 and

Suppose that in the country of Utopia, annual production and prices in 2008 and 2009 for this three- good economy are as follows: Production Q2008 Price P2008 Production Q2009 Pri…

Suppose that in the domestic market for computer chips the demand is Pd = 110 Qd

Suppose that in the domestic market for computer chips the demand is Pd = 110 Qd . The domestic supply is Ps = 10 + Qs . Foreign suppliers would be willing to supply any number of…

Suppose that in the domestic market for computer chips the demand is Pd = 110 Qd

Suppose that in the domestic market for computer chips the demand is Pd = 110 Qd . The domestic supply is Ps = 10 + Qs . Foreign suppliers would be willing to supply any number of…

Suppose that in the figure to the right, the government knows that the MPC is eq

Suppose that in the figure to the right, the government knows that the MPC is equal to 0.800.80 and that the amount of the horizontal distance that the AD curve had to be shifted …

Suppose that in the small country of Sociopolis there are 6 millionpeople in the

Suppose that in the small country of Sociopolis there are 6 millionpeople in the adult population, that the labor-force participationrate is 70 percent, and that there are 3.8 mil…

Suppose that in year one the only way to open clogged arteries is to do open hea

Suppose that in year one the only way to open clogged arteries is to do open heart coronary artery bypass surgery. In year two, however, coronary angioplasty is invented. This is …

Suppose that income of the average person among the poorest 20% of citizens in N

Suppose that income of the average person among the poorest 20% of citizens in Nsmbis is $2000. What is the average income of a person who is among the riches 20% of citizens in N…

Suppose that initially the Pennsylvania economy is in equilibrium with no unempl

Suppose that initially the Pennsylvania economy is in equilibrium with no unemployment: Ls = -1,000,000 + 200W and Ld  = 19,000,000 - 300W, where W = annual wages and L = number o…

Suppose that initially the money supply is $2 trillion, the price level equals 4

Suppose that initially the money supply is $2 trillion, the price level equals 4, the real GDP is $6 trillion in base-year dollars, and income velocity of money is 12. Thern the m…

Suppose that initially the money supply is $2 trillion, the price level equals 4

Suppose that initially the money supply is $2 trillion, the price level equals 4, the real GDP is $6 trillion in base-year dollars, and income velocity of money is 12. Then the mo…

Suppose that initially the money supply is $2 trillion, the price level equals 4

Suppose that initially the money supply is $2 trillion, the price level equals 4, the real GDP is $6 trillion in base-year dollars, and income velocity of money is 12. Then the mo…

Suppose that initially the money supply is 2 trillion, the price level equals 4,

Suppose that initially the money supply is 2 trillion, the price level equals 4, the real GDP is 6 trillion in base-year dollars, and income velocity of money is 12. Then the mone…

Suppose that initially the price is $20 in a perfectly competitive market. Firms

Suppose that initially the price is $20 in a perfectly competitive market. Firms are making zero economic profits. Then the market demand shrinks permanently, some firms leave the…

Suppose that instead of acting sequentially that the companies make decisions at

Suppose that instead of acting sequentially that the companies make decisions at the same time. We can represent this game in the matrix below. Suppose that the game is only going…

Suppose that instead of competing as a Cournot firm, Firm 1 decides to announce

Suppose that instead of competing as a Cournot firm, Firm 1 decides to announce its production decision before Firm 2 chooses its output. Thus, Firm 1 acts as Stackelberg firm. Us…

Suppose that inverse demand is given by D(Q) = 56 2Q, Q = q1 + q2 and the cost f

Suppose that inverse demand is given by D(Q) = 56 2Q, Q = q1 + q2 and the cost function is TC(qi ) = 20qi + f Find the Stackelberg equilibrium and compare it to the Cournot equili…

Suppose that investment demand increases by $200 billion in a closed and private

Suppose that investment demand increases by $200 billion in a closed and private economy (no government or foreign trade). Assume further that households have a marginl propensity…

Suppose that investment rises and interest rates fall. Which of the following be

Suppose that investment rises and interest rates fall. Which of the following best explains these changes? A.  The government went from surplus to deficit. B.  The government repe…

Suppose that it is well known that many children work in low-skill jobs in poor

Suppose that it is well known that many children work in low-skill jobs in poor country “X.” If rich country “Y” buys goods from poor country “X,” then the increase in demand for …

Suppose that labor is the only input used by a perfectly competitive firm. The f

Suppose that labor is the only input used by a perfectly competitive firm. The firm’s production function is as follows: 1. Complete the third column of the following table by cal…

Suppose that last year one dollar US exchanged for one euro if this year one dol

Suppose that last year one dollar US exchanged for one euro if this year one dollar exchange for $.90 euro we can conclude that: A. the dollar is weaker this year than it was last…

Suppose that legally, people own the right to clean air. That is, it is illegal

Suppose that legally, people own the right to clean air. That is, it is illegal for factories to emit toxic gases into the atmosphere. (Or, in other words, the right to clean air …

Suppose that low-skilled workers employed in clearing woodland can each clear on

Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if they are each equipped with a shovel, a machete, and a chainsaw. Clearing one a…

Suppose that low-skilled workers employed in clearing woodland can each clear on

Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if each is equipped with a shovel, a machete, and a chainsaw. Clearing one acre br…

Suppose that low-skilled workers employed in clearing woodland can each clear on

Suppose that low-skilled workers employed in clearing woodland can each clear one acre per month if they are each equipped with a shovel, a machete, and a chainsaw. Clearing one a…

Suppose that management and labor are bargaining over the distribution of excess

Suppose that management and labor are bargaining over the distribution of excess profits amounting to $200 per worker. Suppose that failure to reach an agreement an agreement redu…

Suppose that many producers guess that there will be deflation, writing their co

Suppose that many producers guess that there will be deflation, writing their contracts accordingly. 12.1.   In the short run (compared to the original long run equilibrium), the …

Suppose that marginal revenue for a perfectly competitive firm is $20 . When the

Suppose that marginal revenue for a perfectly competitive firm is $20 . When the firm produces 10 units, its marginal cost is $20, its average total cost is $22, and its average v…

Suppose that marginal revenue for a perfectly competitive firm is $20 . When the

Suppose that marginal revenue for a perfectly competitive firm is $20 . When the firm produces 10 units, its marginal cost is $20, its average total cost is $22, and its average v…

Suppose that market demand is given by P = 260 - 2Q and that firms again have a

Suppose that market demand is given by P = 260 - 2Q and that firms again have a constant marginal cost of 20, while incurring no fixed cost, but now assume that the firms are Bert…

Suppose that market demand is given by P = 260 - 2Q and that foirms again have a

Suppose that market demand is given by P = 260 - 2Q and that foirms again have a constant marginal cost of 20, while incurring no fixed cost, but now assume that the firms are Ber…

Suppose that members of Congress successfully eliminated the Commerce Department

Suppose that members of Congress successfully eliminated the Commerce Department, and in so doing the federal government no longer collected or distributed economic data (includin…

Suppose that members of Congress successfully eliminated the Commerce Department

Suppose that members of Congress successfully eliminated the Commerce Department, and in so doing the federal government no longer collected or distributed economic data (includin…

Suppose that money demand is flat, as is the case at very low interest rates. a.

Suppose that money demand is flat, as is the case at very low interest rates. a. what does this imply for the slope of the LM curve? b .what does this imply for the slope of the I…

Suppose that more companies receive permission to drill foroil in Alaska and U.S

Suppose that more companies receive permission to drill foroil in Alaska and U.S.-controlled waters. In addition, assume thatthe popularity of SUV's  declines in favor ofsmaller, …