All Matches

Solution Library

Expert Answer

Textbooks

Search Textbook questions, tutors and Books

Oops, something went wrong!

Change your search query and then try again

Result Not Found

Books FREE
Tutors
Study Help
Hire a Tutor
AI Study Help New

Search
Sign In
Register

study help
business
foundations of economics

Questions and Answers of Foundations Of Economics

Panic in paradise: Are high fares the new reality for Hawaii?On March 31, 2008, Hawaii lost 15 percent of its air service as Aloha Airlines and the cheap-flight airline ATA suddenly shut down.
Does the seller receive a producer surplus? Are auctions on eBay efficient?
What method is used to allocate goods on eBay? How does an eBay auction influence consumer surplus from the good?
Why don’t all restaurants use the market price to allocate their table
Is the allocation efficient? Is the allocation fair?
Who gets to use the candles? Who receives the consumer surplus and who receives the producer surplus on candles?
If the price of a DVD falls to $10, what is the change in producer surplus?
What is the quantity of DVDs sold? Calculate the producer surplus, the total revenue from the DVDs sold, and the cost of producing the DVDs sold.
What is the minimum supply price of the 20th DVD? Calculate the marginal cost of the 10th DVD and the producer surplus on the 10th DVD.
If the price of a DVD rises to $20, what is the change in consumer surplus?
What is the quantity of DVDs bought? Calculate the consumer surplus, the amount spent on DVDs, and the total benefit from the DVDs bought.
What is the willingness to pay for the 20th DVD? Calculate the value of the 10th DVD and the consumer surplus on the 10th DVD.
Which method is used to allocate the following scarce resources?• Campus parking space between student areas and faculty areas• A spot in a restricted student parking area• Textbooks• Host
When heavy rain ruined the banana crop in Central America, the price of bananas rose from $1 a pound to $2 a pound. Banana growers sold fewer bananas, but their total revenue remained unchanged. By
Calculate the world price elasticity of supply of corn.
What is the price elasticity of supply after one year? Has the supply of this good become more elastic or less elastic? Why?
Is the supply of this good elastic, unit elastic, or inelastic? Is this good likely to be produced using factors of production that are easily obtained? What is the price elasticity of supply of this
In the market for jeans, which of the following events increases the demand for a pair of jeans?A. rise in the wage rate paid to garment workers B. rise in the price of a denim skirt (a substitute
Steel output set for historic drop Steel producers expect to cut output by 10 percent in 2009 in response to cancelled orders from construction companies and car and household appliance
“As more people buy computers, the demand for Internet service increases and the price of Internet service decreases. The fall in the price of Internet service decreases the supply of Internet
Alabama food prices jump in May Alabama Farmers Federation announced that food prices in May will increase. In previous unprofitable years, farmers reduced their herds with the result that in 2009
Use graphs to show why the price of corn has risen and show its effect on the price of cereals.
Explain why the dry weather will lead to a rise in the price of bread.
OPEC deadlocked on oil production hike Oil prices breached the $100-a-barrel mark Wednesday after OPEC said it could not reach an agreement about raising crude production.Source: CNN Money, June 8,
If milk becomes more popular and better feeds increase milk production, describe how the equilibrium price and quantity of milk will change.
A drought decreases the quantity supplied by 45 cartons a day at each price.What is the new equilibrium and how does the market adjust to it?
Describe the situation in the milk market if the price were $1.75 a carton and explain how the market reaches equilibrium.
What is the equilibrium price and equilibrium quantity of milk?
Explain the effect of each event on the supply of timber beams.
Does any event (or events) illustrate the law of demand?
Mary makes 10 pies and 20 cakes a day and her opportunity cost of a cake is 2 pies. Tim makes 20 pies and 10 cakes a day and his opportunity cost of a cake is 4 pies. If they specialize in the good
Table 1 shows the PPF of an island community. Choose the best statement.A. When a drought hits the island, its PPF shifts outward.B. When the islanders discover a better way of catching fish, the
Table 1 shows the PPF of an island community. This community’s opportunity cost of producing 1 pound of fish ______.A. is the increase in the quantity of berries gathered as the quantity of fish
Explain how the arrival of inexpensive broadband has changed the PPF.
Sketch a PPF for video entertainment and other goods and services before broadband.
How has inexpensive broadband changed the production possibilities of video entertainment and other goods and services?
What is the opportunity cost of producing an additional unit of entertainment?Explain how the opportunity cost of producing a unit of entertainment changes as more entertainment is produced.
If Tony and Patty specialize and trade, what are the gains from trade?
Who has a comparative advantage in producing snowboards? Who has a comparative advantage in producing skis?
Table 1 shows an economy that produces education services and consumption goods. If the economy currently produces 500 graduates a year and 2,000 units of consumption goods, what is the opportunity
Which points illustrate a tradeoff? Explain why.
Which points are attainable? Explain why.
Which of the entries in List 1 are consumption goods and services and which are government goods? Explain your choice.
Describe the changes in what, how, and for whom telecommunication services the global economy produces.
The global economy has three cell phone users for every fixed line user. Two in every three cell phone users lives in a developing nation and the growth rate is fastest in Africa. In 2000, 1 African
For-profit colleges may face aid cuts The Obama administration proposes a new rule: Federal aid to for-profit colleges will be cut if students in vocational programs graduate with worthless degrees.
Which of the four factors of production earns the highest percentage of total U.S. income? Define that factor of production. What is the income it earns called?
Explain which of the following items are not factors of production:• Vans used by a baker to deliver bread• 1,000 shares of Amazon.com stock• Undiscovered oil in the Arctic Ocean
Explain which of the following items are not capital goods:• An auto assembly line• A shopping mall• A golf ball
Explain which of the following items are not consumption goods and services:• A chocolate bar• A ski lift• A golf ball
Which of the following is a positive statement?A. We should stop using corn to make ethanol because it is raising the cost of food.B. You will get the most out of college life if you play a sport
What are two benefits of the new auto-emission standards?
Provide two examples of economics being used as a tool by each of a student, a business, and a government. Classify your examples as dealing with microeconomic topics and macroeconomic topics.
Provide two examples of monetary and two examples of non-monetary incentives, a carrot and a stick of each, that government policies use to influence behavior.
On Friday June 16, 2011, the headlines in List 1 appeared inThe Wall Street Journal. Classify each headline as a signal that the news article is about a microeconomic topic or a macroeconomic topic.
Think about the following news items and label each as involving a what, how, or for whom question:• Today, most stores use computers to keep their inventory records, whereas 20 years ago most
Because all the tickets were free, was the marginal benefit from the concert zero? Explain your answer.
What do you think Eminem’s incentive is to give a free show? Was his decision made in self-interest or in the social interest? Explain.
Eminem is giving away tickets to his show in a 1,500-seat theater in Detroit.What is free and what is scarce? Explain your answer.
What contribution does a movie like The Social Network make to coping with scarcity? When you buy a ticket to see a movie in a theater, are you buying a good or a service?
Did Kate make her decision on the margin?
What was Kate’s opportunity cost of the third hour of tennis?
10. Compare and contrast the Fed’s monetary policy response to the surge in desired reserves and currency holdings in the Great Depression and the 2008–2009 recession.
9. Suppose that inflation is rising toward 5 percent a year, and the Fed, Congress, and the White House are discussing ways of containing inflation without damaging employment and output. The
8. If the plan to reduce the deficit includes an increase in taxes on the wealthy, explain how this policy might have serious supply-side consequences for both potential GDP and the growth rate of
7. If the plan to reduce the deficit includes a cut in transfer payments and a rise in taxes of the same amount, how will this policy influence the budget deficit and real GDP?
6. Use an aggregate supply–aggregate demand graph to illustrate the effects on real GDP and the price level of a fiscal stimulus when the economy is in recession.Use the following information to
5. Describe the supply-side effects of a fiscal stimulus and explain how a tax cut will influence potential GDP.
4. Suppose that the U.S. government increases its expenditure on highways and bridges by $100 billion. Explain the effect that this expenditure would have on needs-tested spending and the
3. Suppose that the U.S. government increases its expenditure on highways and bridges by $100 billion. Explain the effect that this expenditure would have on aggregate demand and real GDP.
2. In which episode, the Great Depression or the 2008–2009 recession, did the banks’ desired reserve ratio and the currency drain ratio increase by the larger amount and the money multiplier fall
1. From the peak in 1929 to the Great Depression trough in 1933, government tax revenues fell by 1.9 percent of GDP and government expenditure increased by 0.3 percent. Real GDP fell by 25 percent.
10. Read Eye on the Fed in a Crisis on p. 592. What are the key differences in monetary policy between the Great Depression and the slow recovery from the 2008–2009 recession?
9. Read Eye on Fiscal Stimulus on p. 584. How big was the fiscal stimulus package of 2008–2009, how many jobs was it expected to create, and how large was the multiplier implied by that
8. Suppose that a drought decreases potential GDP in Artica to $250 billion.Explain what happens if the central bank lowers the federal funds rate. Do you recommend that the central bank lower the
7. What do you predict will happen if the central bank takes no monetary policy actions? What monetary policy action would you advise the central bank to take and what do you predict will be the
6. What are the price level and real GDP? Does Artica have an unemployment problem or an inflation problem? Why?
5. The Canadian Prime Minister Stephen Harper warned on November 6, 2008, that if policy makers adopt too strong a fiscal stimulus then long-term growth might be jeopardized. Explain what he
Explain the effects of strong fiscal stimulus if it is implemented well.
4. IMF reduces forecast for U.S. growth The IMF expects U.S. economic growth to slow to 2% in 2012 and 2.25% in 2013. That’s down from its earlier estimates of 2.15% in 2012 and 2.4% in 2013.
3. The U.S. economy is in recession and has a large recessionary gap. Describe what automatic fiscal policy might occur. Describe a fiscal stimulus that could be used that would not increase the
A cut in farm subsidies
An increase in Medicaid expenditure brought about by a flu epidemic
Decreased expenditures on national defense during peace time
An increase in unemployment benefits paid during a recession
An increase in expenditure on homeland security
2. Classify the following items as automatic fiscal policy actions, discretionary fiscal policy actions, or neither.
1. Suppose that in an economy, investment is $400 billion, saving is $400 billion, tax revenues are $500 billion, exports are $300 billion, and imports are$200 billion. Calculate government
3. Explain how the Fed’s actions change aggregate demand and real GDP. Use a graph to illustrate your answer.
2. What action does the Fed take? Explain the effects of the Fed’s actions in the money market and the market for loans.
1. List the sequence of events in the transmission process from a rise in the federal funds rate to a change in the inflation rate.The economy has slipped into recession and the Fed takes actions to
2 Describe the Federal Reserve’s monetary policy process and explain the effects of monetary policy.
1 Describe the federal budget process and explain the effects of fiscal policy.
What type of inflation is created?
How does immigration lead to inflationary pressure?
How does immigration influence New Zealand’s aggregate demand?
How does immigration influence New Zealand’s aggregate supply and potential GDP?
How do Singapore’s real GDP and price level change as a result of these two events?
What is the effect of the economic recovery of other Southeast Asian countries on Singapore’s economy?
What is the effect of Singapore’s foreign-worker restrictions on aggregate supply and potential GDP?

Showing 1300 - 1400 of 5192

First
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Last

Services

Sitemap
Fun
Definitions
Become Tutor
Study Help Categories
Recent Questions
Expert Questions

Company Info

Security
Copyrights
Privacy Policy
Terms & Conditions
SolutionInn Fee
Scholarship

Get In Touch

About Us
Contact Us
Career
Jobs
FAQ
Campus Ambassador

Secure Payment

Download Our App

© 2024 SolutionInn. All Rights Reserved