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Homework Help for Economics (page 2863)

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Economics
Use the table below to answer the following question. Table 4 Quantity Demanded Price Income Year (units) (dollars) (dollars) -10000 2007 25,000 14,000 10000 2008 15,000 3 4,000 19 2009 5,000 6,000 2000 5000 38) Consider the information in Table 4. Select the best statement. A) The income elasticity of demand is 3.33. B) The income elasticity of demand is -3.33. C) The income elasticity of demand is -2.5. D) The income elasticity of demand is 2.5. E) We cannot calculate the income elasticity of demand because both income and price are changing at the same time.
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6 Aug 2018
Economics
9. (Figure: The Demand and Supply of Wheat) Look at the figure The Demand and Supply of Wheat. A temporary price of $4 in this market would result in: A) a surplus of 4,000 bushels. B) a shortage of 2,000 bushels. C) a shortage of 4,000 bushels. D) a surplus of 2,000 bushels.
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6 Aug 2018
Economics

List your SWOT analysis findings, starting with S, then W, then O, then T. Support each finding.

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8 Aug 2018
Economics

The Jones Corporation's executive vice president circulates a memo to the firm's top management in which he argues for a reductin in the price of the firm's product. He says such a price cut will increase the firm's sales and profits. a. The firm's marketing manager responds with amemo pointing out that the price elasticity of demand for the firm's product is about -0.5. Why is this fact relevant? b. The firm's president concurs with the opinion o fthe executive vice president. Is she correct? c.What is the definition of price elasticity of demand? If it is -0.5, what does this really mean, in terms price and quantity sold? d.What happens if the company reduces its price by 1%? Will the quantity sold increase or decrease? By how much?

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8 Aug 2018
Economics

Social and Cultural Capital When trying to comprehend the persistence of racial and ethnic inequality, social scientists find it useful to think in terms of social and cultural capital. French sociologist Pierre Bourdieu popularized the terms social and cultural capital to refer to assets that are not necessarily economic but have an impact on economic capital for one’s family and future. Less cultural and social capital are passed on through generations which can make it difficult to overcome deficits. Racial and ethnic minorities reproduce disadvantage while Whites are more likely to reproduce privilege. Please read pages 245-247 in your text and view the videos provided in the assignment. In your essay this week, respond to the following: Define cultural and social capital and provide examples. Describe why White Americans are less likely to be concerned with social and cultural capital. How important do you find social and cultural capital to your family and future?

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6 Aug 2018
Economics

How does the existence of the lender of last resort create moral hazard? Explain

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6 Aug 2018
Economics
12. [6 points) You have 9 coins in your pocket: 4 pennies, 3 nickels, and 2 quarters. You reach in and pull out three coins at random. What is the probability that you get more than one denomination of coin?
Answered
7 Aug 2018
Economics
6) If A and B are substitutes in production and the price of A falls, the supply of B A) decreases and the price of B falls. B) does not change. C) decreases and the price of Brises. D) increases and the price of B falls. E) increases and the price of B rises.
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6 Aug 2018
Economics

how does the theory of comparative advantage relate to production possibility curve

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7 Aug 2018
Economics
53) A decrease in the number of firms in the industry would lead to A) an increase in total spending on the good. B) an increase in the equilibrium quantity sold. C) an uncertain effect on total spending on the good. D) an uncertain effect on the equilibrium quantity sold. E) a decrease in total spending on the good.
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6 Aug 2018
Economics
2. If the total revenue of clothing manufacturers decreases when the price of clothing falls, the elasticity of demand is a. greater than one (demand is elastic). b. less than one (demand is inclastic). c unity (demand is unit elastic). d. not determinable from the information given. e exactly zero.
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6 Aug 2018
Economics

Evaluate the following statements are true, false or uncertain

a) A cost-effecitve policy is always socially efficient

b) Enforcement costs are critical to the success of enviornmental program and should be included in the overall social costs of the program when evaluating different policy options

c) The Coase theorem states that social efficiency can be obtained through bargaining and that the gain to each party involved will be identical regardkess of who has the rights

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6 Aug 2018
Economics

5. Suppose the U.S. Congress passes a budget which increases individual income

taxes by $120 billion and increases infrastructure spending (airports, roads,

bridges, etc.) by $50 billion. The increase in income taxes is concentrated at the top,

so the tax increase causes personal consumption expenditures to fall by only $30

billion. Use this information to answer the questions below. (20 pts)

a. At constant interest rates (“other things equal”), what would these policy

changes do to national saving and domestic investment spending?

Change in S =

Change in I =

b. Closed economy analysis: Assuming the U.S. financial system is closed to

international financial flows, draw an S/I diagram to illustrate the effect of

these policy changes on (1) U.S. interest rates and (2) the quantity of domestic

investment spending. Incorporate your numerical answers from part (a) into

your diagram.

c. Open economy analysis: Now assume that the U.S. financial system is open

and that the U.S. is small enough in the global financial system that you can

ignore the effect of these policy changes on global interest rates. Draw an S/I

diagram to illustrate the effect of the policy changes on (1) U.S. net capital

flows and (2) domestic investment spending. When drawing your diagram,

assume that the U.S. would have had net capital inflow without the policy

changes.

Answered
6 Aug 2018
Economics

When should stimulus programs be applied?

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6 Aug 2018
Economics
45) George and Janet decide to combine forces and produce as much as they can together. If they decide to gather 5 coconuts in total, then at most they can catch: A) O fish B) 1 fish C) 2 fish D) 3 fish E) 4 fish
Answered
7 Aug 2018
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