Econ 100A–Midterm 2 solutions. Thursday‚ March 22‚ 2012. True/False (2 questions‚ 10 points total) Answer true or false and explain your answer. Your answer must fit in the space provided. T/F 1. (5 points) Suppose the government wants to place a tax on one of two goods‚ and suppose that supply is perfectly elastic for both goods. If the government wants to minimize the deadweight loss from a tax of a given size‚ it should put the tax on whichever good has worse substitutes. False: If
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Sherisse’ Woodley C. Williams Macroeconomics 23 July 2013 Homework Set 10 1. List the four categories of unemployment. * Fictional * Structural * Cyclical * Seasonal 2. What measurement tool constructed by the Bureau of Labor Statistics is used to measure changes in the level of prices of goods and services? Consumer Price Index (CPI) 3. Who would benefit from unanticipated inflation –lenders or borrowers? Why? Who would benefits from anticipated inflation –lenders
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Econ 110 (L3) Midterm Exam Spring‚ 2007 Part I: Multiple Choice Questions – 50% Part II: Essay Questions – 50% Question 1 (15%) a) A professor would prefer to have all students attending lectures and have all question answered in class‚ than to give extra office hours to answer those questions raised by individual students. Explain his rationale based on economic theory you have learned. MC of lecturing an extra student is almost 0 during usual lecture hours but would be much higher
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Sierra Van Meter #003978571 Econ 410 June 4‚ 2014 Written Report So you might ask yourself‚ what exactly is a recession? According to the Bureau of Labor Statistics‚ characteristics of a recession include: a general slowdown in economic activity‚ a downturn in the business cycle‚ as well as a reduction in the amount of goods and services produced and sold. The official arbiter of U.S. recessions‚ the National Bureau of Economic Research‚ states that there has been a total of ten recessions between
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Week two’s objective discussed about interesting topics that have challenge each members in different ways. The objective of week two’s topics discusses the connection between the amount of inputs and the law of diminishing marginal productivity. Moreover‚ it consists of production and cost analysis. Each individual are required to analyze the relationship between productivity and the cost of production. Furthermore‚ the objective analyzed the effect of changes in the supply of and demand for factors
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Econ 101: Micro Economics 09-‐16-‐10 Chapter 2: The Economic Problem The production possibility Frontier -‐ The boundary between those combinations of goods and services that can be produced and those that cannot -‐ Shows the trade-‐off between more of one good in terms of the other o PPF looks
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Hung Truong Professor Tayman Econ 125‚ research paper As a foreigner coming to the United States to pursue education‚ I found the idea of Social Security System very fascinating. The US government gives its citizens a mean to guarantee their retirement. Indeed‚ empirical evidences suggest that Social Security is one of America’s most successful programs. It has helped millions of Americans avoid poverty after retirement. Just like any system/machine working constantly for a long period‚ the Social
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Unit 2 Assignment Melissa Langhoff Bu204_02 Unit 2 Assignment 1. Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade between individuals or countries? Is it absolute advantage or comparative advantage? Why? Absolute advantage is the ability to produce more than one product efficiently and at the lowest cost. Comparative advantage is the ability to specialize in producing one product at the lowest cost. Comparative advantage
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both implicit + explicit costs + can therefore be used to determine economic profits or losses. 4 Step Process: 1. Determine the profit maximizing level of output (where MR=MC). 2. Calculate total revenue = Price x Quantity 3. Calculate total cost = ATC x Quantity (ATC is always U Shaped) 4. Compare TR + TC If TR > TC then Econ. Profits If TC > TR then Econ. Losses If TR = TC then Zero Econ. Profits 5. Models on next page. Section 12.4:
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Macroeconomics assignment Danish Behal Right now we are witnessing a struggle between two camps that can be named the “stimulators” and the “austereians.” Both warn that a worldwide depression will occur if governments now make the wrong choices: the stimulators say the danger lies in spending too little and the austereians oppose on spending too much. Each side also has their own economic aspect austerity refers to reduced spending and increased saving in the financial sector by governments
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