Macroeconomics Answers

explain why?

#1 State whether each of the following will increase, decrease, or leave unchanged GDP. Also

a. A large number of women that used to household work now become employed outside

the home.

b. An increase in the crime rate

C.

An increase in taxes induces more people to hide or shield money from taxes in offshore

accounts or other schemes.

Suppose the government sets a price floor for student books that is above the

competitive equilibrium price. Draw a graph to illustrate the welfare impacts of this policy.

According to the New York Times article, the Venezuelan government "imposes strict

price controls that are intended to make a range of foods and other goods more

affordable for the poor. They are often the very products that are the hardest to find"

Draw a graph to illustrate the welfare impacts of this policy and why the statement is true.

Discuss the properties of isoquant curves.

Discuss why operating in Stage III of the production process is an irrational decision.

Discuss how the law of diminishing marginal productivity works.

Explain why all inputs become variable in the long run.

Cite a real-life example of how a production process takes place.

Find the maximum and minimum values of the following functions

a) 3X^4 - X^3 +2

b) x^4 – 14x^2 +24x +9

Find the maximum and minimum values of the following functions

    a)        3X^4 - X^3 +2 

    b)       x^4 – 14x^2 +24x +9