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How do you think this rise affected GDP?
Now imagine a measure of well-being that includes time spent working in the home and taking leisure. How would the change in this measure of well-being compare to the change in GDP?
Can you think of other aspects of well-being that are associated with the rise in women’s labor-force participation? Would it be practical to construct a measure of well-being that includes these aspects?
Is the real interest rate on this loan higher or lower than expected?
Does the lender gain or lose from this unexpectedly high inflation? Does the borrower gain or lose?
Inflation during the 1970s was much higher than most people had expected when the decade began. How did this affect homeowners who obtained fixed-rate mortgages during the 1960s? How did it affect the banks that lent the money?
b) What is his marginal rate of substitution between X =3 and Y=4? If A=1, a = 0.4 and b = 0.5.
a) Let a doctor earns $20 per hour, a plumber $ 5 per hour, and a professor $ 10 per hour. Everything else the same, which one will devote more hours to negotiating the price of a new car? Explain
b) What is the full cost (direct cost +opportunity) of pursuing BBA from IMSciences? Impose appropriate assumptions if exact value(s) of item(s) is/are not available.
Using a demand and supply diagram, analyse the effect of removing an indirect rax at the market for a product.
A local swimming pool charges nonmembers $10 per visit. If you join the pool, you can swim for $5 per visit but you have to pay an annual fee of F. Use an optimal choice model to find the value of F such that you are indifferent between joining and not joining. Suppose that the pool charged you exactly that F. Would you go to the pool more or fewer times than if you did not join? For simplicity, assume that the price of all other goods is $1.
