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Some observers maintain that the economic goals of the American people are impractical, achievable, and inconsistent. They argue, for example, that economic efficiency and economic justice are frequently in conflict with each other. Explain, with examples to back up your point of view, why you agree or disagree with this statement.
Bank X has Sh. 100M of assets and Sh. 10M of Equity bank. Bank Y has Sh. 100M in assets and Sh. 4Min equity. Calculate the Equity Multiplier of each bank. If the two banks have 1%, return on assets; calculate the return on equity of bank X and Y and comment. (10 Marks)
How did money affect the economy of ancient Greece?
In a closed economy with no govt Consumption function is C=100+0.8Y where Y is income
What happens to income Y if investors become more optimistic snd increase investment by 20?
Looking for an explanation with the answer as to Y moves in the direction it does.
What happens to income Y if investors become more optimistic snd increase investment by 20?
Looking for an explanation with the answer as to Y moves in the direction it does.
Start from the Cobb-Douglas production function where the parameters á and â are constant, 0 < á < 1 and á + â = 1.2. Derive the expression for the growth rate of output per worker in balanced growth equilibrium. Show all your steps. In this case, will the growth rate of output per worker be equal to, less than, or greater than the growth rate of efficiency in balanced growth equilibrium?
Doctors discover more health benefits to vitamin c (found in oranges)? The equilibrium price will (blank) and the equilibrium quantity will (blank) ?
If the demand curve is Q(p) = p^a (where a < 0), what is the elasticity of demand? If the marginal cost is $2, and a = -4, what is the profit-maximising price?
Consider an example of the third degree price discrimination. There are two groups of consumers. Consumers are identical within each group. In group 1, the demand function is P = 6 - 3Q, in group 2, the demand function is P=5-2Q. The marginal cost of production is 1. Find out the optimal price for each group.
Consider an example of the third degree price discrimination. There are two groups of consumers. Consumers are identical within each group. In group 1, the demand function is P = 6 - 3Q, in group 2, the demand function is P=5-2Q. The marginal cost of production is 1. Find out the optimal price for each group.
You operate a car-retailing business with a fixed amount of machinery (capital), but you
have recently changed the number of workers that you employ per hour. As you increased
the number of employees hired per hour from three to five, your total output increased by
five cars to 15 cars per hour. What is the average product of labour at the new levels of
labour?
1. AP = 3 cars per worker
2. AP = 5 cars per worker
3. AP = 4 cars per worker
4. We do not have enough information to answer this question.
have recently changed the number of workers that you employ per hour. As you increased
the number of employees hired per hour from three to five, your total output increased by
five cars to 15 cars per hour. What is the average product of labour at the new levels of
labour?
1. AP = 3 cars per worker
2. AP = 5 cars per worker
3. AP = 4 cars per worker
4. We do not have enough information to answer this question.
Assume that the average product for six workers is 15. If the marginal product of the
seventh worker is 18, then the …
1. marginal product is rising.
2. marginal product is falling.
3. average product is rising.
4. average product is falling.
seventh worker is 18, then the …
1. marginal product is rising.
2. marginal product is falling.
3. average product is rising.
4. average product is falling.
Each point on the long-run average cost curve is a …
1. minimum point on some short-run average cost curve as well.
2. level of average cost that is the lowest possible average cost for that level of output.
3. point on the long-run marginal cost curve as well because the long-run average cost
curve and long-run marginal cost curve are always identical.
4. cost of production based on a particular input price ratio (Other points on the long-run
average cost curve show cost of output with alternative input prices.)
1. minimum point on some short-run average cost curve as well.
2. level of average cost that is the lowest possible average cost for that level of output.
3. point on the long-run marginal cost curve as well because the long-run average cost
curve and long-run marginal cost curve are always identical.
4. cost of production based on a particular input price ratio (Other points on the long-run
average cost curve show cost of output with alternative input prices.)
