Economics Answers

From the annual observations from 2000 to 2014, the following regression results were obtained, where Y = exchange rate of the German mark to the U.S. dollar (GM/$) and X = ratio of the U.S. consumer price index to the German consumer price index; that is, X represents the relative prices in the two countries:

what are the recommendations that the small businesses needs?

1. Acme Widget, Inc. has the following production function:
Number of Workers Number of Widgets Produced
1 8
2 15
3 21
4 26
5 30
6 33
Acme can get $5 for each widget it produces. How many workers will it hire if the
nominal wage is $38? If it is $27? If it is $22?
2. The marginal product of labour for a certain firm is MPN = 50 – N, where N is the
number of labour hours used in production. The price of output is $2 per unit,
a) If the nominal wage is $10/hour, how many hours of labour will be demanded by
the firm?
b) If the nominal wage is increased to $12/hour, how many hours of labour will be
demanded by the firm?
c) What is the wage elasticity of labour demand for this wage change? (Use the
midpoint formula to calculate the arc elasticity.)

Describe some of the problems that might arise from a failure to maintain and update an existing Chart of Accounts.

What is your explanation of the prevailing cost conditions of the chosen firm ( restaurant)?

The mesa Redbirds football team plays in a stadium with seating capacity of 80,000. However, during the past season, attendance averaged only 50,000. The average ticket price was $30. If the price elasticity is -4, what would the team have to charge in order to fill the stadium?If the price were to be decreased to $27 and the average attendance increased to 60,000, what is the price elasticity?

How can a group of workers, each specializing in certain tasks, produce so much more than the same number of workers who try to produce the entire good or service by themselves?

suppose that steak is a normal good.In each case below identify the effect on the demand curve for steak and draw a well labelled diagram to illustrate the effect.
1. An increase in the price of lamb

How a rise in the rate of interest might cause a shift in an economy’s aggregate demand curve? (8 marks)

If The Fed requires a bank to hold 9 percent of their deposits as reserves and the bank has $18,000 of excess reserves, and then sells the Fed a T bill for $9,000. How much does the bank now have to lend out if it decides to hold on to the required reserves?

$27k? $27,190? $26,190, or $9,000?