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An economy comprises two consumers, 1 and 2, with two consumption goods bi-cycles (b) and wheat (w). Both consumers have the same utility function (b, w) = bw. Bi-cycles and wheat are produced by two firms which use only labour according to the production functions.
b=√1b and w= 0.5√1w
Both firms are owned by consumer 1, and consumer 2 owns 200 units of labour.
(a)Find the production possibility frontier for this economy.
(b)Find the competitive equilibrium.
(c)Find competitive equilibrium if every consumer owns 100 units of labour and owns one firm.
b=√1b and w= 0.5√1w
Both firms are owned by consumer 1, and consumer 2 owns 200 units of labour.
(a)Find the production possibility frontier for this economy.
(b)Find the competitive equilibrium.
(c)Find competitive equilibrium if every consumer owns 100 units of labour and owns one firm.
Economics
How do northe korea's changes in policy reflect the role of government in the nations economy
suppose ha he money demand function is (M/P)d =1000-100r, where r is he interest rate in percent. the money supply M is 1000 and the price level P is N$2.
a) graph the supply and demand for real money balances.
b)what is the equilibrium interest rate?
c) assume that the price level is fixed. what happens to the equilibrium interest rate if the supply of money is raised by 39%?
d) if the Fed wishes to raise the interest rate to 7%, what money supply should it set?
a) graph the supply and demand for real money balances.
b)what is the equilibrium interest rate?
c) assume that the price level is fixed. what happens to the equilibrium interest rate if the supply of money is raised by 39%?
d) if the Fed wishes to raise the interest rate to 7%, what money supply should it set?
You find yourself in a lonely desert. The only 2 things you can produce are either dates or water. In a day you can either gather 100 dates or collect 50 liters of water. And you choose to spend 4 days a week gathering dates and 3 days a week collecting water.
Now imagine in the neighbor oasis is Mohammed and he can produce in a day either 150 dates or 60 liters of water. And he chooses to spend 4 days a week gathering dates and 3 days a week collecting water.
Who has an absolute advantage in dates and water production and who has a comparative advantage in dates and water production?
How many dates and liters of water are you and Mohammed producing per week before trade?
How many dates and liters of water are you and Mohammed producing after you decided to trade with each other?
Think of an exchange that would make both parties better off than before they decided to trade with each other.
Now imagine in the neighbor oasis is Mohammed and he can produce in a day either 150 dates or 60 liters of water. And he chooses to spend 4 days a week gathering dates and 3 days a week collecting water.
Who has an absolute advantage in dates and water production and who has a comparative advantage in dates and water production?
How many dates and liters of water are you and Mohammed producing per week before trade?
How many dates and liters of water are you and Mohammed producing after you decided to trade with each other?
Think of an exchange that would make both parties better off than before they decided to trade with each other.
Economics
According to economic theory, under what circumstances should a government intervene in
issues of climate change?
issues of climate change?
1. Use the cash budget to prepare a graph of quarterly revenue received, payments made and closing cash position.
2. Explain the graph by answering:
Which month has the highest payments, what causes this?
What advice would you give about the purchase of capital items?
Approximately what effect would not purchasing the capital items have?
Which month has the highest revenue received?
Describe the position of closing cash throughout the year. The owner realises that there will be significant expenses in this first year of operations. Identify in which quarter the milestone of revenues exceeding expenditures occurs. What effect does this have on cash?
What advice would you give about the paying of a $1000 bonus to the junior staff in June promised in the September quarter based on the staffs performance and the financial performance of the business for the year?
2. Explain the graph by answering:
Which month has the highest payments, what causes this?
What advice would you give about the purchase of capital items?
Approximately what effect would not purchasing the capital items have?
Which month has the highest revenue received?
Describe the position of closing cash throughout the year. The owner realises that there will be significant expenses in this first year of operations. Identify in which quarter the milestone of revenues exceeding expenditures occurs. What effect does this have on cash?
What advice would you give about the paying of a $1000 bonus to the junior staff in June promised in the September quarter based on the staffs performance and the financial performance of the business for the year?
Depreciation is $700 per quarter and tax payable at 30% of net profit per quarter. Wages for the senior staff are $8,000 per quarter and junior $5,000 who receive a $1,000 bonus in June depending on the performance of the junior staff and the financial performance of the business.
Complete the expense budget, budgeted statement of financial performance: you will need to add the non GST items to the expense budget, and the cash flow budget which has an opening cash balance of $42,000. The opening GST liability is $2,000 and the opening PAYG tax instalment is $2,500.
Complete the expense budget, budgeted statement of financial performance: you will need to add the non GST items to the expense budget, and the cash flow budget which has an opening cash balance of $42,000. The opening GST liability is $2,000 and the opening PAYG tax instalment is $2,500.
According to economic theory, under what circumstances should a government intervene in issues of climate change? (10 marks)
Climate change results from particular human activities in every country across the world. To what extent can government intervention in any individual country such as Singapore be effective in combating it? (5 marks)
What different public policy solutions are available to an individual government such as Singapore’s to combat climate change? What are the pros and cons of each? (10 marks)
Provide examples of what each of us as private individuals can do to combat climate change in the absence of government regulatio
Climate change results from particular human activities in every country across the world. To what extent can government intervention in any individual country such as Singapore be effective in combating it? (5 marks)
What different public policy solutions are available to an individual government such as Singapore’s to combat climate change? What are the pros and cons of each? (10 marks)
Provide examples of what each of us as private individuals can do to combat climate change in the absence of government regulatio
The six month and one-year rates are 3% and 4% per annum with semi-annual compounding. Is 3.90% or 3.95% or 3.99% closest to the one-year par yield expressed with semi-annual compounding?
What different public policy solutions are available to an individual government such as
Singapore’s to combat climate change? What are the pros and cons of each?
Singapore’s to combat climate change? What are the pros and cons of each?
