Question This is an International Economics class and the entire lesson is on exchange rate crisis and peg systems. The critical backing ratio (RC/ M) when a speculative attack occurs depends positively on two factors. Name and explain these two factors and the intuition as to why the critical backing ratio is positivelyrelated to these two factors. […]
Question A suburb of Houston has the following labor supply.demand curves, where W is the hourly wage rate: LS = −50 + 20W LD = 125 − 5W Question A Calculate the equilibrium level of employment: Calculate the equilibrium wage: $ What is the size of the labor force in equilibrium: What is the unemployment rate in equilibrium: % Question B […]
Question Suppose Atlanta is proposing to finance their new NFL stadium using taxes on hotel rooms. The idea is that this will get visitors (who are likely benefiting from the stadium) to pay for the stadium rather than the locals. Assume that demand for hotel rooms is given by: P (Q) = 150 − 5Q where Q is in thousands […]
Question Suppose a consumer’s utility function is given by U(X,Y) = (X^1/2)*(Y^1/2), where the consumer has $32 to spend, Px = $1, and Py = $4. Now, suppose that Px has increased to $4. How much additional money would the consumer need to have the same utility level after the price change as before the […]
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