Category: business economics

Order the answer to: The accompanying table presents data from the U.S. Census Bureau

business economics

Order the answer to: The accompanying table presents data from the U.S. Census Bureau

Posted By George smith

Question
a. By what percentage has median income changed over this period? By what percentage has mean income changed over this period?
b. Between 1972 and 2009, has the income become less or more unequal? Explain.

Subject
business

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Order the answer to: In the city of Metropolis, there are 100 residents, each

business economics

Order the answer to: In the city of Metropolis, there are 100 residents, each

Posted By George smith

Question
In the city of Metropolis, there are 100 residents, each of whom lives until age 75. Residents of Metropolis have the following incomes over their lifetime: Through age 14, they earn nothing. From age 15 until age 29, they earn 200 metros

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Order the answer to: The accompanying table contains data on the U.S. economy for

business economics

Order the answer to: The accompanying table contains data on the U.S. economy for

Posted By George smith

Question
a. By what factor has the poverty threshold increased from 1983 to 2010? That is, has it doubled, tripled, and so on?
b. By what factor has the CPI (a measure of the overall price level) increased from 1983 to 2010?

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Order the answer to: Prior to 2003, the city of London was often one

business economics

Order the answer to: Prior to 2003, the city of London was often one

Posted By George smith

Question
Prior to 2003, the city of London was often one big parking lot. Traffic jams were common, and it could take hours to travel a couple of miles. Each additional commuter contributed to the congestion, which can be measured by the total

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Order the answer to: The village of Upper Bigglesworth has a village commons, a

business economics

Order the answer to: The village of Upper Bigglesworth has a village commons, a

Posted By George smith

Question
The village of Upper Bigglesworth has a village “commons,” a piece of land on which each villager, by law, is free to graze his or her cows. Use of the commons is measured in units of the number of cows grazing on

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Order the answer to: Your economics professor assigns a group project for the course.

business economics

Order the answer to: Your economics professor assigns a group project for the course.

Posted By George smith

Question
Your economics professor assigns a group project for the course. Describe the freerider problem that can lead to a suboptimal outcome for your group. To combat this problem, the instructor asks you to evaluate the contribution of your peers in a confidential

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Order the answer to: Anyone with a radio receiver can listen to public radio,

business economics

Order the answer to: Anyone with a radio receiver can listen to public radio,

Posted By George smith

Question
Anyone with a radio receiver can listen to public radio, which is funded largely by donations.
a. Is public radio excludable or nonexcludable? Is it rival in consumption or nonrival? What type of good is it?
b. Should the government

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Order the answer to: The accompanying table shows Tanisha’s and Ari’s individual marginal benefit

business economics

Order the answer to: The accompanying table shows Tanisha’s and Ari’s individual marginal benefit

Posted By George smith

Question
a. If Tanisha had to pay for street cleaning on her own, how many street cleanings would there be?
b. Calculate the marginal social benefit of street cleaning. What is the optimal number of street cleanings?
c. Consider the optimal

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Order the answer to: A residential community has 100 residents who are concerned about

business economics

Order the answer to: A residential community has 100 residents who are concerned about

Posted By George smith

Question
a. Explain why the security service is a public good for the residents of the community.
b. Calculate the marginal cost, the individual marginal benefit for each resident, and the marginal social benefit.
c. If an individual resident were to

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Order the answer to: In many planned communities, various aspects of community living are

business economics

Order the answer to: In many planned communities, various aspects of community living are

Posted By George smith

Question
In many planned communities, various aspects of community living are subject to regulation by a homeowners’ association. These rules can regulate house architecture; require snow removal from sidewalks; exclude outdoor equipment, such as backyard swimming pools; require appropriate conduct in shared spaces

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