4.) How does elasticity of supply affect the loss of economic surplus caused by a price ceiling? Pri

B. unemployment is above the full employment… Show more Demand-pull inflation occurs when: A. input costs rise. B. unemployment is above the full employment rate of unemployment. C. aggregate supply exceeds aggregate demand. D. aggregate demand increases faster than aggregate supply. • Show less

The increased demand for corn to be used in ethanol is driven in large part by nearly $10 billion in… Show more The increased demand for corn to be used in ethanol is driven in large part by nearly $10 billion in government subsidies. Consider three groups of people: – Consumers (who are also taxpayers) – Commodity farmers (who can plant either corn or wheat) – Cattle ranchers (who buy corn or wheat to feed to livestock) Of these groups, who gains and who loses as a result of these subsidies? A. Farmers gain; consumers and ranchers lose. B. None of these groups gains anything; the only ones to benefit are the ethanol-producing companies. C. Farmers and consumers gain; ranchers lose. D. Farmers and ranchers gain; consumers lose • Show less

In perfect competition, a firm’s accoun… Show more Which of the following is true about perfect competition? A. In perfect competition, a firm’s accounting profit is the same as its economic profit. b. In perfect competition, each firm can set its own prices in the market. c. In a perfectly competitive market, a firm’s long-run economic profit is zero. d. In a perfectly competitive market, each firm faces a downward sloping demand curve. • Show less

You manage a resort and are considering installing one of two different vending machines, Soda or Ca… Show more You manage a resort and are considering installing one of two different vending machines, Soda or Candy. The net cash flow for each machine stays the same for each of the four years that it lasts. Key information about each machine is below. Cash flows and probabilities are matched on top of each other. Soda Purchase price: $10,000 Salvage Value: $0 Expected Net Cash flow in each of the next 4 years: 6000,5000,4000 Probability of Occurrence: .25 .50 .25 Candy Purchase price: $11,000 Salvage Value: $0 Expected Net Cash flow in each of the next 4 years: 7000,5000,4000 Probability of Occurrence:. .25 .50 .25 The current risk free rate is 10%. The lender uses the below table to assign an additional risk premium to loans to the resort. Standard Deviation Risk Premium $0-999 0% 1000-1999 4% 2000-2999 10% 3000-3999 20% Prepare a recommendation as to which machine to install at the resort. Hint- Several things need to be done to make this recommendation. • Show less

and answer the following… Show more Read the paper “The Great Depression, the New Deal and the Current Crisis” and answer the following questions: i. What were the similarities and difference in the economic context that preceded the Great Recession, as compared to the reasons that preceded the Great Depression? • Show less

Should the Trade Adjustment Assistance program be discontinued? Why?

N/A

jessie Romero offered to deliver two trade in vehicles- a 2003 Mitsubishi Montero and a 2002 Chvrole… Show more jessie Romero offered to deliver two trade in vehicles- a 2003 Mitsubishi Montero and a 2002 Chvrolet Silverado pickup- to Scoggin-Dickey Chevrolet Buick, inc,. in exchange for a 2006 Silverado pickup. Scoggin-Dickey agreed. the parties negotiated a price, including a value for the trade-in vehicles, plus cash. Romero paid the cash and took the Silverado. On in specting the trade in vehicles, however,Scoggin-Dickey found that they had little value. The dealer repossessed the 2006 Silverado. did the dealership have the right to inspect the goods and reject them when it did? Why or Why not. • Show less

Virgin Galactic is considering two materials for certain parts in a re-useable space vehicle: carbon… Show more Virgin Galactic is considering two materials for certain parts in a re-useable space vehicle: carbon fiber reinforced plastic (CFRP) and fiber reinforced ceramic (FRC). The costs are shown below. The MARR is 10 % per year CFRP FRC Initial cost, $ -205,000 -235,000 Maintenance cost, $/year -29000 -27000 Salvage value, $ 2000 20000 Estimated life, years 3 4 What is the Least Common Multiple (LCM) of these two estimated life Draw the cash flow diagram for the LCM analysis Select from the two materials using the Least Common Multiple (LCM) Analysis Hints: LCM is a method under Present Worth (PW) for resolving unequal number of years • Show less