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Question 1: Evaluating the Statement on Dominant Strategies1.Evaluate this statement: “If a player has only two available strategies, if one strategy is a dominant strategy then the other strategy MUST be dominated.” 2.Evaluate this statement: “If a player has more than two available strategies, if one strategy is a dominant strategy then it is not necessarily true that there exists a dominated strategy.” ...
Question 11.Suppose you live in downtown Pavement City and you would enjoy walking, having picnics, playing basketball, and basically chilling-out in a local city park, if one were available. Suppose your annual marginal benefit from having access to such a park is: MB = 20 - (1/20000)X, where X is the size of the park in square feet. The City estimates that the marginal cost of building and maintaining such a park would be...
Task: A high unemployment rate in any economy is a symptom of dysfunctionality in the economy. People need income to consume, and consumption leads to production, and production leads to higher demand for labor (employment), so unemployment is a crucial macroeconomic issue that confronts all modern economies. A lower unemployment rate, however, is not the end of the problem. The type of employment and the price of labor (wages) have to be suff...
Methodology This module provides an introduction to macroeconomics. It examines the broad landscape of global economy; interest rates and stock prices; the balance of payments problem; the changing structure of the money and capital markets; the issue of inflation and deflation; labour markets and unemployment; governmental regulation and deregulation. The approach of the module is economics-driven, but not overly technical. It w...
Submission detailsSubmission detailsFor this assignment, you are required to submit:• a presentation (with commentary notes) as a PowerPoint (or similar) file.Please refer to the assignment guidance in the assignment area of the module for further guidance on the file types accepted by Turnitin.Demonstrate knowledge and critical understanding of building economics including development appraisal, financing, cost factors and ways in which ...
Demand and Supply Model IQuestion Set #1 (Demand and Supply Model I) a)Explain in your own words the concepts of the Law of Demand and Law of Supply. Include separate diagrams for each law and provide examples from your own life that follow these laws. The theory defines what effect the relationship between the availability of a product and the desire/demand for that product has on its price, therefore when there is low supply and hi...
Part A – Identify and State the Historical Significant Status Indian Seven years war Quebec act Upper and Lower Canada rebellions BNA act Trench warfare Lucy Maude Montgomery Suffragettes Emily Carr Prohibition Persons case Make work project Japanese internment NATO Viola Desmond Lester Pearson FLQ crisis Draft dodger Official multiculturalism Sovereignty Association Oka crisis 9/11 Subprime mortgages MMIW ...
Dave and Diane's Production Possibility Frontier1.Dave and Diane are married. Their individual production possibility frontiers (PPF) are as in the following picture: i) How many dollars’ worth of Home Goods (H) should Dave give up in order to produce an extra dollar’s worth of Market Goods (M)? Explain. ii) How many dollars’ worth of H should Diane give up in order to produce an extra dollar’s worth of M? Explain. ...
DataChoose a topic and hypothesis of your choice, find an appropriate dataset, estimate a regression model, and present your model and results in a short essay. Interpret your model in light of the assumptions you are making when estimating regression models. You can choose any topic or dataset that might interest you. If you need some inspiration, https://ourworldindata.org/ has fascinating long-run datasets, there is also a list of many datase...
The Relationship between Education, Labor Force, and Income1. The amount of education the typical person receives varies substantially among countries. Suppose you were to compare a country with a highly educated labor force and a country with a less educated labor force. Assume that education affects only the level of the efficiency of labor. Also assume that the countries are otherwise the same: they have the same saving rate, the same depre...
Question 1I. Multiple Choice 1. The model of S&D predicts that in equilibrium, making it legal to buy and sell concealed weapons would A. increase price and decrease quantity purchased. B. increase quantity purchased and have an indeterminate effect on price. C. increase quantity purchased and increase price. D. increase price and have an indeterminate effect on quantity purchased. 2. If a person buys 8 packs of cigarettes per ...
Household Budget Constraints and Equilibrium Consumption1. An Uncertainty-Shock-Induced Liquidity Trap Consider a two-period sticky-price economy populated by identical households with preferences defined over consumption in period 1, C1 and consumption in period 2, C2, and described by the utility function ln C1 + βE1 ln C2, where C1 denotes consumption in period 1, C2 denotes consumption in period 2, β = 1/1.1 is a preference par...
Exchange Rate SystemsIn this Assignment, you will compare and contrast the various forms of the Exchange Rate Regimes and their impacts on an economy. You will also discuss the effects of international trade on the U.S. real GDP by evaluating scenarios that will examine the impacts of net exports on the U.S. economy and the components of the GDP. In this Assignment, you will be assessed on the following outcome: Evaluate the effects of globa...
Assignment DescriptionMarket demand represents the sum of the individual demand for a commodity (a good or a service) from buyers in the market. If there are more buyers who are willing and able to pay for a commodity, then market demand at each price level will rise. On the other hand, market supply represents the total quantity of a commodity that producers are willing and able to provide to the buyers at a given price level. Market equilibr...
Part One 1) Jonathan is currently working for a clothing company and earning $20,000 per year. In hopes of raising his future income he is considering quitting his job and returning to school to get his degree. He estimates that tuition and textbooks would cost $4,000/year while all other living expenses would be $8,000/year. Jonathan thus calculates his costs for the first year of college to be $12,000. Was he correct...
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