I need your HELP answering this questions: 1. I need a brief history of the beef (cattle) Industry in the US 2. I need an overview (how the beef Industry stands now and how the beef Industry is doing now) 3. I need a SWOTT (Strengths, Weaknesses, Opportunities, Threats and Trends) analysis of the beef Industry 4 Is
I need your HELP answering these questions: 1. Explain how the circular flow diagram illustrates the interaction of households, governments, and business? 2. Illustrate market equilibrium using supply and demand curves? 3. Differentiate between movement along and shift of the demand curve? 4.Explain the relationship
What would happen to the price of a pair of jeans if the following happened? Belts for jeans went up? Many styles of jeans are introduced? A new sewing machine is invented and will reduce production costs? The age of jean buyers increases and they do not like your style of jeans? Unemployment decreases?
Explain and discuss why the characteristics of the labor markets should result in the same wage rate for all jobs requiring the same level of abilities and skills? Why are earnings on the labor market are not always proportional to abilities? Demand for good workers = high pay demand for low workers = low pay Not proporti
Why are there significant disparities in the cost of living throughout the US? Unfortunately, I am somewhat lost on this one. I cannot think of one definitive answer to this question. I would think the lack of industry would play an important part in regional differences. Poor education such as that in Louisianna would be a m
Firm A is the dominant firm in a market where industry demand is given by Qd = 48-4P. There are four "follower" firms, each with long-run marginal cost given by MC= 6 + Qf. Firm A's long run marginal cost is 6. a. Write the expression for the total supply curve of the followers (qs) as this depends on price. (Remember, e
Rice is traded in a competitive world market. At the world price of $0.10 per pound, unlimited amounts of rice can be imported into Japan for purchase in the Japanese rice market. (e.g. There is an infinite supply of rice at the world price of $0.10 per pound.) The domestic demand and supply of rice in Japan is given by: (
My question is : 1)Why are prices generally higher for goods/services in London as opposed to Newcastle, or New York as opposed to San Fran? I understand that inflation is caused by excess demand/liquidity which causes the price of inputs such as raw materials to rise. But is the answer to the above question attributable t
I have 3 short Micro problems that I need some help with. Please provide detailed explanations.
Problems: For each of the following problems, provide a mathematical solution, well-labeled diagrams, and written explanations 1) Suppose the demand and supply curves for broccoli in the U.S. market are given by: Qd = 1000 - 5P Qs = 4P - 80 Quantities are in hundreds of bushels per year and price is in dollars per hund
1. What is the "real" exchange rate, and why are changes in it more important than changes in the nominal exchange rate. 2. Does the "real exchange rate" have meaning only for a country, or does it have meaning for a company, as well? Explain. 3. Suppose England's real exchange rate relative to the United States was 1.32
Need good reliable help to answer this question 4) Suppose the government proposes to cut taxes while maintaining the current level of government expenditures. To finance this deficit, it may either a) sell bonds to the public, or, b) print new money (via Federal reserve cooperation). -What are the likely eff
From The Wall Street Journal, Thursday, December 2, 2004: "Janet Yellen, president of the Federal Reserve Bank of San Francisco, said in a speech yesterday at Arizona State University that sustained high oil prices, business caution, the growing trade deficit, consumers' need to rebuild savings and the waning boost from tax cu
Problem 1 The government is attempting to support the alfalfa market price. The market for alfalfa is described in the following figure: graph in attachment (a) If the government purchases enough alfalfa to raise the price from $50/ton to $75/ton, what is the government cost? What is the gain/loss in surplus to the produ
Make the argument, pro's and con's, for returning to the gold standard. List the positive and negative effects of reversing the current policy. E.g., How might this affect international trade? Our trade balance? Our currencies value vis a vis other currencies? Why did the US abandon the standard in the first place? Full
Question #4 (a)Why was the AS/AD model developed, and what limitations of the S/D model did it overcome? (b) List a real world example that is not in the text that supports your response. Fully discuss the theory underlying each model, and why the AS/AD model is the preferred way to measure the economy, or is it?
Practice Problems Fall, 2004 State whether each of the following remarks is true, false or uncertain, and then give a brief (but good!) explanation as to why. Each remark is "worth" 12 points; 4 for "T, F or U", 8 for your explanation. 1. True, False or Uncertain: Sales and excise taxes are usually more harmfu
Problem: The technology of a firm making high end, solid gold bracelets in Soho (NYC) is described by the production function: q = 6.0 L3/4K1/5 where q is the number of bracelets produced per year, L is the number of metallurgist employed by this firm and K is the number of capital units used, measured in square foo
You have been appointed economic advisor to Examland. The mpc is 0.6; investment is $1000; government spending is $8000; consumption is $10000; and next exports are $1000. a. What is the level of income in the country? b. Net export increases by $2000. What will happen to income? c. What will happen to unemployment? (Remember
Please see the attached file for full problem description. TABLE 11.3 DOLLARS OF ADDITIONAL SALES NEEDED TO EQUAL $1 SAVED THROUGH THE SUPPLY CHAIN PERCENT OF SALES SPENT IN THE SUPPLY CHAIN PRESENT NET PROFIT OF FIRM 30% 40% 50% 60% 70% 80% 90% 2 $2.78 $3.23 $3.85 $4.76 $6.25 $9.09 $16.67 4 $
1. Explain how the Bank of Canada can influence interest rates and the money supply in Canada. Be specific about the tools that are available to the Bank for such purposes. Explain how these tools would be used for expansionary policy. Question also in attachment.
5 problems for microeconomics - attached - one problem per page
1.1Smokers: Old and New Explain in terms of elasticities, why placing a tax on cigarettes might reduce teenage smoking while simultaneously raising revenues from older smokers with a more-than-a-pack-a-day habit. 1.3 "Part Forces Hawaiian to Cancel 18 Flights" ) The Honolulu Advertiser Monday, February 14, 2000 Karen
Is price a tool for changing surplus situations?
In a short-run situation in which quantity demanded equals quantity supplied in a competitive industry, with price greater than the average cost of the typical firm, A) total profits across the market are negative and some firms will be forced to leave. B) The profit of the typical firm must nonetheless be zero so that fi
Suppose the government imposes a minimum wage of $5. What is the total wage paid to labor in the figure? See attached file for full problem description.
The government levies an excise tax of 5 cents per unit sold on the sellers in a competitive industry. Both supply and demand curves have some elasticity with respect to price. This tax means that the: A) supply curve shifts to the left by 5 cents, but (unless demand is perfectly elastic) price will not rise. B) supply c
29. A shortage of OPEC oil raises oil prices because of: A) the law of elastic supply. B) the law of elastic demand. C) the downward-sloping demand curve. D) all of the above. E) none of the above.
Category: Economics > Microeconomics Subject: Long Run Details: In the economic theory of the firm, we generally discuss only two factors, labor and capital, and in the short run labor is the variable factor and capital is the fixed factor of production. The long run is a period of time that is long enough for all factors of
Explain why the Fed must normally add reserves to the banking system via open market operations on most days in order to maintain its interest rate target in the Fed Funds market.