Refer to Figure 4-1. What is the total amount that Kendra is willing to pay for 1 ice cream cone?
A) $0.50 B) $3.50 C) $9.00 D) $13.50
B
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Refer to the scenario above. What is the sum of the present values of the returns from this investment?
A) $12,887.64 B) $14,634.90 C) $19,524.69 D) $29,524.19
Refer to Figure 2-6. If the economy is currently producing at point A, what is the opportunity cost of moving to point B?
A) 6 thousand hammers B) 30 thousand wrenches C) 23 thousand hammers D) 8 thousand wrenches
This question has you determine the effect of a tax on labor on the long-run cost function. Consider a firm with the production function f(L,K) = LK. The wage rate and rental rate on capital are w and r, respectively. a
Using the Lagrangian, derive the long-run cost function for this firm. b. Suppose the government taxes labor at by an amount t per unit of labor. Rewrite the long-run cost function including the tax. Hint: the effective wage rate is now w + t. c. Compute the marginal effect of the tax on the long-run cost function. To do so, compute the partial derivative of the cost function with respect to t. Does an increase in the tax increase the cost linearly?
It is the responsibility of the Trading Desk at the Federal Reserve Bank of New York to implement policies in the form of
A) changes in the spread between the federal funds rate and the discount rate that are consistent with rules established by the twelve Federal Reserve bank presidents. B) variations in reserve requirements that are consistent with the announcements by the Chair of the Fed's Board of Governors. C) changes in foreign exchange rates that are consistent with policies established by the Secretary of the Treasury. D) buying or selling government securities that are consistent with the FOMC Directive.