Fox Box, Inc., a firm in monopolistic competition market, produces shower radios. The
company's economists know that it can sell no radios at $80, and for each $10 cut in
price, the quantity of radios it can sell increases by 50 a day. This relationship
continues to hold until the price falls to $20. The firm's total fixed cost is $3,000 a day.
Its marginal cost is constant at $20 per radio.
Victor's Springs produces a unique mineral water. The firm faces the demand schedule
shown in the first table above and has the cost schedule shown in the second table
above.
Adele's profit-maximizing output is ______ and price is ______. Under this quantity
and price, Adele's economic profit or loss is ______.(每格1 分)
Endogenous growth theory rejects the assumption of exogenous:
production functions
rates of depreciation
population growth rates
technological change
When the demand for money parameter, k, is large, the velocity of money is
and money is changing hands _______.
large; frequently
large; infrequently
small; frequently
small; infrequently
All of the following are reasons for frictional unemployment except:
Workers have different preferences and abilities
Unemployed workers accept the first job offer that they receive
The flow of information is imperfect
Geographic mobility takes time
In a small open economy, if the world real interest rate is above the rate at which
national saving exceeds domestic investment, then there will be a trade ______ and
______ net capital outflow.
surplus; negative
deficit; positive
surplus; positive
deficit; negative
Assume that a country's production function is Y = K1/2 L1/2 .
(1)Assume that the country possesses 40,000 units of capital and 10,000 units of labor.
What is Y?
What is labor productivity computed from the per-worker production function? Is
this value the same ad labor productivity computed from the original production
function?(6 分)
(2) Assume that 10 percent of capital depreciates each year. What gross saving rate is
necessary to make the given capital-labor ratio the steady-state capital-labor
ratio?(6 分)
(3) If the saving rate equals the steady-state level, what is consumption per worker? (6
分)
Through out much of the 1990s, the United States experienced declining energy prices.
Assume that the U.S. economy was in long-run equilibrium before these declines
began.
(1) Use the aggregate demand-aggregate supply model to illustrate graphically the
short-run and long-run impact of this decline on output and prices. (6 分)
(2) If the Federal Reserve attempted to offset this deviation from the natural rate in the
short run, should the money supply be increased or decreased (please explain in
detail)? (6 分)
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