# Assignment help-ECON 361 – Intermediate Microeconomics

Assignment help-ECON 361 – Intermediate Microeconomics

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Chapters 3 & 4 Homework #2 Due: September 14th, 2017
ECON 361 – Intermediate Microeconomics Page 1 of 1
1. Jan has the following utility function for broccoli:
U(B) = 54B 􀀀 0:5B3
a) What is Jan’s marginal utility function?
b) Plot the utility and the marginal utility functions on two
separate graphs. Be sure to label the axes and the curves
carefully.
c) Suppose that Jan is allowed to consume as much broccoli
as she likes and that broccoli costs her nothing. Show,
both algebraically and graphically, the value of B at which
she would stop consuming broccoli.
2. Consider the utility function U (x; y) = 12×3=2y1=2.
a) What are MUx and MUy?
b) Does the consumer believe that more is better for each
good? Explain using your answer from a).
c) Do the consumer’s preferences exhibit a diminishing
marginal utility of x? Is the marginal utility of y dimin-
ishing?
3. Draw indierence curves to represent the following types of
consumer preferences. Make sure to include arrows to indicate
direction of preference. (Hint: Start with a bundle (say 10
units of each), and think about other bundles that give the
consumer the same utility.)
a) I like Soda, but neither like nor dislike Coee.
b) I dislike Soda, but neither like nor dislike Coee.
c) I like Soda, but dislike Coee.
d) I like both Soda and Coee, and always get the same ad-
ditional satisfaction from 1 ounce of Soda as I do from 2
ounces of Coee.
e) I like Soda and Coee, but I only want 2 ounces of Soda
for every 1 ounce of Coee.
4. The utility that Mary receives by purchasing E units of enter-
tainment and purchasing F units of food is given by,
U (E; F) = E1=2F
a) What are the marginal utility functions?
b) On a graph with E on the horizontal axis and F on the
vertical axis, draw indierence curves for U = 12, U = 18,
and U = 24.
c) Do the shapes of these indierence curves suggest that
Mary has a diminishing marginal rate of substitution of
entertainment for food? Explain.
d) Using the marginal utilities, determine the MRSE;F .
e) Calculate the slope of the indierence curve U = 12 at
the points (E; F) = (4; 6); (1; 12). Do these slopes suggest
diminishing marginal rate of substitution?
Now, assume that entertainment costs \$4 per unit and the
food cost \$2 per unit. Mary has \$24 to spend on entertainment
and food.
f) Using algebra (the tangency condition and budget line),
nd the optimal choice of entertainment and food.
g) Using a new graph with entertainment on the horizontal
axis and food on the vertical axis, draw the budget line,
the utility maximizing basket, and the indierence curve
that contains the utility maximizing basket.
h) Now, assume that Mary has \$I and the prices are PE and
PF , solve for the optimal basket as a function of I; PE;
and PF .
5. Alex is currently spending all of his income and consumes 10
hamburgers and 3 salads each week. At his current consump-
tion basket, his marginal utility for hamburgers is 5 and his
marginal utility for salads is 2. If the price of one hamburger
is \$3 and the price of one salad is \$1.50, is Alex currently
maximizing his utility? If not how should he reallocate his
spending in order to increase his utility?
6. Tom is trying to decide whether or not to buy Arizona season
tickets for basketball. There are a total of 20 home games dur-
ing the 2017-2018 basketball season. If Tom buys individual
game tickets they cost \$25 each. A season ticket which allows
Tom to go to all the games costs \$325. If for some reason Tom
can’t go to a game, then he can sell the tickets to his friend
for \$10 per game.
a) On a graph with games attended on the horizontal axis
and \other goods” on the vertical axis draw Tom’s budget
line.
b) On the graph from part (a) draw a set of indierence curves
that illustrates why Tom may be better o without season
tickets.
c) On a new graph draw the same budget line you found in
part (a). Now draw a set of indierence curves that illus-
trates why Tom might not be better o with season tickets.
7. A consumer buys two goods, food and housing, and likes both
goods. When she has budget line BL1, her optimal choice is
basket A. Given budget line BL2, she chooses basket B, and
with BL3, she chooses basket C. Examine the following graph
in order to answer the following questions: (Hint: use revealed
preference, transitivity and more is better)
BL1 BL2 BL3
A
C

B

a) What can you infer about how the consumer ranks baskets
A, B, and C? If you can infer a ranking, explain how. If
you cannot infer a ranking, explain why not.
b) On the graph, shade in (and clearly label) the areas that
are revealed to be less preferred to basket B, and explain
why you indicated these areas.
c) On the graph, shade in (and clearly label) the areas that
are revealed to be (more) preferred to basket B, and ex-
plain why you indicated these areas.

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# Need Help-Macroeconomics Problems

Need Help-Macroeconomics Problems

1
Intro Macro                              N. Sheflin
Extra Credit    Do any ONE of the following that appeals to you. Write your report as though addressing a clever friend who knew little economics, and use graphical or algebraic analysis as appropriate.  Your work should be submitted via the ASSIGNMENT tool in Sakai as a WORD ATTACHMENT. It is due by December 16  9pm– no late submissions will be accepted.
DO NOT CHEAT.  Your submission will automatically be checked by TURNITIN for plagiarism and checked against previous semester’s submissions. Be very careful to cite any sources used, use only your own words, not use the work of others without citation.  The extra credit can add as much as 2% to your total points, but unless it is perfect, will likely add less. It will be given a 0-100% grade which sakai will convert into a 0-2% addition to your total points.  There is no penalty for not doing the extra credit. Note that the final exam is a much more important determinant of your grade in the course so do not allow the extra credit to reduce your study time for the final.
TO GET ANY CREDIT, YOU MUST:  INCLUDE and answer THE QUESTIONS I provide (copy and paste any of the following questions right into your report). If you do not include my questions with your answers after each one, you will receive no credit.    NOT QUOTE from the book/article or anywhere else – Answer questions in YOUR OWN WORDS   ANALYZE the material – you will be graded on your analysis, not your ability to summarize the source.   RELATE the reading to what we are studying in this course.  NOT write a book reports – ANSWER THE QUESTIONS  NOT USE OTHERS WORK OR WORDS WITHOUT CITING THEM – don’t plagiarize (don’t copy and paste from Wikipedia, google searches, etc).  Submit a 6-8 ‘typed’, double-spaced document in 11 point font.as a word attachment via Sakai’s ASSIGNMENT tool (not as a pdf)
1. Read Naked Money: A Revealing Look at What it is and Why it Matters, by Charles Wheelan, 2016, W.W. Norton and Company) and select at least one interesting point in each chapter and briefly summarize  and relate it to what we have covered this semester. You must number and highlight each point, and then discuss/explain it.  Ex: chapter 1 Why Gold is not a good money. As discussed in class, ….
2. Read at least sections I, II, III and V of Alan Blinder’s After the Music Stopped (2013) and explain his answers to the three questions he posed in chapter 1:    1. How Did We Ever Get Into Such A Mess,  2. What was Done and Why, and  3. Did We ‘Waste’ The Crisis?
3. Read “John Maynard Keynes Is the Economist the World Needs Now”      http://www.businessweek.com/articles/2014-10-30/why-john-maynard-keyness-theories-can-fix- the-world-economy  and   a. explain WHY we needed  Keynes then/ (financial crisis and great recession) by listing 10 important  points  made in the article and below each explain in terms of the theories and concepts developed in the course. Be sure to include points made about the recent U.S. and European recession as well as the great depression.    i. Ex: 1. Austerity  the article refers to austerity which is … Keynes explains this through the paradox of thrift in which …
b. Do we need Keynes NOW, given the state of the economy in 2016?
2
c. Read the Keynes Biographical sketch  http://www.pbs.org/wgbh/commandingheights/shared/minitext/prof_johnmaynardkeynes.html and list and list and  i)  explain 10 interesting economic and biographical items in discusses.  (again, list a point and then discuss it below it).   ii) Was Keynes a socialist?
3.  Read MAESTRO: Greenspan’s Fed and the American Boom by Bob Woodward, 2000, Touchstone Books. This fast-reading book covers Greenspan’s term at the Fed, up to 2001 and explains the economic events and the workings of the Fed in a non-technical way. Of course it is quite dated now, but good intro to how the Fed works and a quick read. Answer each of the following.  a. Select three crises that occurred under Greenspan’s term, summarize the causes, consequences, and role of the Fed in each. b. Why was Greenspan (as Fed Chairman) concerned with such non-Fed issues as: i. the Federal Government Budget Deficit ii. the Bond market iii. the Social Security and Medicaid problems iv. That is, what did these have to do with the Fed? c. In hindsight, what errors did Greenspan make in his term as Chair of the Fed? d. Find 3 interesting personal facts about Greenspan and explain. Also, what is his, somewhat indirect, connection to Rutgers? e. Compare Bernanke’s term with Greenspan’s in terms of challenges and responses (this is not in the book-do some research here) i. What were the major issues of each Chair? ii. What was the basic public persona of each? iii. What was the educational and professional background of each? f. And what about Yellen’s term in comparison so far?
(There is a newer and more comprehensive biography of Greenspan by Mallaby The Man Who Knew but I’m still reading it)
4. Read http://larrysummers.com/2016/02/17/the-age-of-secular-stagnation/ and http://www.economist.com/blogs/graphicdetail/2014/11/secular-stagnation-graphics and  https://www.weforum.org/agenda/2016/01/the-fourth-industrial-revolution-what-it-means-and-how- to-respond/  and  http://time.com/4269733/secular-stagnation-larry-summers/  and answer the following: a. In what ways has the recovery from the recession been surprising? b. What is secular stagnation according to Summers, and what is the ‘core problem’? c. What evidence is there that we face secular stagnation? d. What are some of the alternative explanations of the issues, (liquidity trap, savings glut, etc).? e. What role do interest rates play in secular stagnation f. How does the ‘fourth industrial revolution / new economy” enter into secular stagnation? g. What does Summers’ see as the ‘cure’ h. What are some of the international policy implications of secular stagnation according to Summers? i. What are some political implications?
5. Read Burton Malkiel’s A Random Walk Down Wall Street (2016, W W Norton & Co;). Do the following, based on reading at least chapters 1-10 and 15 with the stress on part II. a. Why is the book titled “A Random Walk …”? b. Why are (some) markets efficient and why do stocks follow a random walk?
3
c. Explain why you can’t beat the market, according to Malkiel? d. What are the arguments/ evidence against efficient market theory? In favor? e. What are the implications for your personal investing of efficient markets hypothesis? f. What did the speculative episodes described in chapter 2 have in common? g. Define and defend Fundamental Analysis and explain why it doesn’t work. h. Explain and critique Technical Analysis and explain why it is widely used in light of your critique i. What are the main investment lessons of behavioral economics/finance – list and very briefly explain? j. Find 4 examples from recent news articles dealing with issues raised by Malkiel, cite and comment upon them. (copy and paste the headlines and briefly comment) k. What does Malkiel feel about the bubbles of the 2000s? l. How does Malkiel suggest you invest once you start working?

# Purchase Answers-Principles of Macroeconomics.

Purchase Answers-Principles of Macroeconomics.

Principles of Macroeconomics. DATA EXERCISE #2 INSTRUCTION

DUE DATE;

DATA EXERCISE #2

Format of the Project:

The Data Exercise Attachments are limited to a maximum two files in doc, docx., xls. xlsx., or rtf. formats. OTHER FORMATS ARE NOT ACCEPTABLE.

Please note that hand-written and scanned works, pdf. files, jpg. files, as well as files posted in google drive, will not be accepted .

The paper should be written in APA style Research Paper format.

Please note that Use of APA Citation Methodology is required for all parts of the assignment

Data exercise #2 Consists of three parts

Part 1: The Unemployment Rate (weight 30% of the assignment grade)

Complete the following exercise

Visit the Bureau of Labor Statistics Web Site,

www.bls.gov/news.release/empsit.toc.htm . Select Employment Situation Summary.

Write a report (1-2 pages double – spaced) to answer the questions:

1. What month (and year) is summarized? What was the unemployment rate for that month? How does that rate compare with the rate in the previous month?
2. What were the unemployment rates for adult women, teenagers, blacks, Hispanics, and whites? How did these rates compare with those a month earlier?
3. What factors make it difficult to determine the unemployment rate?
4. Why is unemployment an economic problem?
5. What are the non-economic effects of unemployment?
6. Who loses from unemployment?

Part 2: The Inflation Rate (weight 30% of the assignment grade)

Complete the following exercise:

Visit the Bureau of Labor Statistics Web Site,

www.bls.gov/news.release/cpi.toc.htm . Select Consumer Price Index Summary.

Write a report (1-2 pages double – spaced) to answer the questions:

1. What month (and year) is summarized? What was CPI-U for that month?
2. What was the rate of inflation (percentage change in the CPI-U) for the month? How does that rate of inflation compare with the rate in the previous month?
3. Which two categories of goods or services had the greatest price increase for the month?
4. Which two categories of goods or services had the lowest price increase (or greatest price decrease) for the month?
5. Who loses from inflation?
6. Who benefits from inflation?

Part 3: Unemployment Data by Labor Force Groups and Duration (40% of the project grade)

Go to https://www.whitehouse.gov/administration/eop/cea/economic-report-of-the-President/2016

– the home page of the Economic Report of the President.

Scroll down and Click on the link download as pdf.

This link is located below Appendix B: Statistical Tables Relating to Income, Employment, and Production.

1. Find unemployment data (Table B–12.—Civilian unemployment rate) for the following four years 1995, 2000, 2005, and the last available year. Use four labor force groups: males, and females, in each case 16 to 19 years of age, versus 20 years of age or over. Present the result in your project as a table.
2. Use the Economic Report of the President (Table B–13.—Unemployment by duration and reason) to find data on the duration of unemployment in 1995, 2000, 2005, and the last available year. Present the result in your project as a table.

Write a report (1-2 pages double-spaced) about the results you received.

In this paper consider, but do not be limited to the following:

• Compare the distribution of unemployment by duration over these years. What relationship, if any, do you find?
• Starting in the early 1990s many U.S. firms downsized their operations. In your opinion, how did this affect the duration of unemployment?
• Demographic studies show that the proportion of teenagers and minorities in the U.S. population is likely to increase in the near future. In your opinion, what implications, if any, will this trend have on the unemployment rate?

WRITING GUIDELINE for the Data Exercise #2

DATA EXERCISE #2

Part 1: The Unemployment Rate.

Must be thorough in development and articulation in presenting and analyzing the data in the unemployment rate.

Part 2: The Inflation Rate.

Must be thorough in development and articulation in presenting and analyzing the data in for the inflation rate.

Part 3: Unemployment Data by Labor Force Groups and Duration. Must be very thorough in development and articulation in presenting and analyzing the data Unemployment Data by Labor Force Groups and Duration

Purchase Answers-Principles of Macroeconomics.

# Need Help-Roles of Credit review Bureau

Need Help-Roles of Credit review Bureau

Roles of Credit review Bureau

Description

Write an essay of literature review explaining the role of Credit review Bureau in enhancing financial security in the east African countries Economies.

Need Help-Roles of Credit review Bureau

# Economics

Economics

The past 10 years have seen a number of changes in industries across the United States, but few have been hit as hard as the newspaper industry. From a loss of subscribers to a loss in advertising revenue, print newspapers are experiencing economic change unlike any other time in history. In 2009, Denver’s Rocky Mountain News stopped publishing in February, the Seattle Post-Intelligencer ceased printing their publication and converted to an online-only format in March (and in the process, laid off 145 of their 165 employees), McClatchy Co., owner of the Miami Herald, announced in March it was cutting 1,600 jobs and reduce wages throughout the company, and even the venerable New York Times made a deal to sell its share of its headquarters and lease it back, raising a much needed \$225 million in the process. More recently, in May 2012, the 175-year-old New Orleans Times-Picayune reduced its print-edition publication from seven to three days a week, making New Orleans the largest city in the United States without a daily newspaper. Many cities have been impacted by newspapers either completely shutting down, cutting back on publication, or moving to online-only formats, including Cleveland, Detroit, Portland, Baltimore, Cincinnati, Albuquerque, and Honolulu. These are just a few of the many examples of hard times in this industry.

The past 10 years have seen a number of changes in industries across the United States, but few have been hit as hard as the newspaper industry. From a loss of subscribers to a loss in advertising revenue, print newspapers are experiencing economic change unlike any other time in history. In 2009, Denver’s Rocky Mountain News stopped publishing in February, the Seattle Post-Intelligencer ceased printing their publication and converted to an online-only format in March (and in the process, laid off 145 of their 165 employees), McClatchy Co., owner of the Miami Herald, announced in March it was cutting 1,600 jobs and reduce wages throughout the company, and even the venerable New York Times made a deal to sell its share of its headquarters and lease it back, raising a much needed \$225 million in the process. More recently, in May 2012, the 175-year-old New Orleans Times-Picayune reduced its print-edition publication from seven to three days a week, making New Orleans the largest city in the United States without a daily newspaper. Many cities have been impacted by newspapers either completely shutting down, cutting back on publication, or moving to online-only formats, including Cleveland, Detroit, Portland, Baltimore, Cincinnati, Albuquerque, and Honolulu. These are just a few of the many examples of hard times in this industry.
-Why do you think the newspaper industry has been hit so hard?
-What sources do you use to get news? Why?
-Do you subscribe to a local paper, and if so, do you receive a print copy or receive it electronically?
-How have changes in the news industry affected unemployment? Discuss how changes in this industry have resulted in not only cyclical unemployment, but also frictional and structural unemployment.
Sources: Shira Ovide, “Seattle Paper Advances Plans to Turn into Online-Only Publication,” Wall Street Journal, March 9, 2009; Kenneth Li, “End of an Era for Hearst’s Seattle Paper,” Financial Times, March 17, 2009; and Russell Adams, “New York Times Does Sale-Leaseback Deal,” Wall Street Journal,” March 10, 2009; newspaperdeathwatch.com

# Economics Discussion Question; Cost of popcorn spikes

Economics Discussion Question

Cost of popcorn spikes

Listen to the following NPR audio clip;

http://www.npr.org/templates/story/story.php?storyId=92529379

Then, applying what you have learned in, briefly discuss and provide examples of the following questions related to the cost of popcorn:
(1) What two factors are the basic determinants of costs? Give examples of both determinants from the audio clip;
(2) What’s the difference between direct (explicit) and indirect (implicit) costs? Give an example of both from the audio clip;
(3) Did Will Weaver seem to be driven to minimize costs (briefly justify your answer)? Give two reasons why business people worry about the costs of production

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# Managerial Economics:

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Managerial Economics

Complete Individual Problems 17-2 and 17-6 at the end of Chapter 17 in Managerial Economics: A Problem-Solving Approach. In addition, you are required to complete Group Problem G17-1: Uncertainty. As you are evaluating your current company, address the following decisions in your response (500-750 words):

What environmental factors and risks must be considered in the company’s decision-making process?
Evaluate costs factors influencing the company’s decision.
Determine strategies that would provide value to the outcome your company is seeking relating to this decision.
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center.

An abstract is not required.

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# Do you believe immigrants really hurt US workers wages? Why or why not?

Do you believe immigrants really hurt US workers wages? Why or why not?

-Read The Economist article, “Myths and migration: Do immigrants really hurt American workers’ wages,” and “Give me your scientists… Restricting the immigration of highly skilled workers will hurt America’s ability to innovate.” Do you believe immigrants really hurt US workers wages? Why or why not?

Is our current immigration laws costing the US our competitive edge in innovation? Should immigration laws be reformed or toughened?

Must we sacrifice economic competitiveness for security? Or can a beneficial balance be obtained?

Each student replies to instructor’s initial discussion question with a substantive post (minimum of 250 words).