Why do you think state and local governments have a major role in providing important services? Why doesn't the federal government take on more of this role?

Q: Two entrepreneurs, A and B, independently choose whether to sell their product in country X or…

A: Given information There are 2 players - A and B They choose the strategy independently and…

Q: . Under this law, a state receives a certain amount of money from the federal government to use on…

A: The government undertakes and implements a number of flagship programs in an economy to increase its…

Q: The number of times per year each dollar is spent     A. Money Supply   B. Velocity   C. Price…

A: Quantity theory of money shows the relationship between Velocity, Money supply , price level and the…

Q: ing. In the first round, player 1 proposes a division z = (₁, 72, 73), with 7₁ +1₂ + 13 = 1. After…

A: Backward induction is a technique for figuring out the best course of action by going backward in…

Q: For each of the following characteristics, say whether it describes a monopolistic competitive or…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: preferences happy to have are sh figure below. Taraji just as as she is to have

A: In economics and other social sciences, preference is the rating that an agent gives to…

Q: Amir and Beatrice play the following game. Amir offers an amount of money r € [0, 1] to Beatrice.…

A: Let's take There are 2 player Amir and Beatrice  Let's take Amir---A Beatrice ---B X --(0,1)---…

Q: he utility function is U(x1, x2)= 3ln (x1)+ 5x2, the prices are p1 and p2, and income is y. Derive…

A: Utility function shows the relationship between the utility and consumption of goods x1 and x2.…

Q: If the number of employed people equals 185 million, the number of unemployed people equals 15…

A: The labour force participation rates is calculated as the labour force divided by the total…

Q: Consider an overlapping generations model in which individuals live for two periods. Assume an…

A: PDV of second year endowment = Y2 /( 1+ r)  PDV of second year endowment= Y2 /(1+0.12) 120 = Y2 / (…

Q: The following graph plots a short-run Phillips curve for a hypothetical economy. Show the short-run…

A: The Phillips curve depicts the correlation between the unemployment rate and the rate of inflation.…

Q: 1. The marginal revenue product of a factor shows how much an additional unit of a factor adds to -…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Which of the following is true for this profit-maximizing firm at price P in the graph below?…

A: Profit maximisation is a process that businesses go through to make sure the best levels of output…

Q: 9 Suppose the federal government had budget deficits of $40 billion in year 1 and $100 billion in…

A: Budget Deficit occurs when the government expenditure exceeds the government revenue. While, there…

Q: How does contractionary monetary policy affect net exports in the short run? Contractionary monetary…

A: Contractionary monetary policy refers to the economic policy in which Central Bank reduces money…

Q: Analyze whether each of the following is primarily a microeconomic or macroeconomic issue. Justify…

A: Microeconomics refers to that branch of economics which relates to the study of individual decision…

Q: he set S; = {1,2,..., 10}. Voters are equally distributed across these ten positions, and ote for…

A: In game theory, a dominating strategy is one in which a single approach is the best for a player…

Q: An asset purchased for $50,000 has a depreciable life of five years, and it has a terminal book…

A: Depreciation refers to fall/decrease in the value of an asset. There are various methods of…

Q: Suppose there is some hypothetical closed economy in which households spend $0.85 of each additional…

A: Aggregate expenditure: aggregate expenditure is the sum of consumption expenditure, investment…

Q: A consumer is trying to decide between purchasing one smoothie or one cappuccino. They get 30 utils…

A: In economics, the term "utility" refers  to define the value or worth of a product or service. More…

Q: Agents a₁,...,ay each have strict preferences over houses h₁,...,hy. Houses are to be allocated…

A: If there exists an allocation, where one person can be made better off without decreasing the payoff…

Q: a) Find the break-even income level of a family with a consumption function of C = 13000 + 5/6 Y,…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: (e) How much are consumers saving at equilibrium and how much non-consumer spending is being…

A: Aggregate demand in an economy is the sum of private consumption expenditure (C), private investment…

Q: 8. Suppose the market for kidneys is estimated by the equation QD = 10,000 - 2P and Qs = 4,000 + P.…

A: Consumer surplus is the difference between the price that the consumer is willing to pay and the…

Q: Consider the overlapping generations model and assume that each person has a y₁ endowment of goods…

A: Young - Endowment when young = y1 Taxes when old = t1  Increase in taxes = t* Old - Endowment = y2…

Q: Economists ___________ perform controlled experiments the way medical researchers can.

A: An experimental economics subfield looks at human behaviour in real-world situations instead of…

Q: Suppose that the short-run aggregate supply curve is: π= 2 + 1.5 (Y-10), where it is inflation and Y…

A: Equilibrium is where the demand curve intersects the supply curve.  So,  At equilibrium aggregate…

Q: Amir and Beatrice play the following game. Amir offers an amount of money z € [0, 1] to Beatrice.…

A: Provided data Let's look There are 2 player Beatrice and Amir Let's take Amir—-A B- Beatrice X…

Q: Answer following as indic (Format: problem, then, solution 1. Brian borrowed from his friend, Mark,…

A: The cost of borrowing money is referred to as simple interest, and it does not take into account the…

Q: Suppose an increase in the cost of land increases the firm's fixed costs, as a result, average total…

A: The profit is maximized where MR = MC.  MR is the marginal revenue and is defined as the revenue…

Q: The covariance by itself is not very useful because ___________.

A: Covariance is a measure that depicts the relationship of two variables when they changes. There is…

Q: Two entrepreneurs, A and B, independently choose whether to sell their product in country X or…

A: In game theory, a dominating strategy is one in which a player's optimum course of action is one…

Q: Market is dementated by a few firms. Strategic behavior is very important.

A: Oligopoly is the markets structure with few firms selling homogeneous or differentiated products in…

Q: Question 1: The following is the game of fighting entry. A new firm, referred to as the entrant, has…

A: Sub game perfect Nash Equilibrium: A Nash Equilibrium is said to be subgame perfect if and only if…

Q: DPWH is considering building a new expressway going to Bicol to cut the travel time of consumers…

A: Given  Investment cost 1000 million Annual operating and maintenance cost 17 million Revenue…

Q: Two bidders compete in a sealed-bid auction for a single indivisible object. For each bidder i, the…

A: Let the valuation of two bidders be  : b1 & b2  Also the their valuations for the bid be : v1…

Q: How to solve part d?

A: According to the rule of declining marginal returns, increasing output by more variables leads to a…

Q: To manage cash flow, you should _____ and then subtract expenses you expect to incur. Select one:…

A: Since you have posted multiple questions, we will provide the solution only to the first question as…

Q: Amir and Beatrice play the following game. Amir offers an amount of money z € [0, 1] to Beatrice.…

A: Let's take There are 2 player Amir and Beatrice  Let's take Amir---A Beatrice ---B X --(0,1)---…

Q: If wages and prices adjust slowly, we would expect expansionary monetary policy to be less likely to…

A: In an economy, adjustment in prices and wages will lead to affect the short-run and long-run economy…

Q: 1,800 (year 1), 2,300 (year 2), 3,000 (year 3), and 3,700

A: Year Enrollment Year1 1800 Year2 2300 Year3 3000 Year4 3700

Q: I hire my wife to scan papers for me. I pay her by the page not by hour. what is my reasoning for…

A: A pricing policy is an approach to the price determination of a good or service on the basis of the…

Q: The Crude Version of the Quantity Theory of Money assumes:     A. Flexible Prices   B. Flexible…

A: As per quantity theory of money, M*V = P*Q where M is the money supply' V is the velocity of money…

Q: Consider an AS-AD model for the U.S. Suppose an economic expansion in Mexico increases income for…

A: Aggregate demand is the sum of Consumption, Investment, government spending and net export.  Net…

Q: Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly…

A: A monopoly refers to a type of market condition in which there is only one single seller that sells…

Q: Q5. Poverty measures a. The Poverty Gap Index or Normalized Poverty Gap is the Average Poverty Gap…

A: Since you have posted a question with multiple sub parts, we willprovide the solution only to the…

Q: Given the data table below: GDP Deflator, 2015-100 Year 2015 2016 2017 2018 2019 2020 100.00 100.40…

A: Here, the given table shows the data of GDP deflator and real GDP with 2015 as the base year. If…

Q: In Faria, a small monetary economy, the reserve requirement is 15%. By how much money supply changes…

A: The monetary base refers to the total amount of money that is either in the hands of the general…

Q: please explain: (a)The function offorward foreign exchange business (b)the main content…

A: The international market is known for the exchange of products and services among multiple nations.…

Q: In constructing an empirical demand function which of the following is correct? O It's important to…

A: The empirical demand function is a demand function that is derived from the actual data of the…