Questions from Macroeconomics

Q: A dozen eggs cost $0.88 in January 1980 and

A dozen eggs cost $0.88 in January 1980 and $2.11 in January 2015. The average wage for production workers was $7.58 per hour in January 1980 and $19.64 in January 2015. a. By what percentage did the...

Q: The International Property Right Index scores countries based on the legal and

The International Property Right Index scores countries based on the legal and political environment and how well property rights are protected. Go online and find a recent ranking. Choose three count...

Q: How does the rate of population growth influence the level of GDP

How does the rate of population growth influence the level of GDP per person?

Q: Explain whether each of the following government activities is motivated by a

Explain whether each of the following government activities is motivated by a concern about equality or a concern about efficiency. In the case of efficiency, discuss the type of market failure involv...

Q: Why is productivity important?

Why is productivity important?

Q: What are the two subfields into which economics is divided? Explain

What are the two subfields into which economics is divided? Explain what each subfield studies.

Q: Suppose that in a year an American worker can produce 100 shirts

Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. a. For each country, graph the production possibilities fr...

Q: The market for pizza has the following demand and supply schedules:

The market for pizza has the following demand and supply schedules: a. Graph the demand and supply curves. What are the equilibrium price and quantity in this market? b. If the actual price in this m...

Q: A tax on a good has a deadweight loss if a

A tax on a good has a deadweight loss if a. the reduction in consumer and producer surplus is greater than the tax revenue b. the tax revenue is greater than the reduction in consumer and producer sur...

Q: Beer and pizza are complements because they are often enjoyed together.

Beer and pizza are complements because they are often enjoyed together. When the price of beer rises, what happens to the supply, demand, quantity supplied, quantity demanded, and price in the market...