Transcribed Image Text from this Question1. The expected value of a gamble Sean and Yvette are friends who are attending a “casino night at a charity fundraiser. Once inside, there’s a table at which you can gamble. For $10, you can flip a coin. If it comes up heads, you get $15 back, for a gain of $5. If it comes up tails, you get $5 back, for a loss of $5. For all parts of this question, assume that, if you are indifferent between taking the gamble and not taking it, you will take the gamble. This game is Suppose Yvette decides not to take the gamble. Can you conclude from this that she is risk neutral? Yes O No Suppose Sean decides to take the gamble. Suppose a different table offers another $10 coin flip where heads pays $25 and tails pays $0. Can you conclude that he would also accept this gamble? O No Yes Grade It Now Save
The Demand For Headphones Is Given By P = 240 – 8Qd. Supply Of
The demand for headphones is given by P = 240 – 8Qd. Supply of headphones is given by P = 8Qs. At the market equilibrium Group of answer choices total revenue would increase if the price increased total revenue is minimized total revenue would decrease if the price decreased total revenue is maximized None of the other answers is correct.
Question 10 1 Pts Consider A Single-price Monopolist Facing A Demand Curve Of P
Transcribed Image Text from this QuestionQuestion 10 1 pts Consider a single-price monopolist facing a demand curve of P = 60 – 3q, where P is market price and q is quantity. The monopolist has a total cost curve TC=30q. What is the deadweight loss created by the monopolist? 0 37.5 0 200 0 O None of the other answers is correct O 125 Question 11 1 pts Which of the following statements about the game below is true? Firm 2 Firm 1 Heads Tails Head (1,-1) K-1,1) Tails (-1,1) (1,-1) i. This is type of game is called a zero-sum game. ii. There is a (pure strategy) Nash Equilibrium. iii. There is a first-mover advantage. O Statement iii. Statement ii. None of the other answers is correct. O All the statements are true. O Statement i Question 12 1 pts In a perfectly competitive market, the demand for tents is given by P = 120 – 4Qd. Supply of tents is given by P = 4Qs. At the market equilibrium O total revenue would increase if the price increased O total revenue is minimized None of the other answers is correct. total revenue would decrease if the price decreased O total revenue is maximized Question 20 1 pts Which of the statements is true? 1. A perfectly competitive firm always exits the market in the short run if the price is below average total cost. II. In the short run, a perfectly competitive firm can optimally decide to operate while making a loss Natural monopoly has declining long-run fixed cost O only I is true O only I and III are true O I, II and III are true O None of the other answers is correct O only II is true
Question 28 1 Pts The Planned Aggregate Expenditures (PAE) Curve Is Given By PAE
Transcribed Image Text from this QuestionQuestion 28 1 pts The Planned Aggregate Expenditures (PAE) curve is given by PAE = C P G where consumption spending is given by C = A byd, disposable income yd = Y-T-ty, where Y is output, Tis lump-sum taxes, t is the proportional tax rate and b is the marginal propensity to consume. Planned investment is given by IP and government spending is G. Planned investment and government spending do not depend on Y. Suppose A = 100, b=0.8, T = 50, t = 0.5, 1P = 100 and G = 140. Equilibrium Y is: 1500 500 O None of the other answers is correct 750 300 Question 29 1 pts Which of the following is the best way to compare living standards across countries? GDP at market exchange rates GDP per person at market exchange rates GDP at purchasing power parity exchange rates GDP per person in local currency GDP per person at purchasing power parity exchange rates Question 30 1 pts A recent Labour Force Survey contains the following information: 60 900,000 Participation rate (%) Unemployed persons Working age population Unemployment rate (%) 10 The working age population is: 9,000,000 1,500,000 None of the other answers is correct 8,100,000 There is not enough information
Question 31 1 Pts The Equation Inflation Rate = A – B*(change In GDP
Economics Assignment Writing ServiceTranscribed Image Text from this QuestionQuestion 31 1 pts The equation inflation rate = a – b*(change in GDP growth) where the change in GDP growth is in percentage points and the inflation rate is in percent terms, describes an Okun’s law relationship if O b=0.5 Ob= -2 O b= 2 None of the other answers is correct Ob= -0.5 Question 32 1 pts Suppose you borrow $100,000 from the bank for one year at a nominal interest rate of 5 per cent per year. You expected inflation to be 2 per cent over the year but actual inflation turns out to be 5 percent. Then: O The actual and expected real interest rate is 3 per cent The expected real interest rate is 3 per cent and the actual real interest rate is 0 per cent The expected real interest rate is o per cent and the actual real interest rate is 3 per cent The actual and expected real interest rate is O per cent None of the other answers is correct Question 33 1 pts The optimal inflation rate is positive rather than zero because O The tax system is not indexed to inflation Inflation prevents relative prices adjusting when some prices are hard to reduce in nominal terms None of the other answers is correct Inflation enables relative prices to adjust when some prices are hard to reduce in real terms There is an upward bias in the consumer price index
According To The Neoclassical Growth Theory, Sustained Rising Material Living Standards Can Only Be
Transcribed Image Text from this QuestionAccording to the Neoclassical growth theory, sustained rising material living standards can only be explained by Select one: O a balanced growth of labour and capital. b. exogenous technological change. C. growth in the labour force. d. growth in physical capital. e. growth in human capital.
Question 34 1 Pts A New Gym Which Will Be A Monopolist In The
Transcribed Image Text from this QuestionQuestion 34 1 pts A new gym which will be a monopolist in the area is opening and is trying to figure out its pricing mechanism. The owner has decided to set a one-time membership fee and then ask members to pay per visit. She knows that each consumer’s demand is given by P=30-2Q and her gym’s MC=10. What is the optimal membership fee she should charge? $50 $400 $100 O None of the other answers is correct. $200 Question 35 1 pts Consider the matrix below that does not yet contain all the necessary payoffs. Fill in the payoffs, a and b, such that the structure of the game is equivalent to a prisoners’ dilemma. Player 1 Player 2 F (a,80) (40, b) F R (6,40) (100,100) R a=80,b=150 a=200,b=40 a=160, b=0 a=20,b=140 None of the other answers is correct. Question 36 1 pts The equation inflation = a b*(unemployment rate – natural rate of unemployment) represents a Phillips curve if O bis positive and a is expected inflation bis positive None of the other answers is correct bis expected inflation a is positive and b is expected inflation
Suppose You Own Hot Air Balloon Rides During A Local Sports Event In Vancouver,
Suppose you own Hot Air Balloon Rides during a local sports event in Vancouver, Canada, which is a singleprice monopoly (see Figure 1). Columns 1 and 2 of the following table set out the market demand schedule and columns 2 and 3 set out the total cost schedule. (FIGURE1) A) Calculate the firm’s Consumer Surplus (CS), Producer Surplus (PS), and total Deadweigh Loss (DWL) under this single-price monopoly by comparing the Perfect Competition: P, Q, Pi, CS, PS, and DWL, what can you conclude? B) If instead of taxing Hot Air’s profit, the government imposes a sales tax on balloon rides of $30 a ride, what are the new profit-maximizing quantity, price, and economic profit? C) If your brother finds out that you profit from this Hot Air Balloon Rides, he wants to buy 2nd Balloon with similar cost structure and runs his Hot Ballon Riding business independently. What is your estimated market structure change in terms of P, Q, Pi, CS, PS, and DWL and why? D) If more and more vendors join in this market from the other provinces of Canada and the USA, what can you predict the market structure change in terms of P, Q, Pi, CS, PS, and DWL. Show transcribed image text
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