a. At a price of $210, the quantity demanded is 28,000 and the quantity supplied is 56,000.
b. The quantity supplied is equal to 48,000 at a price of $180.
c. The quantity demanded falls as price increases, thus illustrating the law of demand. People t
Ch 5 homework week 4
typically supply through savings, but demand for home mortgages, car loans, etc.
HW CH 9 week 10 answers
1. The unemployment rate is 5/85, or approximately 5.9%. Its the number of
unemployed divided by the labor force, not the adult population. The share of the
population in the labor force is 85/120 = 70.8%. The pie chart should have
CH 8 HW answers Econ Growth
1. Here are the calculations:
$5,000 (1 + .02)20 = $7,430 $5,000 (1 + .04)40 = $24,005
$5,000 (1 + .02)40 = $11,040 $5,000 (1 + .06)40 = $51,429
Notice that doubling the growth rate from 2% to 4% makes per capita GDP more
Homework answers Chapters 3
In answering questions like these, its often helpful to begin by organizing the information in a table.
Notice that in this case, the productivity of the countries is expressed in terms of how many workers
takes to produce
The labor-leisure budget constraint is drawn with leisure/labor on the horizontal axis and income on the
vertical axis. The slope is determined by the relative prices of income and leisurethat is, the wage.
Thus, the original slope is 8; that is, an inc
First homework answers:
1. a. Market-oriented, because the decision is made by a private actor;
b. Market-oriented, because the decision is made by a private actor;
c. Command-oriented: even though the statement doesnt say that the government
Chapter 7 Macro perspective homework answers
1. a. Consumption is clearly the largest category of demand. Either government or
investment could be listed as second and third, because they are very much the
same size. Smallest is the trade factor of export
Chapter 1 Homework (Brithaney Stewart)
1. Indicate whether each of the following decisions is more characteristic
of a primarily market-oriented economy or of a primarily commandoriented economy:
a. a family decides to start a restaurant; (primarily marke
One bottle of wine
France has an absolute advantage over Tunisia in both the production of sweaters and wine. This is because
it takes France less labor to produce 1 unit of the
Answer 1 The labor-leisure budget constraint consists of the income on the Y-axis while the labor-leisure is depicted on th
X-axis. The respective prices of the income and leisure, or in other words, the wage, establishes the slope. Henc
the initial slope
AIRLINE ECONOMICS AND FINANCE
Air Transportation: any common carrier transportation of passengers or cargo by
air within the U.S, or to or from the U.S, or any carriage of U.S. mail by aircraft.
Air Carrier: means only those carriers that engagi
CHAPTER 4: THE COST OF AIRLINE SERVICE
Available ton-miles: it means a ton of space available for a mile. How much space measured in tons is
available to each mile of flight.
Breakeven load factor: it means the percentage of seats that must be occupied by