Economics 1480 Homework #1 1) Rosen Chapter 3: problem 4 2) Rosen Chapter 3: problem 6 3) Consider the pure exchange economy discussed in class. There are two goods (x,z) and two individuals (1,2). Individuals have Cobb-Douglass preferences as follows: U1
Economics 1480 Answer key #1
1) Rosen Chapter 3: problem 4
Tickets Bahn
A Other goods B
Other goods
Angelo
Tickets
a. Point A is the initial allocation. b. Given the initial allocation in the Edgeworth Box above, one can see that both Angelo and Bahn can
Economics 1480 Homework #5
1) Rosen Chapter 12: problem 2 2) Rosen Chapter 12: problem 3 3) Rosen Chapter 13: problem 1 4) Earned Income Tax Credit and Labor Supply Suppose that Lola is deciding how many hours (H) to work. She can either work fulltime (H=
Economics 1480 Answer key #2
1) Rosen Chapter 4: problem 11 a. Zachs marginal benefit schedule shows that the marginal benefit of a lighthouse starts at $90 and declines, and Jacobs marginal benefit starts at $40 and declines. Neither person values the fi
Economics 148 Sample Final exam Directions: You have 3 hours to complete the exam (although it should not take 3 hours). Please place your final answer in the space provided below. Partial credit will be given for work that is both carefully done and legi
Economics 148 Sample Final Solution Directions: You have 3 hours to complete the exam (although it should not take 3 hours). Please place your final answer in the space provided below. Partial credit will be given for work that is both carefully done and
Economics 1480 Answer key #7
Question 1: Marriage penalties This question relates to the marriage penalty. Suppose that the brackets for single and married filers are as given below: Marginal tax rate Single bracket Joint bracket 10% $0-$6,000 $0-$12,000
Economics 1480 Homework #2
1) Rosen Chapter 4: problem 11 2) Rosen Chapter 4: problem 13 3) Read the article Why Budget Cuts for Public TV Roil Some Voters, which can be found on Lexis-Nexis Academic (Christian Science Monitor, January 19, 1995). a) Do yo
Economics 1480 Homework #4
Question 1: Rosen, chapter 6, problem 1 Question 2: Rosen, chapter 6, problem 9 Question 3: Logrolling The city of Westerville has three districts, each of which has one representative on the city council. The council is conside
Economics 148 Sample midterm solutions
Directions: You have 75 minutes to complete the exam. Please place your final answer in the space provided below. Partial credit will be given for work that is both carefully done and legible. Good luck! Problem A (2
Economics 1480 Answer key #4
Question 1: Rosen, chapter 6, problem 1
C wins in every pairwise vote. Thus, there is a stable majority outcome, despite the fact that persons 1, 2, and 3 have double-peaked preferences. This demonstrates that although multi-p
Economics 1480 Answer key #5
1) Rosen Chapter 12: problem 2 a. To maximize W, set marginal utilities equal; the constraint is Is + Ic = 100. So, 400 - 2Is = 400 - 6Ic. substituting Ic = 100 - Is gives us 2Is = 6 (100 - Is ). Therefore, Is = 75, Ic = 25. I
Economics 148 Sample Midterm
Directions: You have 75 minutes to complete the exam. Please place your final answer in the space provided below. Partial credit will be given for work that is both carefully done and legible. Good luck! Problem A (20 points)
Economics 1480 spring 2010 final exam ANSWER KEY 24 points for each problem Directions: Please place your final answer in the space provided below. Partial credit will be given in problems C, D, and E for work that is both carefully done and legible. Good
Economics 1480 spring 2010 Midterm #1 ANSWER KEY Directions: Please place your final answer in the space provided below. Partial credit will be given in problems C and D for work that is both carefully done and legible. Good luck!
Problem A (20 points 2.5
Economics 148 Sample Midterm #2 Directions: You have 75 minutes to complete the exam. Please place your final answer in the space provided below. Partial credit will be given for work that is both carefully done and legible. Good luck! Problem 1 (25 point
Economics 1480 Homework #6
1) Rosen Chapter 14: problem 5 2) Under legislation passed in 2001, the marginal tax rate on the wages of workers in the highest income category decreased from 39.9 percent to 34.0 percent. Use equation 15.4 in the textbook to a
Economics 1480 Homework #7
Question 1: Marriage penalties This question relates to the marriage penalty. Suppose that the brackets for single and married filers are as given below: Marginal tax rate Single bracket Joint bracket 10% $0-$6,000 $0-$12,000 15
Economics 1480 Answer key #8
Problem 1: Social Security Trust Fund Recall from lecture that the condition for a balanced budget for Social Security states that total benefits paid out of the system must equal receipts from the payroll tax system: (1) B Nb
Economics 1480 Homework #8
We plan to drop the lowest homework grade and this homework can thus be considered optional. Problem 1: Social Security Trust Fund Recall from lecture that the condition for a balanced budget for Social Security states that tota
Economics 1480 spring 2010 midterm 2 ANSWER KEY Directions: Please place your final answer in the space provided below. Partial credit will be given in problems A and B for work that is both carefully done and legible. Good luck! NOTE: Each of the four pr
Economics 275 Spring 2007 Midterm #2 Directions: You have 75 minutes to complete the exam. Please place your final answer in the space provided below. Partial credit will be given for work that is both carefully done and legible. Good luck! Problem 1 (25