(a) What is the compensating variation? What is the equivalent variation? What is the di⁄erence between them?

(b) You consume two goods, good x and good y. These goods sell at prices px = 1 and py = 1, respectively. Your preferences are represented by the following utility function: U(x,y) = x+ln(y). You have an income of m = 100.

How many units of x and y will you buy and what will is your utility? If px increases from $1 to $2; figure out the compensating variation (CV) associated with price change.

(c) If instead your utility is U(x,y) = ln(x) + y, figure out the compensating variation (CV) as px increases from $1 to $2.

(d) Are the compensating variations the same for both of the above utility functions? Explain your answer rigorously.

The answer should be not over one single page for each questions and I need a diagram for number two. please draw a diagram as well.

simplify is okay as long as it's correct

please help me.

1 . If the bank of Canada sells some of its holdings of bonds to the chartered banks, the bank will use some of their reserves but in doing so it will add to the money supply <Is this correct or False?) and Explain your answer.

2.Illustrate and Explain how monetary policy can be destabilizing and how a monetary rule could work to reduce the amplitude of the business cycle

Part 1

Between 2015 and 2016, the country of West Fredonia experienced a growth rate of -2.6%. If nominal GDP had increased by 1.3% and the population growth was recorded as 0.4%, then calculate the annual inflation rate in West Fredonia. Give your answer to one decimal._____________    %

Part 2

Using the information in the table above, calculate economic growth for 2015. Give your answer to two decimal places.
__________    %

4. How to use the three monetary policies and the three fiscal policies to reduce BOP deficit? Please explain how each policy works, i.e., how economic entities react to the policy changes so that the deficit will be reduced.

1. Suppose the exchange rate between US$ and Euro, US$ and Japanese Yen are:

    1 US$ = 2 Euro; 1 US$ = 100 Yen.

    Suppose the interest rates published by central banks in the U.S., Euro zone, and Japan are 2%, 3%, and 4%, respectively;

    And, suppose the inflation rates in the U.S., Eurozone, and Japan are 1%, 2%, and 1%,

    respectively. Therefore, (calculation formula is optional)

Q1.1: How much Yen can 1 Euro exchange for?

Answer1.1:

Q1.2: What is the real interest rate for the US, Euro zone, and Japan, respectively?

Answer1.2:

            US=

            Euro zone=

            Japan=

Q1.3: (True/False) A person with 2 Euro can convert the money into Yen and save it in Japanese banks for one year, and get 103 Yen back.

Answer1.3:

Assume a two-country, two-good, two-input model. Let the countries in the model be the United States and the Rest of the World and the goods be steel and wheat. The two factors of production are capital and land. Further, the United States is capital-abundant and steel production is capital-intensive. Suppose, in the absence of trade, the United States operates at a point on its production possibility curve where it produces and consumes 20 units of wheat and 20 units of steel. Once it engages in free trade, the international price of one unit of steel is two units of wheat. In response to the opening of trade, the United States moves along its production-possibility curve to a new point where it produces 30 units of steel and 10 units of wheat. Is the United States better off following the opening of trade? Illustrate with a diagram and provide a clear explanation for your answer

Comment on the President's 2020 Budget (submitted to Congress on March 11) to look at specific proposals (no endorsement!) on the national debt and also what are your thoughts on US national debt.

Part 1   (1 point)

See Hint

Suppose that nominal GDP was $9250000.00 in 2005 in Orange County California. In 2015, nominal GDP was $11000000.00 in Orange County California. The price level rose 1.50% between 2005 and 2015, and population growth was 4.25%. Calculate the following figures for Orange County California between 2005 and 2015. Give all answers to two decimals.

a. Nominal GDP growth was _________ %.

Part 2   (1 point)

See Hint

b. Economic growth was __________ %.

Part 3   (1 point)

See Hint

c. Inflation was ___________ %.

Part 4   (1 point)

See Hint

d. Real GDP growth was ________ %.

Part 5   (1 point)

See Hint

e. Per capita GDP growth was __________ %.

Part 6   (1 point)

See Hint

f. Real per capita GDP growth was __________ %.

1)Which of the following is not an example of the political economy approach (or critical medical anthropology) view of disease?

A) Looks at the link between disease and both micro and macro level social and cultural forces

b) Looks at how globalization affects health

c) Looks at the ways that socioeconomic status gives health advantages to some at the disadvantage of others

D) Looks at how life is shaped only by local circumstances

2) The term political/ecology has been suggested as a term to describe the incorporation of political economic issues into the ecological/evolutionary model. True or False?

Explain the factors that affect the firm's total cost, and explain the behaviour of a typical firms costs in the short run and long run. In addition, what determines the behaviour of a typical firm's costs in the short run and long run.

Since both taxes and subsidies create a deadweight loss to society, why are they used to correct negative and positive externalities? Ensure to explain whether society is better off or worse off and why.

How do free competitive markets maximize social welfare? In addition, what are market failures and how do they affect social welfare?