The IS curve shows the combinations of the real interest rate and the aggregate output that represent equilibrium in the market for goods and services. The MP curve represents Federal Reserve monetary policy. For each of the following, evaluate how the IS curve and MP curve might be affected (if at all):

• A decrease in financial frictions.
• An autonomous easing of monetary policy.
• An increase in the current inflation rate.
• Firms become more optimistic about the future of the economy.
• The new Federal Reserve chair begins to care more about fighting inflation.

The government has decided to give universal basic income(UBI) of some amount to all citizens from now on and forever. What will happen to the economy in terms of money supply, price level, nominal and real interest rates, real GDP, unemployment, AD, and AS?

According to the economic life cycle theory, since people can borrow when they are young, on what would a person's standard of living depend?

Select one:

a. aggregate income rather than annual personal income

b. income averaged across seasons rather than across years

c. lifetime income rather than annual income

d. annual extended family income rather than annual personal income

What problem in measuring inequality does the fact that the young often borrow and then repay these loans when they are older relate to?

Select one:

a. economic mobility

b. the economic life cycle

c. transitory versus permanent income

d. in-kind transfers

Which statement best summarizes the idea of cutting income tax rates increase tax revenue?

Select one:

a. This argument is valid for all countries that have income taxes.

b. This argument is valid for most other countries but not the United States.

c. The argument is valid for any country that has very high marginal tax rates.

d. This argument is only valid for the United States but not for most other countries.

An asset for drilling was purchased and placed in service by a petroleum production company. Its cost basis is $144700, and it has an estimated market value of $29360 at the end of an estimated useful life of 7 years.

a) Compute the depreciation payments using SL (straight line) method.
b) Use DDB (Double declining balance) method and calculate the depreciation payments. (If it is necessary switch to SL)

excel plz!

Intermediate microeconomic (400 words) need more explanation

How do minimum wages affect employment, and unemployment? In a competitive labor market, the demand for workers is given as QD=10,000-100W, and the supply of workers is given as QS=2,000+1,900W, where Q is the quantity
of workers employed and W is the hourly wage. What is the initial equilibrium wage and employment level? Suppose that the government decides that $5 per hour is the minimum allowable wage in any market. How would this new minimum wage alter this market? What would the new employment level be? What would happen to total payments to labor? Would there be any excess supply of labor?

1. Market demand and supply for a commodity are given by the following equations:

Demand: X = 30 – (1/3) P Supply: X = -2.5 + (1/2) P where X= quantity (units), and P=price per unit ($)

Suppose that the government is planning to impose a tax on this commodity and considering the following two options:

Option 1: A unit tax of $15

Option 2: An ad valorem tax of 20%

1. a) Find the tax incidence on buyers and producers, and the tax revenue of the government under each the two options (4 marks)

1. b) Compare the two options in terms of their welfare costs (2 marks)

Governments artificially keep minimum wage above equilibrium, and in some cases, keep rent payments below the market equilibrium. What are the ramifications of a too high minimum wage and a too low rent payment? Provide examples of the pros and cons of each scenario.  

2. a) Suppose that the government plans to impose a tax on labour employed as an input in agriculture. Consider agriculture as a highly labour-intensive sector and discuss the possible effects of the tax, using the general equilibrium framework.

   b) Suppose that the government of your province has decided to provide a housing subsidy for low-income families of the province to raise their standard of living. The government has also decided to impose an income tax on workers (employees) to generate funds for the subsidy. Analyze the welfare effects of this decision. What are the suggestions you can make to minimize any negative welfare costs?

The environmental degradation of natural resources is much more prevalent in countries with a long history of communist rule. Using your understanding of common resources explain this phenomenon.

Econ 3030- Economics and Sports

1) In your view, which concept of competitive balance is most meaningful, and why?

What are the short-term and long-term impacts of BREXIT. Should a firm relocate from the United Kingdom to another country?  

Use examples where appropriate. (broad question)