______ occur when newly raised hopes for a better life either are not satisfied at all or are not satisfied as rapidlyas people expect them to be.
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______ occur when newly raised hopes for a better life either are not satisfied at all or are not satisfied as rapidly
as people expect them to be.
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- The market research department at a manufacturing plant determines that 30% of the people who purchase the plant's product during any month will not purchase it the next month. On the other hand, 40% of the people who do not purchase the product during any month will purchase it the next month. In a population of 1000 people, 200 people purchased the product this month. How many will purchase the product next month and in 2 months? (a) next month___?___ people (b) in 2 months __?___ peopleexplain whether the given statement is true, false or uncertain. Then provide arguments to justify your selection. Janet, a mother of two, decides to reduce her working hours to spend more time with her children. By itself, assuming everything else being the same, this development has necessarily resulted in a lower quality of life for Janet due to a fall in income (and resultant fall in economic activity as measured by GDP).Q1) Peter lives for three periods. He is currently considering three alternative education-work options. He can start working immediately, earning $100,000 in period 1, $110,000 in period 2 (as his work experience leads to higher productivity), and $90,000 in period 3 (as his skills become obsolete and physical abilities deteriorate). Alternatively, he can spend $50,000 to attend college in period 1 and then earn $180,000 in periods 2 and 3. Finally, he can receive a doctorate degree in period 2 after completing his college education in period 1. This last option will cost him nothing when he is attending graduate school in the second period as his expenses on tuition and books will be covered by a research assistantship. After receiving his doctorate, he will become a professor in a business school and earn $400,000 in period 3. Peter’s discount rate is 20 percent per period. What education path maximizes Peter’s net present value of his lifetime earnings? Q2) (a) Is the presence of…
- Consider a model of revolutions. Society is made up of N > 1 people. Simultaneously, each person chooses whether or not to participate. If n people participate, the probability the revolution succeeds is n/N. If the revolution succeeds, each member of society receives the benefits of a public good worth B. In addition, each person who participated in the revolution receives a benefit R if the revolution succeeds. (This extra benefit called a club good, might represent special access to government jobs for people who helped unseat the government once the new government is formed, or it might just represent an expressive benefit of participating in a victorious revolution.) The cost of participating is c > 0. Assume that R > cand that B + R < N × c. a. Suppose a player believes n other people will participate. What is her expected utility from participating? b. Suppose a player believes n other people will participate. What is her expected utility from not participating? (c)…Consider a model of revolutions. Society is made up of N > 1 people. Simultaneously, each person chooses whether or not to participate. If n people participate, the probability the revolution succeeds is n/N. If the revolution succeeds, each member of society receives the benefits of a public good worth B. In addition, each person who participated in the revolution receives a benefit R if the revolution succeeds. (This extra benefit called a club good, might represent special access to government jobs for people who helped unseat the government once the new government is formed, or it might just represent an expressive benefit of participating in a victorious revolution.) The cost of participating is c > 0. Assume that R > c and that B + R < N × c. (a) Write down a player’s best response correspondence. (b) Identify all of the pure strategy Nash equilibria of this game. (c) Calculate the utilitarian payoff associated with each equilibrium. (d) Does this game…Suppose that the current (first) generation consists of 1 million people, half of whom are women. Assume the total fertility rate is 1.2 and the only way people die is of old age. Instructions: In part a, enter your answer as a whole number. In parts b and c, round your answers to 2 decimal places. a. How big will the fourth generation (the great-grandchildren) be? ___ people b. How much smaller (in percentage terms) is each generation than the previous generation? ___ percent c. How much smaller (in percentage terms) is the fourth generation than the first generation? ___ percent
- 1. Social Security Checks on the Rise. The US government announced on October 14, 2020 that Social Security checks for all US seniors will rise by 5.8% in 2022, the largest increase since 2008. This cost of living adjustment (COLA) is based on the Consumer Price Index measure of inflation in 2021. a). Show with a graph and a model how, the full 5.8% increase will actually make a representative senior better off in 2022 as compared to 2021. 2. If lifespan projections are roughly correct, it is expected that our 52 million current seniors over age 65 is expected to rise by 60% over the next 25 years to about 80 million seniors. Medicaid, Medicare and Social Security are currently 12% of GDP, but expected to rise to 17% of GDP by year 2044. b). Could this enormous increase in spending on seniors have an effect on either US market efficiency or productivity in as we move toward the year 2044?Suppose that the current (fifi rst) generation consists of 1 million people, half of whom are women. If the total fertility rate is 1.3 and the only way people die is of old age, how big will the fourth generation (the great-grandchildren) be? How much smaller (in percentage terms) is each generation than the previous generation? How much smaller (in percentage terms) is the fourth generation than the fifirst generation? Are you surprised by how quickly the population declines?solve this early with short explanation correctly
- Do number 4An economist predicts that the buying power B(x) of a dollar x years from now will decrease according to formula B(x) =0.94x. How much will today's dollar be worth in 5 years? Round the answer to the nearest cent.Scenario: It is the year 2035, and many people in the United States are very happy with the state of the economy. Real GDP has risen steadily over the past year, unemployment is low, and workers are confident they will continue to be employed. People are buying homes, refrigerators, cars, and everyday goods. Inflation is rising though, and people are concerned that prices may be rising faster than their incomes. Nonetheless, the stock market is rising and people remain confident. Which of the following types of policies should the government employ to address the scenario above, and why? Expansionary economic policy because the economy needs to be sped up. Contractionary economic policy because the economy needs to be sped up. Expansionary economic policy because the economy needs to be slowed down. Contractionary economic policy because the economy needs to be slowed down.