Economics

A survey conducted by the American Federation of Teachers found that the average salary of K-12 (kindergarten through 12th grade) teachers in 2007 in the U.S. was $51,009. The same survey reported that the average annual salary for workers in 23 occupations requiring...

Economics

1.a)Describe three consumption activities that create external costs. b) Describe three production activities that create external benefits. 2 The table below sets out the marginal benefits that Sam and Nick receive from. a town’s street lighting. a) Is the...

Economics

1. Explain the term Open Market Operation. What is its intended effect on the money supply? 2. What is the Money Multiplier? What is its effect on the Money Supply? Explain your answer. 3. Explain the three drivers of the demand for money. What is the relationship...

Economics

1. Suppose that the residents spend all their income on cucumbers, yams, and carrots. In 2005, they buy 100 pounds of cucumbers for $200, 50 pounds of yams for $75, and 500 carrots for $50. In 2006, they buy 75 pounds of cucumbers for $225, 80 pounds of yams for $120,...