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Argue for or against Common Law’s respect for precedent. HINT: Reference the efficiency tradeoff between precedent’s benefit of reducing uncertainty for future litigants and precedent’s drawback of tieing the hands of judges in future cases.
A mineral rights auction is not the same as a common-value auction. An auctioneer is always indifferent between different kinds of auctions. The Dutch and first-price, sealed-bid auctions are strategically equivalent. An English auction always yields..
The production possibilities curves above show all the possible combinations of helicopters and scooters that two towns, Millerville and Jamestown, can create using equal amounts of resources.
The law of comparative advantage recommends that countries specialize in those products in which they have a comparative advantage, not an absolute advantage.
The 1990s saw high growth with low inflation. Give a possible explanation that would result in higher equilibrium output with a lower equilibrium price level on an AS-AD graph.
Assume to latest discoveries in biochemistry significantly lengthen our life expectancy. Illustrate what is the impact on the educational attainment of workers
What are some methods for improving the financing of the U.S. health care system. Are these methods realistic and achievable? Justify your answer with solid reasoning and appropriate references.
Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Who has the comparative advantage in the production of shirts? What about for computers?
Why is that the pre-trade production points have a bearing on comparative costs under increasing cost conditions but not under conditions of constant costs?
How does building on undeveloped land differ from building on developed land from an economic standpoint? Discuss the land assemblage problem as it relates to urban renewal. List and discuss possible contradictions between the goals of urban renewal ..
Suppose that cigarette smokers create a negative externality. Further suppose that the government imposes a tax on cigarettes equal to the per-unit externality. What is the relationship between the after-tax equilibrium quantity and the socially opti..
On Friday, August 5, 2011, the rating agency Standard and Poor's downgraded the U.S, from AAA to AA+. However, the other major rating agencies -- Moody's and Fitch -- retained the AAA status for the U.S.
Suppose the U.S. economy finds itself in a recession after a recent financial crisis and series of unfortunate international events. If the government wants to stabilize the economy by employing fiscal policy, which of the following policy combinatio..
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