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Consider the economies of Hermes and Gribinez,both of which produced gaggles of gop using only tools and workers.Suppose that,over the course of 50 years,the level of physical capital per worker rises by one tool per worker in each economy,but the size of the labor force remains the same.
Is it not ethical to use employee as a puppet to make money with out their consent? What are your thoughts on Adam Smith's principle of the Invisible Hand?
Use aggregate demand (AD) and aggregate supply (AS) model in which the short run aggregate supply curve slopes upwards to illustrate the equilibrium level of real GDP and prices if the economy is operating:
Groups need to choose a topic from the list of topics provided by the lecturer and write an essay on the chosen topic. (This list is placed under additional readings on your BB)
Evaluate the range of marginal revenues
Assume that, in a perfectly competitive market at the profit maximizing quantity, the market price is greater than average total cost.
Explain the impact of time on the elasticity of market supply and discuss the role of profits and losses in a purely competitive market.
Explain why do we have such extreme diversity in pay in the US-port stars, actors, others making very high salaries while others make much less.
Assume you are an aid to a government official deciding on some recently proposed excise tax on the welfare of her constituents.
Analyze the contribution that automatic stabilizers play in making a stable economy. Provide some examples of the automatic stabilizers and use them to illustrate their significance.
Describe why a reduce in aggregate demand results in a lower level of employment, given a fixed aggregate supply.
Expalin how can inflation derail the economy from its growth path.
Plato, a Greek philosopher who lived from 427BC to 347BC, famously wrote that, "Necessity is the mother of inventions."you agree with this statement.
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