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Many economists have attempted to create a set of social accounts that would come closer to measuring the economic well-being of the society than does GDP. What modifications of the current approach would you recommend to them?
Describe the options at the disposal of the government to finance a fiscal deficit. What are the relative advantages and disadvantages of each option?
What are the four market types? Give an illustration of each. From a social standpoint, what is the problem with monopoly? Discuss this using an example for illustration.
Discuss the factors that cause the average income of nonwhites to be lower than the average income of whites. Explain how welfare creates work disincentives. Explain the changes in welfare caused by the "Personal Responsibility and Work Reconciliatio..
Add the missing part (premise or conclusion) to make the following arguments valid. But don’t make them circular; make the conclusion follow from both premises but not just from one premise by itself. Use a Venn diagram. Every citizen with voting pri..
Economic growth rates vary greatly from country to country. Look at the experiences of the United States, Japan, Ethiopia, and China over the last twenty years. Find the average growth rate for each country over that period. What are some of the diff..
q. a firm in a purely competitive business is currently producing a 1000 unitday at a total cost of 450. if the firm
The government announces that it will privatize the main bank in the country through the stock exchange.
Potato farming (like farming of most agricultural products) is highly competitive. Price is determined by demand and supply. Based on U.S. Department of Agriculture statistics, U.S. demand for potatoes is estimated to be QD = 184 - 20P, where P is th..
q. suppose that at the equilibrium price and quantity the marginal revenue is -15 and the price elasticity of demand
Economics has a notoriously bad reputation among students. They assume it will be dry, boring, and not relevant to their lives. They also think it's hard because the course content must be understood rather than memorized. Why do you think economics ..
Calculate GNP, GDP, and aggregate income. GDP = $ GNP = $ Aggregate income = $ b) What is depreciation in this year? Depreciation = $ c) What is NDP? NDP = $
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