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The Production Possibilities Model is one of the first Economic Models students learn about. a. Please explain what the mode teaches us. b. Please explain each of the 4 assumptions of the model. c. Please explain Productive Efficiency and how it relates to the ppc. i. Define it and explain how it relates to the ppc. d. Please explain Allocative Efficiency and how the point of AE is found. i. Define it, ii. Discuss the significance of allocative efficiency relative to the model iii. Explain the 2 step process for finding the point of allocative efficiency on the PPC. e. On the topic of Economic growth: i. What does it mean? ii. How can it be graphically represented? iii. What are the prerequisites to Economic growth? iv. Why is Economic growth important? v. What factors tend to limit growth? f. The Presentville – Futureville case: 1. Explain what motivates each group to make decisions. 2. Explain the impact of those decisions on the future of each group. 3. Explain the relevance of this case for the U.S. Economy. 4. What does this case teach you? g. Law of increasing opportunity cost: 1. What does it tell us? 2. How could it be explained graphically? h. Explain how you could use the Production Possibility Model to represent the US Economy during 2008 – 2010.
Graph the Demand facing your situation. Note that this requires information from the Supply Determinant analysis before deciding how to draw the curve(s), as you may need a separate MR curve.
The main argument against monetary policy is that it affects only nominal variables, not real variables. Explain this argument using the two methods below. Explain and show on a graph the short-run and long-run equilibrium changes in the AD/AS model ..
The affordable care act made important changes to the law of government programs and to the law of fraud and abuse. Please explain what changes were made and what programs this involved specifically.
The first cost of a production machine is $75,000. The machine will generate net annual income of $13,275 during its useful life of 10 years. Determine the rate of return of on investment in this machine. Express the answer as an integer. For example..
The emerging markets elected to accumulate vast sums of foreign assets in the 2000s. How did (real) interest rates evolve over this period? How can one explain them using a simple demand-supply model?
In the past year, oil prices have plunged from more than $100/barrel to less than $50/barrel. What impact has this had on OPEC and other oil producing nations? What's the benefit to consumers and manufacturers?
Assume that you borrow $15,000 for five years (annual payments) at a market rate of 5%. Assuming that inflation is 3.5%, what would the equivalent equal annual payment be in constant dollars?
Various executive compensation plans have been employed to motivate managers to make decisions that maximize shareholder wealth. These include:
Describe the characteristics of optimal contracts in principal-agent problems when the agent (manager) is risk neutral.
If $30 can buy a dozen roses in the United States, and purchasing power parity holds, then $30 should also be enough to buy a dozen roses in Turkey—or, more specifically, the Turkish lira equivalent of $30 should be sufficient to buy a dozen roses in..
If a transaction imposes external costs, then: A) too much is being produced relative to the socially optimal amount. B) Production should be increased to generate enough profits to cover those costs. C) all production of the good or service should c..
At the peak of the financial crisis, you had lost 40% of your stock holdings, leaving you with stocks with $10,000. You asked your family for advice on what to do with your money. If you decided to follow your mother’s advice, what is the opportunity..
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