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Is the government as efficient as the private sector in delivering services? Why? Why not? The new health program (Obamacare) has a number of problems. Will the new health care program be affected adversely?
The economic analysis of legal concepts, such as property law, contracts, torts, the legal process, crime, and punishment. The focus of much of the material is using the scientific theory of economics to predict the effect of various policies on ..
When using creativity to generate new concepts, should our focus primarily be directed to external markets? Why, or why not? Defend your answer and offer a specific example to support it.
In the following situation, the market is initially in equilibrium. After each event described below, does a surplus or a shortage exist at the original equilibrium price? What will happen to equilibrium price as a result? Draw your answer in GRAPH F..
To pay off $60,000,000 worth of new construction bonds when they come due in 19 years, a water municipality must deposit money into a sinking fund. Payments to the fund will be made quarterly, starting 3 months from now. If the interest rate for the ..
The global movement toward generally freer trade
What role does rational self-interest play in economic analysis?
In the field of financial management it has been obseved that there is a trade-off between the rate of return that one earns on investments and the amount of risk that one must bear to earn that return. Draw a set of indifference curves between risk ..
Explain how could you estimate the net welfare loss (deadweight loss) from such a diagram. What response to such a policy would you expect from industries (like automobile producers) that use U.S. steel.
We’ve seen that monopolistically competitive firms will try to differentiate their products in order to eliminate substitutes. Are there comparable measures that can be taken in labor markets to decrease the number of “substitutes” for some types of ..
'The Theory of Individual Behavior', and much of the chapter is devoted to the use of indifference analysis to build a framework for demand theory. Indifference analysis goes to great lengths to explain consumer behavior and how consumers make choice..
Suppose the U.S. and Mexico both produce 2 goods, tablets and cereal, using 2 inputs, capital (K) and labor (L). The production of tablets is capital-intensive, and that of cereal is labor-intensive. The U.S. is a capital-abundant country, and Mexico..
Do you think there are lessons for American capitalism in Europe’s experience? Is it the other way around? Might both have things to learn? Do you think that the general acceptance of the market framework by Europe’s socialist parties signals an end ..
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