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Many of these concepts may be new to you as students. The homework will mostly be definitions or short answer to help you understand the topics.
Define the following terms:
Keynesian Economics
Classical Economics
Explain Block's rationale of why employment is so important.
Explain briefly Reisman's explanation of how socialism is the system for the exploitation of labor. Do you agree or disagree with this and why?
A sum of $16,000per year will be received uniformly over a five-year period beginning two years from today. What is the present value of this deferred- funds flow if interested is compounded continuously at a normal rate of 9%.
How do inflation and unemployment affect the economy in terms of growth (use U.S. as an example)? Conduct research from viable and credible sources such as, and not limited to, economic journals, periodicals, books, databases, and websites. This assi..
What (what circumstances) makes adopting and implementing common macroeconomic policies (monetary, exchange rate) challenging in a Common Market area.
wants to produce 1,000 more garments of clothing, so the economy moves from point A to point B. Illustrate what is the opportunity cost of 1,000 garments of clothing in the range between points A and B.
The Hamilton Flour Company is currently operating its mill six days a week, 24 hours a day on 3 shifts. At current prices, the company could easily obtain a sufficient volume of sales to take the entire output of the seventh day of operation each wee..
Explain with an example how the law may permit something that is ethically wrong. Samuel and his friends form an LLC. Samuel, through an agreement, promises to contribute personal property to the LLC within a year of the LLC's operation. Samuel passe..
Tamiflu, produced by Roche, has so far been the most effective medicine to tackle bird flu. Roche was granted a patent on the drug which enables the pharmaceutical firm to charge higher prices and earn higher profits. Monopoly is inefficient as it ch..
According to the Fisher effect, if the "real" rate of interest in a country is 4 percent and the expected annual inflation is 9 percent, what would the "nominal' interest rate be? A.5 percent B.13 percent C.9 percent D.36 percent E. 2.25 percent
Luis wants to have $2,000,000 in net worth when he retires. to achieve this goal, he plans to invest 10,000 each year (starting one year from now) into an account that earns 10% interest compounded annually. The amount of time before Luis can retire ..
American Girl doll has an inverse demand curve of P = 150 – 0.25Q, where Q measures the quantity of dolls per day and P is the price per doll. The marginal cost is given by MC = 10 + 0.50Q. What is the total surplus at the profit-maximizing output le..
In what specific ways does beckers model of the allocation of time differ from the simple work leisure choice model? Compare the functioning of the income and substitution effects in each of the two models. Do the two effects have the same impact on ..
Unemployment is a more serious economic problem than inflation and it should be the focus of the Fed’s monetary policy.” Evaluate this statement and explain why the Fed’s primary policy goal is price stability.
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