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1. What is meant by technological advance, as broadly defined? How does technological advance enter into the definition of the very long run? Which of the following are examples of technological advance, and which are not: an improved production process; entry of a firm into a profitable purely competitive industry; the imitation of a new production process by another firm; an increase in a firm's advertising expenditures?
2. Learning how to use software takes time. So once customers have learned to use a particular software package, it is easier to sell them software upgrades than to convince them to switch to new software. What implications does this have for expected rates of return on R&D spending for software firms developing upgrades versus those developing imitative products?
3. Why might a firm making a large economic profit from its existing product employ a fast-second strategy in relationship to new or improved products? What risks does it run in pursuing this strategy? What incentive does a firm have to engage in R&D when rivals can imitate its new products?
Monetary theorists maintain that to eliminate the business cycle, it is necessary to eliminate,Through 2005, the most serious U.S. trough since the Great Depression was the one that occurred in,According to monetary theories of the business cycle, fl..
Determine the top 5-exports and imports from Japan and what is the computation of last month's United States trade surplus, deficit, or balance with Japan?
Business if it was done by trade associations, certifications, and professional societies.
Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.
What is the point estimate of the population proportion? b. What is the point estimate of the population variance? c. Write a 95% confidence interval for the population proportion (? = .05).d. Will the bond proposal be approved with a 95% confidence?..
Suppose that the domestic demand and supply for hats in a small open economy are given by-Where Q denotes quantity and P denotes price.
Suppose that over a range of prices, the price elasticity of demand varies from 15.0 to 2.5. Over another range of prices, the price elasticity of demand varies from 1.5 to 0.75. What can you say about total revenue and the total revenue curve
Local government in a west Coast college town is concerned about recent explosion in apartment rental rates for students and other low income renters.
Brand names can be important to the success of a firm in some industries. Consider industries that demonstrate monopoly, monopolistic competition, oligopoly, and perfect competition. What is the goal of creating a brand name for each of these mark..
Allied Box offers mail order storage containers for fine china producers. The firm is low-cost provider of these boxes with fixed cost of $480,000 per year,
"Fewer and fewer Americans support our government's trade policy. They see a shrinking middle class, lost jobs and exploding trade deficits. Yet supporters of free trade continue to push for more of the same - more job-killing trade agreements."
Because the structure of the personal income tax is progressive, a larger share of income is taxed at higher rates as real income increases. Therefore, economic growth automatically results in higher taxes unless offsetting legislative action is d..
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