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Conduct some research on the future of the Social Security programs. Based on your research, describe your view of the Social Security programs (e.g., whether they are necessary, their viability, or whether there should be changes in how the programs are funded). How has this research influenced your views?
A person is using the normal distribution to determine the safety stock for a product. What "z" value would be associated with a 90 percent service level? Suppose that lead-time demand is normally distributed with a mean of 100 units and a standard d..
Consider a perfectly competitive market for a product X that is in its long run equilibrium. Suppose that this is an inferior good, and that consumer's income increases and the increase is expected to be permanent. Assuming that the prices of the inp..
Do not try to explain people's tastes, but they do try to explain what happens when tastes change.
Assume a firm both sells its products and purchases its resources in purely competitive markets. Under the above assumption, state the criterion (necessary and sufficient condition) for a firm to employ its resources in such a manner as to minimize i..
State whether the following production functions exhibit increasing, constant, or decreasing returns to scale in K and L.
what quantity would they choose? If the oligopolists do not act together but instead make production decisions individually.
Using an indifference curve mapping, derive a compensated demand curve. When considering the welfare implications of a price change, why should an economist technically measure consumer surplus as the area under the compensating demand curve, rather ..
Suppose that an irish sweepstakes winner deposits $10 million in cash into her transactions account at the bank of America. Assume a reserve requirement of 20 percent and no excess reserves in the banking system prior to this deposit. Show the change..
What is grouping ambiguity? If a claim is made by a disinterested party, we know that. What is the meaning of the rhetorical device called a stereotype?
In 2009, it was estimated that the total value of all corn production subsidies in the United States totaled about $4 billion. The population of the United States was approximately 300 million people that year. On average, how much did corn subsidies..
Derive the long-run average cost and marginal cost equations, and plot them on a graph. At what level of output does average cost reach its low point?
Productivity is the major driver of economic growth in the United States, accounting for about half of the increase in real GDP over time. Between 1996 and 2001, productivity showed no trend and averaged about 2.7 percent. In 2002, productivity incre..
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