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1. If a political candidate said that if she were elected to Congress, she would work toward cutting federal government spending by one-third over the next four years, would she stand much chance of fulfilling her promise? Why or why not?
2. Discuss the pros and cons of having a high cigarette excise tax.
3. What additional goods and services do we expect from government today as opposed to 60 years ago?
Describe the elements of the fraud triangle
Suppose that the representative consumer's preferences change, in that his or her marginal rate of substitution of leisure for consumption increases for any quantities of consumption and leisure. Explain what this change in preferences means in more ..
If domestic investment in an economy is smaller than the economy's private domestic savings
What is the probability that a single service call takes between 50 and 70 minutes? The probability is 0.025 that a single service call takes more than how many minutes?
Conspicuous consumption refers to:
Identify the Burnham or Sullivan inspired elements of what you are writing about. What are some of the details that we've talked about in class that you see while we are out in the field
Is free trade always a good policy? Using Paul krugman's "is free trade passé?" And bhagwati's paper on labor and environmental standards, comment on the status of US free trade policy. Make sure to add your opinion on NAFTA. In what ways can nafta h..
About one out of every ten dollars of federal government spending goes toward interest on the national debt. Over one out of every three dollars of federal tax revenue comes from social insurance receipts. The most important source of local tax reven..
Does this event increase or decrease demand and/or supply? How does this change in demand and/or supply affect the equilibrium prices and quantity in the market? In other words, do they increase or decrease? Find the new equilibrium and compare it wi..
Suppose Alan’s preferences are described by the utility function: Find Alan’s MRS. Find the equation for Alan’s indifference curve through the bundle (3, 6).
Assume which the market for avocados is perfectly competitive. The typical agribusiness firm is earning positive economic profit in the short-run equilibrium.
Potato farming (like farming of most agricultural products) is highly competitive. Price is determined by demand and supply. Based on U.S. Find the competitive market price and output. Potato farmers in Montana raise about 7 percent of total output. ..
A presidential candidate has decided to enter primaries in those states in which at least 20% of voters support her. Random samples of 200 voters were taken in each of a number of states. In New Hampshire, 33 voters supported the candidate. Test at a..
Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit prices are $10 and $4. Assume also that the marginal physical product of the last unit of capital is 30 and the marginal physical product of the last un..
Economists argue that successful business depends on creating sustainable and effective supply and demand networks. If you own (manage) a business, how do you create effective deamnd and effective supply to maximize profit?
Suppose there is an increase in the population growth rate. A. Show graphically how this affects the growth rate of both output per capita and total output in the short and long run.
The market is in long-run equilibrium. What market structure best describes the pizza market in this town? Explain. What is average variable cost at this output level for each of the four shops? Explain how you derived this result.
A British made automobile is priced at 20, 000 British Pounds. A comparable U.S. - made car costs US$26 000. One pound trades for US$2 in the foreign exchange market. Which country's cars are more competitively priced?
Two canadian workers, Dan and Nikki, can each produce stoves of apples. Dan can produce either 140 pounds of apples or 1 stove per month. Nikki can produce either 80 pounds of apples or 1 per month. what is the most of each good that canadians can co..
You must summarize the criminal conduct, identify offense by name and type (i.e., mass murder, a crime of violence, stranger to stranger), then discuss the following questions as outlined below. Discuss the crimes they committed, the reason(s) provid..
What is the difference between customer satisfaction and customer loyalty? Why is it important to distinguish between these two concepts?
Think of a business firm you recently visited (such as Walmart, Home Depot, Red Lobster, Barnes & Noble, McDonald’s, etc.). What motivated the producers of all the individual products in the store to make them and offer them for sale?
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