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What responsibility do we have as a society to help the elderly and disabled? What potential changes could the federal government enact to help the viability of both programs? How can the Social Security program be fixed to ensure a viable future for everyone? Please research regarding the Social Security/Medicare crisis. Give specific details on the changes that have been proposed and are viable.
According to Jared Diamond, what are the “roots of inequality” in the division of the world into ‘haves’ and ‘have-nots? What role has “the roots of inequality” played in the division of the world into ‘haves’ and ‘have-nots’ within today’s globaliza..
Suppose that Ian and Mike are cottagers on opposite sides of a small lake. Ian values electricity at his cottage at $500 and Mike at $700, but in order to get electricity for their properties a trunk line costing $1000 must be built. If they are unab..
Prove that inferior goods (goods with a negative income effect) have a backward bending income consumption curve. Prove that giffen goods have a positively sloped demand curve and a backward bending price consumption curve. Comment about substitution..
Al owns a shoe factory with noisy machines which disturb his neighbor Bob. What is the efficient outcome – for the factory to shut down, to run silently, or to run noisily? Suppose Bob was granted an injunction to stop the factory from making noise.
If the rr is equal to 5%, what is the value of the money multiplier (simple deposit multiplier)? If $30,000 in cash is taken from under your mattress and deposited into a bank, predict the impact on the money supply in the economy.
Analyze the current macro economic situation and discuss changes in economic, financial and international conditions in the near future.
the mainstream theory of the business cycle, is the most common source of reciession: a decrease in aggregate demand, a decrease in aggregate supply, or both.
determine the amount at time 0(now) equivalent to the cost of owning and operating the machine for the next five year period. It is anticipated that the machine can be sold for $1000 at the end of the five year period. Use an interest rate of 10%.
A monopolist with a straight-line demand curve finds that it can sell two units at $12 each or 12 units at $2 each. Its marginal cost is constant at $3 per unit. Given the demand curve, draw the MR, and MC curves for this monopolist.
Consider the following production function f(k,l) = k^1/3 + l^1/3. Suppose the government taxes labor at by an amount t per unit of labor. Rewrite the long run cost function including the tax.
Suppose firms compete in quantities. How much does each firm sell in Cournot equilibrium.
If you were responsible for setting the NAAQS for lead, what key determinants would you consider if the standard were established to meet the efficiency criterion. Be sure to itemize separately the benefits and costs associated with your decision.
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