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Should the Government Control the Economy? STEP 1 Research arguments for and against one of these topic questions: Should government raise the minimum wage? or Should government set the price of gasoline? Virtual Library (Links to an external site.) for help with your research. You are searching for arguments for and against one of these topics. Be sure to note your sources of information. STEP 2 Create a graph to show the effect (shortage or surplus) of the government regulation you chose. Discuss why these issues do or do not affect your opinion. Include the appropriate labels for your graph such as: price quantity supply demand surplus or shortage You may use the example provided for you in the lesson. STEP 3 Write a persuasive essay or blog entry to address your topic. Use a minimum of 400 words. State your opinion clearly with details from reliable sources. Be sure to include: Your opinion on the topic question Three strong arguments that support your opinion At least one argument that opposes your opinion, and how you challenge it Economic terms from the lesson such as price controls, equilibrium price, shortage, and surplus You may use the example provided for you in the lesson. STEP 4 Create a reference section that includes links to your sources. Be sure to include your sources in MLA format. Create a reference section that includes links to your sources. Be sure to include your sources in MLA format (Links to an external site.).
Draw a Phillips Curve. Explain why economists claimed that the Phillips Curve represented a menu of social choice. Do economists still believe in the menu view of the Phillips Curve? What view has replaced the original view?
What are the four market types? Give an illustration of each. From a social standpoint, what is the problem with monopoly? Discuss this using an example for illustration.
What is the probability that more than 200 cars will require service work in a particular month? What is the probability that fewer than 175 cars will need service work in a given month?
Phillip, the proprietor of a vineyard, estimates that the first 9700 bottles of wine produced this season will fetch a profit of $4 per bottle. However, the profit from each bottle beyond 9700 drops by $0.0003 for each additional bottle sold. Assumin..
In order to boost funding for the state of Florida or Mississippi, depending on where you are, each state has decided to start a daily drawing where people can purchase a ticket for $1 with a 3-digit number from 000-999. If the number on the ticket m..
A manufacturer of small plastic injection molded parts (caps, closures, fitments and pipettes) was experiencing static electricity problems during various steps in their molding and handling operations. The static caused the plastic parts to cling to..
John and Deanna are married with two children. Both adults have college degrees, but Deanna has chosen not to enter the labor force, while John has worked continuously for 10 years. Suppose Deanna decides to enter the labor force and gets a job with ..
q. imagine a society that produces military goods and consumer goods which well call guns and butter.a. draw a
Suppose that an economy has the Phillips curve. What is the natural rate of unemployment? Graph the short-run and long-run relationships between inflation and unemployment.
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?
Explain how do you think higher demand has affected equilibrium wage. In which direction do you think labour supply and demand shifted.
Mutual funds are run by managers who try to pick stocks and charge management fees are examples of active investment. Similarly, mutual funds that mimic a broad stock market index, or index funds, are examples of passive investment. Which of the stat..
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