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Given the similarities and differences of three contending theories (Marxism, Neoclassical and Keynesianism) that you have learned in the class, briefly analyze the key factors that contributed the decline of economic systems under Marxism in late 20th century in the countries of Eastern Europe and East Asia. Give specific examples as part of your answers.
Gomez runs a small pottery firm. He hires one helper at $18,000 per year, pays annual rent of $8,000 for his shop, and spends $24,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) t..
Zelda Industries is the only firm of its kind in the world. Due largely to historical accident, it began producing streganomas in 1985 in a vacant warehouse. Virtually anyone with a degree in college chemistry could easily replicate the firm's formul..
The demand for the product of a business is given by q = 50 - 2p. If the price of the product is p = 10 dollars, the revenue is
q1. what are the advantages and disadvantages of austerity?q2. leadbelly co. sells pencils in a perfectly competitive
If the own price elasticity of demand is infinite in absolute value, then: demand is perfectly elastic. the demand curve is vertical. consumers do not respond at all to changes in price. the demand curve is vertical and consumers do not respond at al..
q.your firm is considering the purchase of an old office building with an estimated remaining service life of 25 years.
Horsehead, Massachusetts lies on a bay inhabited by lobsters. The town council issues permits for trapping lobsters and is trying to determine how many permits to issue. Graph the marginal revenue and marginal cost curves for operating a boat. Suppos..
Nick D’Aloisio isn’t your average 17 year old high school student. Instead of spending his summers at the movies or at a minimum wage job, Nick spent the last three summers, at an average of 17 hours per day, writing a program called Summly (formally..
The demand curve for a good is horizontal when it is:
Is education provided by the government a public good? Explain your answer. Are the externalities associated with common resources generally positive or negative? Give an example of common resources. Is the free-market use of common resources general..
Equal Protection Clause The state of Alabama enacted a statute that imposed a tax on premiums earned by insurance companies. The statute imposed a 1 percent tax on domestic insurance companies (i.e., insurance companies that were incorporated in Alab..
In a free floating exchange rate system, if the current account is running a deficit, what are the consequences for the nation’s balance of capital accounts and its overall balance of payment?
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