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Robert Heilbroner argues that economics has lost its way because economists have become preoccupied with economics as science rather than seeing economics as the study of capitalism. Explain what he means by this. Should one agree or disagree? Provide at least two examples to support reasoning,
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?
In the movie Peter says: “It’s not that I am lazy. It is that I just don’t care…The problem is one of motivation.” What kind of problem is depicted in the movie? Is it one of moral hazard or adverse selection? Explain.
What happens to hours of work when non-labor income decreases? Does such a non-labor income change generate a substitution effect? Why might we expect welfare programs create work disincentives? What happens to the probability that a particular perso..
What do we call financial institutions through which savers can indirectly provide funds to borrowers?
Explain also by using graphs welfare off policy measures on consumer and producer surplus and net gain or loss to society.
The inverse demand for a monopoly's product is P=92-5Q, where Q=Q1+Q2. The marginal cost of producing in the two plants is MC1=2Q1 and MC2=6Q2. How much output should be produced in each plant? What is the firm's profit maximizing price?
How could union members' current annual incomes decline on net even if a long-lived strike induces a firm's management to increase the hourly wage rate? Sometimes union memberships coordinate work stoppages when all workers call in sick. From an econ..
Success and Luck, Robert Frank discusses the luck necessary to be successful and the impact of winner-take-all markets. How do winner-take-all markets exacerbate the effects of luck in the distribution of income to successful individuals?
q1. old economy traders opened an account to short sell 1300 shares of internet dreams at 46 per share. the initial
A local newspaper headline? blared, "Bo Smith Signed for? $30 Million." A reading of the article revealed that on April? 1, 2014, Bo? Smith, the former? record-breaking running back from Football? University, signed a? $30 million package with the Da..
Provide examples of different tools businesses use to identify the elasticity of their different customers. Also elucidate how the financial aid department determines student elasticity.
How could the discount rate and the rate of interest paid on excess reserves (IOER) theoretically be used by the Fed to create a “ceiling” and “?oor” for the Fed funds rate?
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