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Congressman Localstuff always votes for a balanced budget amendment to the U.S. Constitution. He also always votes for spending bills supported by the leadership of his political party. Is this rational?
What is the difference between the real interest rate and the nominal interest rate? How would not knowing the difference effect perceptions of the economy and affect people's decisions?
The dating service's owner said that the difference in price compensated for inequities in pay scales between men and women. Which of the following statements below is an alternative explanation that an economist would look for.
Now suppose the same game is played with the exception that Player A moves first and Player B moves second. Using the backward induction method discussed in the online class notes, what will be the outcome of the game
If a nation can make a product efficiently but there is no domestic market for that product, how can that country increas through producing that item? Discuss the determinatives of demand and supply of a product.
Campbell's sells used trailers, U, and new trailers, N. Its profits are given through Õ = 100N + 68U - 5N2 - 5U2 - 2NU. Determine Campbell's maximum profit is
In a few weeks Professor Smith will be taking his daughter Attilla to the State Fair. Calculate the Marginal Rate of Substitution (MRS).
Briefly explain in words the sequence of changes that occur as the two economies move from no trade to free trade.
Assume that, over time, engineers develop new residential furnaces that can run on different tpes of fuels, e.g., natural gas, electricity, propane, and fuel oil, simply by flipping a switch on the furnace.
Illustrate what appears to be the major constraint that the central banks used to determine the limits of the monetary injections into the economy.
What is price elasticity? How does Moore's Law relate to this concept? What is sepcial about falling chip price?
A survey show an increase in drug use by young people. In the ensuing debate, two hypotheses are proposed: Reduced police efforts have increased the availability of drugs on the street. Cutbacks in educationefforts have decreased awareness of the dan..
The table above demonstrate the prices and quantities of 2-goods produced in a country in 2006 and 2007. These are the only goods produced in the country.
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