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Would the balanced-growth path of output per worker for the economy shift upward, shift downward, or remain the same if capital were to become more durable (i.e., if the rate of depreciation on capital were to fall?)
The size of the market will help determine which of the following factors:
The government modifies the consumption tax somewhat so that the first $20k of consumption in each period is tax free. Now graph the budget constraint.
When gasoline prices spike, producers consider using oil fields that once had been passed over because of the high costs of extracting oil. In a figure, show what this statement implies about the shape of the oil extraction cost function.
How are the different dimensions of globalization - economic, political, cultural, ecological - connected?
If the stock price rises, the price of a call option on the stock ________ and that of a put option _________ . (Why?)
A consumer has preferences u(x) = 2x 1 2 1 + x2. The price of good 1 is p1 > 0 and the price of good 2 is 1. You may restrict your attention to interior solutions throughout. Explain whether these preferences are i) monotonic, ii) quasilinear, iii) e..
Which one of the following is an example of passive policy? making?
According to Marx, what is the basis of all history? What two hostile group have competed in recent history? What are the characteristics of the bourgeoisie in their dominance of history? How does Marx define a class? How does he define the proletar..
Describe the current global economic conditions and their effect on local macroeconomic indicators for your good or service - Describe the local economy's stage in the business cycle.
Distinguish between comparative advantage and competitive advantage (may take some research on your part). Which is used by economists as a justification for international trade? Why?
Who was responsible for the global financial crisis of 2007-2009? Free-Market capitalism, government intervention, or a combination of both? Identify the causes of the crisis, the steps the private and public sector took to resolve it, and what leade..
Suppose the production function for coffee (C) is C = min(B,W) where B = beans in pounds and W = water in gallons and the price of water is $.10 per gallon and the price of beans is $10 per pound. The expansion path is
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