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Homework
1. Well through the mid 1700's most colonists were happy to be subjects of the British Empire. Yet by the 1770's the British North American colonies were moving towards rebellion. Why were the British unable to retain the colonists' loyalty in the period leading up to the Revolutionary War? Trace and discuss the ways in which the British lost their American colonies.
2. Explain and discuss what you might describe as radical elements in the Declaration of Independence. Do you believe the Revolution was radical or conservative, and why?
3. What issues led to the war between Britain and the United States in 1812? How did each issue contribute to the outbreak of war? Finally, why do some historians refer to the War of 1812 as the "second war for American Independence?" What events after the war give proof that this war for independence was successful?
4. Trace the development of political parties in the U.S. from Washington's to Jefferson's election.
The demand for good x is Qx = 10,000 - 4Px + 5Py + 2M + A, where Px is the price of x, Py is the price of good y, M is income and A is the amount of advertising spent on x.
Consider a hypothetical economy in which each worker has to decide whether to acquire education and become a high-skilled worker or remain low-skilled. Education carries a cost of C. Explain why this is like a coordination problem. What is the comp..
Illustrate what relative amounts of capital and labor will be employed to maximize output.
How may you apply what you learned about supply and demand from the simulation to your workplace or your understanding of a real-world product with which you are familiar?
Illustrate what school of thought would make this suggestion, and how do economists of that school justify that prescription.
Given the products below and the events that affect them, indicate what happens to demand or supply, and the equilibrium price and quantity in a competitive market. Identify the determinant of demand or supply that causes the shift.
Vulnerability Analysis
Assume you do not think that the statement does have any credibility. Illustrate what is the expected impact of the resulting policy on your business.
1) Discuss the importance of the market for loanable funds and the market for foreign-currency exchange to the achievement of the strategic plan. 2) Discuss how government policies can influence economic growth.
A decision maker wishe to minimize the cost of producing a given level of total benefit, B = 288. The cost function is C = 6x + 3y and the total benefit is B = xy. Set up the Lagrangian adn then determine the levels of x and y at the minimum level of..
Monetary and fiscal policies are said to have“lags.” What are lags and why do they exist? How arethe arguments for and against active policy decisions affected bythese lags?
The economy of the country of Upland is still recovering from a severe recession and still has an unemployment rate close to 9%. Assume that the government's only concern is to achieve full employment. 1. What type of fiscal policy would you rec..
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