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"Which government is right for you?" Perhaps a better way of saying it is this: would you like a caretaker type of government who looks out for you or would you like a hands-off type of government that basically let's you make your own decisions? For each type there are ramifications.
The steady state of the Solow growth model with exogenous technological progress and Cobb-Douoglas technology predicts that the real rental rate (ie: the price) of capital will not exhibit long run growth if the capital input market clearing conditio..
Jim’s diner is just about to open in Memphis, Tennessee. However, Jim is trying to decide whether he wants to offer Coke or Pepsi soda products. Recently, the owner of a Trader Joe’s franchise decided to change how she compensated her top manager. La..
Describe the prevailing arguments of what constitutes a "just war," and assess the justice of the Vietnam War in that context. Speculate on how the world would be different today if the U.S. had not become involved in Vietnam.
Suppose we investigate a particular example of a model with no government. Suppose the consumption function is given by C=100+.8Y, whereas investment is given by I=50. What is the equilibrium level of income in this case? What is the level of saving ..
Consider a competitive industry with several firms all of which have the same cost function, c(y) = y2 + 4 for y > 0 and c(0) = 0. The demand curve for this industry is D(p) = 50 − p, where p is the price. What is the long-run equilibrium number of f..
Suppose we have the following market supply and demand schedules for bicycles: Price Quantity Demanded Quantity Supplied $100 70 30 $200 60 40 $300 50 50 $400 40 60 $500 30 70 $600 20 80. Plot the supply curve and the demand curve for bicycles. What ..
What is adverse selection? How do these two concepts relate to the market for insurance and healthcare?
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
In reference to the articles, discuss how firms incorporate the triple bottom line concept into traditional business concerns over profitability. Comment on how customers can influence firms to pay more attention to the preservation of the natural en..
If the total cost of 20 units of a product is $20, and the total cost of 21 units is $21, then from 20 to 21 units of product the: Marginal cost is decreasing. Marginal cost equals average variable cost. Average total cost equals average variable cos..
Consider a perfectly competitive industry. Market demand is P=500-2Q and all firms are identical. Find the market’s long-run equilibrium price. Show that the firm's profit is zero at this price. c. If all firms are identical, then how many firms is c..
If you have been offered $137,000 for a job in Los Angeles and $117,000 for a similar job in Dallas, which job affords you the highest purchasing power of the bundle of goods in the price index.
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