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Read "Attitudes of the Industrial Middle Class in Britain and Japan" (19-1d). What are the differences between the viewpoints of Samuel Smiles and Shibuzawa Eiichi? How do you account for those differences? Do they share any values or outlooks? How does Smiles represent nineteenth-century liberalism and how does Eiichi exemplify the values of Confucius?
Explain how each of the following policies redistributes income across generations. Is the redistribution from young to old, or from old to young? a. an increase in the budget deficit b. more generous subsidies for education loans c. greater investme..
Compute the short- run and long- run results, explain the changes in the price and in the number of firms.
Suppose that you have a business in which you hire five workers, to whom you pay $4 an hour. Suppose further that you have overhead costs of $100 a day and that you pay $1 in materials cost fo each item that your business manufactures. Assuming that ..
Elucidate why from an economic point of view towing a car illegally parked rather than just ticketing it provides a better incentive.
There is a market with inverse demand given by p(Q) = 240Q. Firm A (the incumbent) has to make an irreversible decision on how much capacity to build. After A decided on its capacity, Firm B (the entrant) will decide whether or not to enter this mark..
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.)? What fiscal policies and monetary policies would be appropriate at this time?
Suppose that the? long-run aggregate supply curve is positioned at a real GDP level of $14 trillion in base year? dollars, and the? long-run equilibrium price level? (in index number? form) is 120.
Consider a firm for which production depends on two normal inputs, labor and capital, that are not perfect complements. Initially the firm faces market prices of w = 10 and r = 8, for labor and capital. In which direction will the substitution effect..
Suppose that the public wishes to hold $0.35 in pocket money (currency and coin) and $0.25 in time and savings deposits. Suppose that banks wish to hold $0.20 for each new dollar of transaction money received. Suppose that $0.05 finds its way outside..
Calculate the tax incidence of the buyers and the monopolist.
Suppose the production of electricity by a utility generates pollution that harms others. Suppose also that Coase bargaining can occur between the utility and the victims of pollution but that the utility has not been legally liable for the damages f..
A smaller network carrier (hub and spoke airline) is considering expanding its product by adding a new route connecting its hub with the “fortress hub” of a global network carrier (see Doganis sections 9.6 & 9.7). Choose any one of the topics from Ba..
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