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Marxian economic theory criticizes capitalism systemically for causing both (a) inequality of income and wealth and (b) instability or cycles/crises of macroeconomic levels of employment, income and social welfare. Explain how the basic Marxian analysis of capitalism supports this criticism.
An Asset for transportation purchased and placed in service by a petroleum production company. Its cost basis is $75,000, and it has an estimate MV of $15,000 at the end of an estimated useful life of 15 years.
"Every firm that has the ability to affect the price of the good or service it sells will have a marginal revenue curve that is below its demand curve".
Why is the market for honey efficient despite the potential problem of pollination externalities?
Suppose that a cost minimizing firm with two inputs, capital K and labour L recently increased the quantity of each inputs by 10%.
Suppose years of schooling s is the only variable that affects earnings. On average, assume that men have 14 years of schooling and women have 12 years of schooling. What is the male-female wage differential (in dollars) in the labor market? Use the ..
Suppose there are two types of Scottish beer, Skullsplitter and Dragonhead Stout. Draw indifference curves for the following consumers(put Skullsplitter on the x-axis and Dragonhead Stout on the y-axis).
You are a strong advocate for a one-year investment project that would cost your firm $10,000 today, but generate virtually certain earnings of $20,000 at year-end. Those in your firm's financial group concur that the investment is virtually risk-fre..
All of the following are true about the paper that found a hot hand effect in baseball EXCEPT. All of the following are true about Game Theory EXCEPT
On a business trip, Mr. Pines is driving to meet with a prospective customer. Mr. Pines notices that the gas tank is almost empty. The"GasGun" app in his iPhone says the least expensive gas station is about 15 miles away. A gas station closer to his ..
Consider a market with a demand curve of P=10-Q and a supply curve of P=Q. Before the imposition of a tax, equilibrium quantity is 5, and equilibrium price is $5 (verify this). If a tax of $5 per unit is placed on this market, quantity traded falls t..
Write down the national account identify for a closed economy. Then, show the identity between national savings (i.e. the sum of private savings and government savings) and investment. You must show all of the steps.
On a graph where the total income is on the horizontal axis and the number of tasks is on the vertical axis, why does the piece rate appear as a straight line? Show that if the piece rate goes up, the line become flatter.
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