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The behavioral economist Robert Frank speaks of the bounded nature of rationality in his 2008 interview (Challenge 2008) and discusses the axiom of the independence of irrelevant alternatives in rational choice theory. Using the examples he uses, discuss this topic in your own words.
What is the central theme (s) behind Viet Nam economy’s successes and challenges in providing an improving welfare for its citizens?
Explain how a price increase could be better for society than not raising the price of a product or service. Why does central planning not work efficiently?
Why does the government intervene in the economy? Should they and what would the impact be if they did not?
You are the manager of a firm that plans to expand the human resource base of its operation by hiring additional business school graduates over the next few years. That same article reports that the shakeup of upper-management is over at U.S. firms, ..
How would you design a specific customized compensation plan for Agent-Principal (owners, managers also workers) which would address both increased productivity also decreased turnover.
The measure of saving in the National Income and Product Accounts includes
How can you decide what type of decision is strategic? In your discussion, bring in articles or research from various sources to justify your position on this topic.
Category Amount:: Durable Goods $1,000, Non-Durable Goods 2,500, Services 7,000,Fixed Investment 1,800, Changes to Business Inventory 35, Investment in Stocks & Bonds 5,500, Federal Government Purchases 1,200. Using the above table determine the amou..
The real wage
What is the pricing structure in a perfect competitive market. What is the pricing structure in a monopoly. If the company produces nothing which of the costs is equal to zero?
The price of gasoline is $2.00 and the price elasticity of demand is -.4. How much will a 10% reduction in the quantity placed on the market increase the price? (you can state the answer as a percentage.) Will total spending on gasoline rise or fall?..
Suppose that George operates a laundromat which requires two inputs, capital (K) and labor (L). His production function is Q=3K^(1/3)*L^(1/3). Suppose George desires to produce 90 units of output, and the cost of labor is $27. What is is capital dema..
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