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Briefly discuss the origin and motivations of the Luddites of the early 19th century.
Do you think the Luddites were successful in their endeavors? What could they have done to better influence the role this technology would have in their lives?
Are there economic, social and cultural motivator present today that are similar to those that gave birth to Luddism? Give an example.
How is society shaping and be shaped by these changes today?
Learning from history, what can we do to ease the transition of technological progress?
The Lost Mountains of northern Iowa are inhabited by the rare Marshallian deer. Patches of grass are far apart in this rugged land. If a deer finds a fresh patch of grass and spends h hours grazing it, it gets y = √ h units of grass. The deer compete..
Suppose that a restaurant offering Ethiopian cuisine opened in a well diversed city. and became a great success. What would you predict would happen in the restaurant market for that city? Draw a graph illustrating the likely changes in the shape and..
Illustrate what was the marginal cost of the 251st unit of output.
q1. what do you mean by an institution? explain how do institutions influence economic life? also explain how does
Create two separate graphs that show current changes in equilibrium interest rates using the MD and MS curves. Describe the following: The Fed's actions to fight recession, The Fed's actions to lower inflation, Create two NEW graphs adding AD/AS curv..
Original owners must sell their used cars. Original owners know what their cars are worth, but buyers can't determine a cars quality until they buy it.
Recently, the average rate paid by banks on savings accounts was 0.45%. However, at the same time, inflation was around 1.50% what was the average saver’s real rate of interest on his/her earnings? (b) Banks expect that the rate of inflation in the c..
What is included in the true marginal cost of public spending from an economic perspective? Briefly explain why government spending typically grows faster than economic output.
Janice really likes potatoes. At best any other goods are worth less than a dollar to her, potatoes cost $1.10 per pound, and she has $5.00 that she could possibly spend on potatoes or other items. Suppose she feels that the first pound of potatoes i..
Mr Patel runs a motel in Tampa, FL. The market is highly competitive since there are many hotels in the surrounding areas and the average room rent per night is $35. There are 30 rooms are Mr Patels motel and each room can be rented for 30 nights a m..
Define the concept of a supply schedule or curve. Show that an increase in supply means a rightward and downward shift of the supply curve. Contrast this with the rightward and upward shift of the demand curve implied by an increase in demand.
You have decided to buy a small apartment building for $100,000 near a local college. You used $10,000 as a down payment and obtained a mortgage from a local bank for the remaining $90,000. The annual mortgage payment to the bank is $11,500. You expe..
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