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Real GDP projections from the Congressional Budget Office
Compare and contrast at least two different 18-month forecasts for Gross Domestic Product (United States) and graph them. Include a reconciliation of the differences between the forecasts for GDP and a rationalization for which forecast you believe is most accurate. Defend your opinion.
The average weekly earnings of bus drivers in a city are $950 with a standard deviation of $45. Assume that we select a random sample of 81 bus drivers.
Explain, illustrating with graphs as necessary-be sure that the shape of your supply and demand curves make economic sense.
Elucidate why the price elasticity of demand differ along a demand curve, even if the demand curve is linear.
A firm has offices in London and New York. Fractional units of labor can be employed in each location (as part-timers can be hired) and the headquarters could be in either city.
Discuss the reason why governments might want to intervene and how they might do- with respect to the following "problem" in the functioning of an otherwise perfectly-competitive ("pareto-efficient") economy:
What is the firm's cost function when the cost of pollution certificates is included? What is the firm's marginal cost function when the cost of pollution certificates is included? Derive the firm's supply function.
Using the IS/LM/BP model, demonstrate the effect of each of the following changes. Assume that the economy is a small country with perfect capital mobility and a flexible exchange rate.
Suppose that there is an "inflation scare," that is, suppose market participants increase their expectations of future inflation.
You're the manager of a paper mill and have been subpoenaed to appear before a joint session of the Senate Consumer Affairs and the Senate Environmental subcommittees.
Economists have estimated the subsiquent transportation elasticities.
Explain the antitrust laws in the US stricter also more comprehensive compared to those of other industrialized country.
After two years the City of Plentiful is faced with a fiscal crisis and decides that it wants its garbage back.
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