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Question1. Why is democracy associated with capitalism? Think the impact of the capitalistic free market on the following:
Question2. In contrast to a socialist economic organization, how would a capitalist system differ? Consider who owns the capital (means of production) in the two models.
Question3. When do assumptions made in conjunction with economic theorizing have to be realistic? Can unrealistic assumptions provide useful outcomes?
Question4. What basic principles does the production possibilities (or transformation) curve illustrate? Consider whether an increase in the production of one good requires an increase or decrease in the production of other goods when K and L are held constant.
Question5. Determine when does the idea of opportunity cost indicate? think how the production of one good affects the possible production level of other goods.
Question6. Will a change in the price cause the demand for X, a normal good, to change?
Most commercial fish species in nearly every ocean and sea are rapidly depleted. The world fisherman and vessels represent twice as much fishing power as major stocks of fish can sustain.
Determine the economy current stage in the business cycle and support your answer with an article written within the last week from popular press or blog.
Lisa is a lawyer and there are two tasks that she hates to do, even though her job requires it. Draw a graph with hours reading on the horizontal axis and hours writing on the vertical.
Elucidate the trend over the past few years. What stage of the Business Cycle would the U.S. economy be in currently given the trends
In 1971, Congress conducted headings on emergency loan guarantee legislation for Lockheed Corporation, which was in the middle of a severe liquidity crisis due to losses on a number of military contracts.
Illustrtae what is the profit-maximizing level of price and quantity for this monopolist.
Illustrate what effect do you think it had on learning by the industry as a whole. What factors might explain these patterns.
The World Bank is currently advising newly industrialized nations on how to increase growth and they have asked for your help.
Groovy Tuesday, a clothing maker, has found that their costs can be approximated by the equation: C = 500 + 2Q2. The consulting company they hired to estimate their current demand determined that demand is characterized by:
Since January of 2001 the Fed has reduced its Fed funds rate target from 6.5 percent to 1 percent. Nonetheless, the number of people at work is less than
John is willing to purchase 7 computers. This scenario displays the law of demand. Do you agree or disagree.
Compute the changes in inflation rates, unemployment rates and the RGDP growth rates.
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