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Contrast the economic and social roles of people who labor under slavery, feudalism and capitalism and explain how ideology legitimated those roles.
Chris has $100 to spend this month on movies and/or books. A movie costs $10 and a book costs $20. Draw Chris’s budget constraint (or budget line), with the number of movies purchased on the vertical axis. What is the opportunity cost of the second b..
How much will a $34,000-per-year college cost 15 years from now if inflation is at an annual rate of 6.5%?
A tractor for over-the-road hauling is purchased for $90,000. It is expected to be of use to the company for 6 years, after which it will be salvaged for $4,000. Calculate the depreciation deduction and the unrecovered investment during each year of ..
What factor(s) in demographic segment can have significant impact on U.S. restaurant industry? How does each of these factors shape the growth and changes of the industry? What are the future trend of each factor and the resulting changes of the indu..
Dyna Rubber Inc. manufactures a high performance tire called the Sport 70. Fixed development costs for the current year are $600,000 per year. Marginal costs for manufacturing and distribution are $63 per tire. Calculate the output, price total reven..
In June 2008, the U.S. retail gas price jumped from $3 to $4 a gallon. This is a 33% increase in price from January 2008. During that time, the total quantity of gasoline purchased fell by 3%. Supplies of gasoline produced also decreased from 1 milli..
Now suppose that it costs $20 to migrate to the United States. Who will migrate to the United States? What has happened to the skill level of those who elect to migrate? What has happened to the average skill level in the home country? Why?
Compare social welfare under the bribe with social welfare in the case where the police officer always abides by the law.
Home Interiors has net income of $248,000. The firm has decided to pay $160,000 of that income out to the shareholders. What is the firm's retention ratio? Art Supplies has a net income of $138,600. The firm has $1.25 million in assets and $500,000 i..
Sarah's preferences for consumption and leisure can be expressed as U ( C , L ) = ( C - 180 ) × ( L - 80 ) . This utility function implies that her marginal utility of leisure is C - 180 and her marginal utility of consumption is L - 80. What is her ..
Nominal interest rates are quoted at a variety of maturities, corresponding to different lengths of loans. For example, in late 2004 the U.S. government could take out ten year loans at an annual interest rate of a bit over 4 percent, whereas the ann..
An economy has $72, to divide between Hamlet and Ophelia. What are the Pareto efficient allocations of the $72? Calculate the allocation of money that maximizes utilitarian social welfare. In that allocation, what is the maximized value of social wel..
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