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Globalization is becoming very important in economic discussions. While some politicians favor protectionist policies because they feel these policies protect domestic producers, others claim free trade increases economic activity and has advantages for the country as a whole. Describe a recent foreign purchase. Do you think it is better to source from overseas or should tariffs be in place to protect American industries? Why or why not?
If the price elasticity of demand for gasoline is 0.3, and the current price is $1.20 per gallon, what rise in the price of gasoline (in cents or dollars) will reduce its consumption by 10%? please explain.
Suppose you have been asked to make a report for a group of new stock brokers about NYSE-Euronext and the NASDAQ.
Each demand curve must eventually hit the quantity axis because with limited incomes there is always a value so high that there is no demand for the good.
1) Does the goal of full employment imply zero unemployment? If not, what types of unemployment would you expect to be present if the economy is at full employment 2) Why is price stability an economic goal What are the problems associated with ra..
Some manufacturing companies are moving out of the country in search of cheap labor and the ones at home are not doing as good and some big ones like auto are trying to cope well after coming out of bankruptcy.
The widget industry in Springfield is competitive, with numerous buyers and sellers. Consumers don't differentiate among the various brands of widgets (no product differentiation). The industry demand curve is given by: Qd = 998 - 5Pw + 4 Y - 6Pg
Describe why personalized pricing or 1st degree price discrimination is g enerally more profitable than menu price. Why, if this is the case, do companies use menu pricing?
A two-year-old child is eating raisins one at a time from a large box. Even though the child doesn't understand formal economic theory, he knows when to stop eating because he is full. Describe how this child has already mastered marginal analysis..
In the old days lighthouses were built along the coast to prevent ships from runnung around on the rocks in unfamiliar ports. By shining a beam of light over a port and guiding ships away from the rocks, these vital buildings reduced the risk for ..
Find a newspaper or magazine article that highlights when the political process works poorly (not too hard). Write a 1-page paper on the economic reasons for this performance
If unemployment insurance were so generous that it paid unemployed workers 90% of their regular salary A. the official unemployment rate would probably understate true unemployment. B.
Someone claim that immigration must always be good for economy because the raised supply of labor will result in a higher GDP. Estimate this statement.
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