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Describe both distributive and procedural organizational justice and how they differ. How may one’s level of collectivism influence his/her interpretation of a situation as reflecting distributive justice? How may one’s level of power distance influence his/her interpretation of a situation as reflecting procedural justice? Finally, which of the four primary decision making styles (see the slides on leadership styles/models) do you believe would lead to a manager’s decision most often being interpreted as distributively and procedurally just by an employee?
Smith likes cashews better than almonds and likes almond better than walnuts. He likes pecans equally as macadamia nuts and prefers macadamia nuts to almonds. Assuming his preferences are transitive, which does he prefer:
In a market with free entry and exit, who bears the burden of a tax? Given this fact, how might tax incidence differ in the short and long run? [HINT: Recall how the market supply curve looks like when there is free entry and exit]
Calculate the substitution and income effect for the utility function: u(x,y) = x + lny and show that the Slutsky equation applies to those cases.
Find the equilibrium values of the real interest rate, consumption, investment, and the price level.
In calculating the incremental cost of a particular project, how would you treat the possible future costs of a lawsuit that may occur as a result of this project.
What has been the effect of longtime rent control in New York City? Why were controls initially imposed and why do they persist to this day?
Consider the AD/AS model built from the IS/LM. The economy was operating at full employment, but it is suddenly hit by a negative demand shock in the form of a decrease in planned investment at each level of the real interest rate. Compare the initia..
Why are many consumers apt to be rationally ignorant about their options? Why would insurance coverage tend to increase rational ignorance? Why are so many economists opposed to licensure of medical facilities and personnel?
Take a position on this statement: The media represent realistic images of Arabs. Support your views with one or two reasons and / or examples. (Cite any sources you referenced.) take a position on this statement: The media represent realistic images..
The price elasticity of demand for Pete's chocolate chip cookies is 1.5. Pete wants to increase his total revenue. Would you recommend that Pete raise his cost or lower his cost of cookies. Explain your answer.
A man is planning to retire in 20 years. Money can be deposited at 8%, compounded monthly.It is estimated that the future general inflation rate will be 3% compounded annually. What deposit must be made each month until the man retires so that he can..
sometimes a bidder on a work contract may bid lower than what would maximize hisher profit from the contract and the
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