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1. What is the West?" discusses the evolving ideas of western civilization and the questions one should ask when studying it. Reflect on these ideas and how one should analyze the materials of the course. 250 or 300 words. APA format, site all references.
Graph the demand and supply functions for sweatshirts and find the equilibrium price and quantity - what effect will an increase in the price of gym shoes (a complement) have on the equilibrium price and quantity of sweatshirts, all else constant?
If two customers are randomly chosen (without replacement), find the probability that they will both buy shoes primarily for tennis.
Trace through the effects of this on the market for oil and the market for other fuels.
How does economic theory contribute to managerial decisions - explain the law of demand. Briefly discuss the exception to the law of demand.
Do you think that the membership is more likely to vote in favor of the proposal at Locust Hill or for the one at Salt Lake Country Club? Explain.
In particular, some cities have paid members of the police force based on the number of arrests that they personally make. Discuss the likely effects of this compensation policy.
Assume the production function is given by Q = 4K + 8L. Determine the average product of capital when 10 units of capital and 5 units of labor are employed?
What is the labor-intensive good and what is the Marginal Rate of Transformation impact?
Suppose a business experiences a sudden increase in its fixed costs. For example, suppose property taxes increase dramatically. What impact, if any, will this have on the following:
1.Explain how equilibrium would be restored in the circular flow of income if there were a fall in investment.
What are the advantages and disadvantages of debt swapping as a means of reducing the debts of developing countries?
What is the dark side of self-esteem? What impact does low self-esteem have on behavior?
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