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1. The summer beach house rental season is June through early September; what will happen to the price and quantity of beach house rentals in New Jersey during the summer season compared to the off-season? Is there a movement or a shift, why? Graph and explain the relationship.
2. Show graphically and explain in writing how the following demand and supply curves are likely to shift in response to the indicated changes:
a) The price of large screen LCD and plasma TVs are going down. Why?
b) The effect on the demand curve for hybrid cars (run on electric and gas and get much greater gas mileage) vs. regular cars (run only on gas) when the price of gas doubles. You need two graphs.
First, graph the supply and demand curves then show the changes in a and b above regarding quantity and price.
3. The price of houses has been going down for a few years. Graphically show and then explain what has occurred and why (reason for shift)? You can make up a reason as well as long as you support it.
Some helpful hints; you must know the reasons (determinants) for the shifts in supply or demand (and list them) in your graphs. Only one curve moves except where price of other goods are concerned (substitute or complimentary) and there is a movement on the other curve.
You are a manager in a perfectly competitive market. The price in your market is $35. Your total cost curve is.
Describe whether each of the following would cause a shift of the aggregate demand curve, the aggregate supply curve, neither, or both.
Determine some of the models that predict the EFFECT that decreasing protection of imports will have on FACTOR PRICES? Briefly describe the effects shown by these models.
When watching at our economy, you will determine that government expanding is very important to our overall output of our economy.
You are to be part of a panel of three local person considered to have experience in international business.
Is it ethical for a government to pretend in ways which socialize financial risks or losses.
Diffentiate among short-run and long-run and consider the role of expectations.
The scenario is that I am going to open restaurants in China. One in Shanghai and one Beijing. These restaurants will serve healthy food such as salads, sandwiches, pizza, soup,
Explain why did Ricardo think that international trade was based on comparative advantage while internal (domestic) trade was based on absolute advantage.
Think about the trade off in work and leisure during a given day, and from day to day. During a given day, does opportunity cost of work rise, decline, or remain constant with each additional hour of work?
The relation among the number of technicians recruited per hour and the number of radiographs produced per hour is shown in the following table.
Describe autarky equilibrium if all the English always consume equal quantities of wine and cloth. Describe autarky equilibrium if Portugal always consumes equal quantities of wine and cloth.
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