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Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts. How are the efficiency and equity effects of introducing a voucher system likely to differ across these two areas? Relate your answer to the Tiebout mechanism (and define it and its assumptions fully in your answer).
What is the profit maximizing condition for the firm when choosing the optimal level of labor? Write down the condition in REAL terms. Suppose the Labor Supply Curve is given by Ns = 92 + 6w. (w is the real wage). Obtain the Equilibrium real wage and..
Supposed that two nation start out in 2013 with identical levels of output per work hour – say, $100 per hour. In the first nation, labor productivity grows by 1 percent per year. What are some examples, other than those given in the chapter of techn..
How do you present in professional written form the answer to economic questions without utilizing equations and symbols? Feedback from my professor states, "this is a course in economics. Approach every assessment from the point of view of an econom..
Suppose all workers value their leisure at at 90 goods per day. The production function relating output per day to the number of people working per day (L) is: Assume there are no taxes. What are the equilibrium values of the real wage, employment an..
TT Drinks Company was established a hundred years ago and currently employs over 300 people. The company produces and sells a range of black, green and flavoured teas and fruit infusions. TT's last Director of Marketing was away from work with illnes..
Your accountant tell you that it cost $400 to set up an immunization program at a preschool and immunize one child against polio. It will cost $460 more to immunize 20 more children. What is the cost per child for the first child? What is the cost pe..
Nancy’s Notions pays a delivery firm to distribute its products in the metro area. Delivery costs are $31,000 per year. Nancy can buy a used truck for $9,500 that will be adequate for the next 3 years. Operating and maintenance costs are estimated to..
Boyd Company sold a futures contract (one) on Treasury bonds that specified a price of 93-00. When the position was closed out, the price of the Treasury bond futures contract was 94-20. Did interest rates increase or decrease? How do you know? What ..
When the Bell System was broken up, the old AT&T was split into a new AT&T in addition to seven regional telephone companies. The specific reason for forcing the breakup was to increase the degree of competition in the telephone industry. Do you thin..
Galbraith (1962) present eight assumptions about the causes of poverty (pages 15-19). Please select one of these assumptions and discuss its merits and possible remedial actions.
Advise Steve whether he will able to rely upon his insurance policy. Support your answer with relevant cases and legislation.
What is the difference between a union shop and a closed shop? Which did the Taft-Hartley Act make illegal? How have more recent laws changed the role of unions?
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