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Consists of performing application-oriented exercises wherein the specific economic principles learned in this course are put to practical use. You must translate your ideas into economic analysis using the specific economic theory and economic terms.
Choose of one topical microeconomic issue out of two possible alternatives.
Choose one of the following two microeconomic issues:1. Everyone's Gasoline Problem. We are all familiar with fluctuating prices of gasoline at the pump. Why does this happen? Research the recent history of gasoline pricing in your area, and attempt to relate any fluctuations you observe to documented supply and demand factors, as outlined in our book. Be sure to cite any references used.2. Ethical Issues in Business. It seems that every day lately we are confronted with a new company that has acted at least unethically and possibly illegally in the operation and financial reporting of their company's business dealings? Briefly discuss one of these issues. How would you expect this to affect the equilibrium price and equilibrium quantity for this company's products and services? Is the elasticity of demand or supply affected? What about the effect on production levels and costs? Are ethical issues more likely to occur in one market type rather than another market type? You don't have to cover all of these topics.
Utilizing the supply and demand model, explain what would happen to the supply curve during a drought. Also explain the affect on the price of water.
According to law of comparative advantage , who should produce wheat and who must produce Cd palyer? Evaluate all relevant opportunity cost.
Explain how is the current account related to a country's business cycle. What is the relationship between a country's net financial inflow and its current account.
For each of the following pairs of goods, would you expect the cross-elasticity of demand to be positive or negative? Large (in absolute value) or small? Defend your answers:
The perticular information needed to calculate each metric should be discussed. For each metric discuss the appropriate target value and the actions that need to be taken to achieve the target.
Elucidate the impact of inflation on salary rates and employment.
Elucidate what happens to the price of shoes and the quantity of shoes consumed after a total ban on imports.
Explain how does technology affect an organization's productivity and costs. How has your organization used technology.
The 3-Stooges partnership is planning three long-term capital investment proposals. Each investment has a useful life of 5 years. Relevant data on each project are as follows.
Bright Future, Ltd (BF) is a non-profit foundation providing medical treatment to emotionally distressed children. Determine the optimal amount of service provided by BF.
If resources available for human consumption were out of limit, there would be no need for a subject field such as economics. Why do I say this?
Ellucidate what happens to the price of a bond that pays a fixed percent of the face value every year when interest rates in the economy increase.
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