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Martha is preparing for exams in economics and sociology. She has time to read 40 pages of economics and 30 pages of sociology. In the same amount of time she could also read 30 pages of economics and 60 pages of sociology. Assuming that the number of pages per hour that she can read of either subject does not depend on how she allocates her time, how many pages of sociology could she read if she decided to spend all of her time on sociology and none on economics?
Describe considerations for undertaking macroeconomic stabilization policy including understanding the use and effectiveness of fiscal policy and monetary policy in stabilizing the national economy.
Identify 4 threats caused by globalization. Explain how globalization affects the gross domestic product (GDP).Explain your thoughts on globalization in your own words (e.g., is it bad or good Why or why not Does it affect all countries).
Consider the following demand schedule. Does it apply to the perfectly competitive firm? Calculate marginal and average revenue.
A two-year-old child is eating raisins one at a time from a large box. Even though the child doesn't understand formal economic theory, he knows when to stop eating because he is full. Describe how this child has already mastered marginal analysis..
Explain the long-run adjustments that will create equilibrium with firms operating at their minimum efficient scale. Why is a perfect competitive firm associated with efficiency for both consumers and businesses
Which of the following statements is correct? Marginal revenue equals $3, Average revenue equals $600, Average revenue exceeds marginal revenue, but we don%u2019t know by how much.
Suppose that after graduation you take a job with an employer that oers to pay full tuition for employees wishing to return to school to get an MBA degree during non-work hours. You are not required to continue working for the rm after getting yo..
Suppose the demand for total snuffbox production is given by Q = 1,100 – 50P. What will be the equilibrium in this marketplace.What will each firm’s total short – run profits be.
Suppose average movie attendance is 250 million tickets when prices are $7 a ticket and 200 million when prices are $9 a ticket.
The demand for the firms services has been increasing as more consumers use the service for convenience and due to higher parking rates and gasoline prices, wage rates for drivers increase cost for the firm. Describe the supply and demand shifts t..
Create a list of reasons for your recommendation and include considerations of product features and use of advertising.
Economists make decisions by thinking in terms of alternatives. Why do economists thinks there is no such thing as a free lunch?
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