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1) In exploring another technology that revolutionized Western society, take a moment to consider the invention of the bicycle. Although now considered a piece of equipment used by children or outdoor hobbyists, some historians have argued that this single invention changed the way people interact with one another, going so far as to say that the bicycle helped to drive the Women's Suffrage Movement. Take a moment to discuss why this is the case. Do you agree with this assumption?
For both options, your interest rate is 6% compunded monthly. If the car has a value of S after the 36 months period, what is the value of S that would make both options A and B economically equivalent?
Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a person's income to provide the same level of coverage as before. What can be said about deadweight loss in each case?
Many U.S consumers want their meals in a hurry, but with more service and higher quality food than in traditional fast food restaurants. The result has been the rise of fast casual restaurant chains, such as Daphne’s Greek Café, Boston Market, and pa..
Suppose you have three indivisible assets, A, B and C with internal rates of return 2%, 5% and 10% respectively and initial costs of $1, $3, $3. Suppose you have $4 at 1% and can borrow at 12%. Which assets do buy?
Jacob Viner originally envisioned a situation where, in the demand/supply graph of a trade-diverting customs union, the demand curve was vertical and all supply curves (including the supply curve of domestic producers) were horizontal. In this situat..
A company needs a new car and has the following options: (1) purchase the car cash or (2) lease the car. They are expecting to use the car for 2 years. If car is purchased for cash: Cost new, $28,000 • Factory rebate available immediately, $4000, Sal..
Research has shown that fishing poles are an inferior good. If there is a decrease in the price of fishing poles, how are the substitution effect and income effect of this price change influencing consumers' purchasing decisions? Explain the impact o..
A proposal has been made for improving the downtown area of a small town. The plan calls for banning vehicular traffic on the main street and turning this street into a pedestrian mall with tree plantings and other beautification features.
Government often grows to meet the demands of the citizenry and so does the costs associated with that growth. Identify an example of growth that was necessary and provide reasons why. Explain why such expansions are needed to meet the needs of socie..
Assume that major wheat producers in the world increased their land under wheat by 30 percent. Graphically show the effect of increase in land under wheat on the grain market.
If interest rates could be deducted from income, would an investor change his/her decision based on question 1.
On Friday night, Elton and his partner Rodney are deciding where to go for dinner. The choices are Indian, Korean, and Mexican. Elton most likes Indian food and most dislikes Mexican food, whereas Mexican is Rodney’s favorite and Indian is his least ..
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