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1. How does a centrally planned socialist economy solve the what, how, and for whom to produce problems?
2. Is capitalism or socialism the better economic system? Why?
3. Why does an economy's strength ultimately reside in its people?
The rate of economic growth per capita in France from 1996 to 2000 was 1.9% per year, while in Korea over the same period it was 4.2%. Per capita real GDP was $28,900 in France in 2003, and $12,700 in Korea. Assume the growth rates for each countr..
What is the effect of a $1 specific tax on equilibrium price and quantity if supply is perfectly inelastic? What is the incidence on consumers? Explain.
How Much Oversight? After the financial crisis in 2008, Congress wanted to have more oversight of the Fed and some suggested that the Government Accountability Office even audit the decisions of the Fed. What are the risks of this increased oversi..
If price of motor vehicles rises, what will happen to the demand of fuel oil In which direction the demand curve for fuel oil will shift with a rise in price of motor vehicles
A local municipality has issued a request for proposals to conduct a feasibility study to design, implement, and sustain a recycling program in a small town. As PM, you need to develop a bar chart to assign responsibility and maintain a project sc..
Now suppose that the manager of the Three Peaks increases the number the newspaper ads to 80 per week. Examine the effect of this change on the price elasticity of demand for lift tickets. Should the Three Peaks lower its price while increasing it..
Find the optimum commodity purchases for a consumer whose utility function and budget constraints are U=(x^1.5)(y) and 3x+4y=100 respectively. a. Show that the first-order conditions for a constrained utility maximum.
The right end of a 6-m-long wire, which is stretched until the wave speed is 60 m/s, is continually moved with the displacement 0.5 cos 4πt. What is the maximum amplitude of the resulting displacement?
The average 15- year- old purchases 12 CDs and 15 cheese pizzas in a typical year. If cheese pizzas are inferior goods, would the average 15- year- old be indifferent between receiving a $ 30 gift certificate at a local music store and $ 30 in cas..
A used car you are considering buying is offered for sale for$6800. The bank will lend you $5700 on the car at 15 percentnominal interest, compounded monthly, for 36 months. The bank manager tells you that the payments will be $275.03 per month
After several months of price hikes, the price of butter reached the price observed before demand decreased. A blogger suggested that the rising price of butter was evidence of a conspiracy on the part of butter producers.
estimate the proportion of complaints the Better Business Bureau is able to settle. Assume the population proportion of complaints settled for new car dealers is .75, the same as the overall proportion of complaints settled in 2008.
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