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Shocks to an economy, such as wars, famines, or the unification of two economies, often generate large flows of workers across borders. What are the short run and long run effects on an economy of a one-time permanent increase in the stock of labor? Examine this question in the context of the Solow model with g=0 and n>0 and that you start at the long run (steady state) equilibrium. Make sure you graph this.
In December 1992, the federal government began requiring that all foods display information about fat content and other ingredients on food packages. The displays had to be verified by independent laboratories. The price of an evaluation of a food pr..
Federal vs State Government. Choose a side to argue from. What makes the other form of government weaker in solving problems and deliver services to citizens?
Arguments in favor of having developing countries focus on exporting manufactured goods include
View "Trade-Offs and Opportunity Costs," located on the YouTube website. Share an example of your own experience in which you had to decide on an opportunity cost that would affect you. What outcome did the decision have on your economic situation?
For the sake of simplicity, suppose 89 octane is the only grade of gasoline and it currently sells for $2.89/gallon. Suppose the federal government imposes an excise tax on gasoline of $10/gallon. How should this affect the supply and demand curves f..
Use at least one of the four Marshall-Hicks laws of derived demand to explain this difference in effectiveness between the unions.
Wise leaders know that the key to balancing innovation and execution skills in a team or company is knowing who has what skills and then figuring out how to combine those complementary strengths within a team to generate quality ideas that will produ..
How would I plot a marginal product curve, say, given the number of workers on the x-axis and and the number of a certain product produced on the y-axis.
How closely does the labor market for the following type of worker approximate a perfectly competitive market? What, if any, are the major imperfections in each market?
Firms A and B are the only firms in the market for widgets. Each firm can choose between cooperating and fighting. If both firms choose to cooperate, each gets a profit of 10. If both firms choose to fight, each gets a profit of 5. Suppose firms choo..
Write a short essay on the business strategies that were used by Wal-Mart to make the company the largest retailer in the world. As part of your answer, make sure that discuss whether you believe that these strategies will continue to work as well in..
Draw the Edge worth Box diagram for this economy also Explicate whether the initial allocation of cheese also bread is Pareto efficient.
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