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e. On the topic of Economic growth: i. What does it mean? ii. How can it be graphically represented? iii. What are the prerequisites to Economic growth? iv. Why is Economic growth important? v. What factors tend to limit growth?
f. The Presentville – Futureville case: 1. Explain what motivates each group to make decisions. 2. Explain the impact of those decisions on the future of each group. 3. Explain the relevance of this case for the U.S. Economy. 4. What does this case teach you?
g. Law of increasing opportunity cost: 1. What does it tell us? 2. How could it be explained graphically?
h. Explain how you could use the Production Possibility Model to represent the US Economy during 2008 – 2010.
Imagine you are a public administrator who has just been promoted to a higher position but must relocate to another city and purchase a different home. Using the five distributing bargaining skills, present the steps and various aspects you would con..
The government purchases component of GDP does not include spending on transfer payments such as Social Security. GDP does not also include the value of used goods that are resold. Do you think such exclusion make GDP a less informative measure of ec..
A machine is purchased for $56,000 with a useful life of 5 years, after which, it is estimated to be worth $5,000. The machine will be operating 2,500 hours per year with annual maintenance and operating costs of $6,000. Using an interest rate of ..
Grow Fertilizers Company purchases a gravity settling tank of the $50,000 purchase price. The company finance 50% of the investment with a loan to be repaid with eight equal semi annual principal payments plus interest of the balance at an annual int..
What can we say about the price elasticity of demand for nicotine products (such as cigarettes, pipes, tobacco) in the group of nicotine addicted users, versus the group of "social smokers"? Can we say whose demand is likely to be more elastic? Why?
Discuss whether each of the following actions create any postive or negative externailty??
not long ago an employee came into my office asking for a wage increase. i responded by asking what increase in
Explain how resource scarcity influence hospice/palliative care for children and describe choices stakeholders are forced to make.
In December 1994, a man in Ohio decided to deposit all of the 8 million pennies he had been saving for nearly 65 years. (His deposit weighed over 48,000 pounds!) With a reserve requirement of 5 percent, how did his deposit change the lending capacity..
The demand for Ford trucks
Assume in the retail-trade industry, unionized workers earn 19.0% more than non-unionized workers do. Briefly explain how the “product market” effect may operate in this industry. If the product market effect were large, would that suggest that the 1..
In the spring of 2002, lettuce price doubled from about $1.5 to $3 per head. The reaction of one consumer was quoted in newspaper article; "I will not buy lettuce when it is a $3 a head" she said, adding that other green vegetable can fill in for let..
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