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1. What is happening to inequality in the USA in terms of economics? how might this affect future economic growth in America? Explain.
2. What are some of the social costs of inequality in America and other societies?
q1. illustrate what might you be able to infer about the elasticity of demand from the following statement in the
the quantity demanded of Cake is 100 slices and the quantity demanded of cheese bread is 100 pieces.
Other things being equal, woudl this tend to increase planned expenditure in the United States by exactly, more than, or less than $50,000? Would it shift the aggregate demand curve to the right, the left or not at all? Explain in detail.
Economists claim that there are several causes of economic inefficiency in medical care. List three basic causes and, for each, describe why it results in economic inefficiency and poor performance in medical markets.
Consider a bond that has a present value of $1,000. If the annual rate of interest is 7 percent, the future value of the bond after a year is
Illustrate the effect of increasing Government spending on all the macro-economic variables assuming a horizontal AS curve.
Elucidate each event whether it changes short-run aggregate supply, long-run aggregate supply, aggregate demand, or some combination of them.
Economists use economic models to guide their thinking in regards explaining and predicting that which is otherwise unknown. These models are generalizations that rest on assumptions we use in creating a simplified setting, where only that which is m..
Proponents of a basic income (or negative income tax) argue that it is a superior method of addressing income inequality than the minimum wage. First, briefly explain in what sense the basic income is less disruptive to labor markets than the minimum..
What present expenditure is warranted for business that is expected to produce a savings of $8000 per year that will decrease by $800 per year for nine years with an interest rate of 10%? Draw a cash flow diagram that depicts the situation as well..
The demand curve for the product of a monopolistically competitive firm
Suppose the government were to subsidize the wages of all women in the population by paying their employers 50 cents for every hour they worked. What would be the effect on the wage rate women receive? What would be the effect on the net wage employe..
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