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There are ultra-conservative politicians who believe that the Federal Reserve System should be eliminated. Based on the material covered in class (macroeconomics), do you agree or disagree? Explain, in your own words, and be specific.
How can a compensation scheme designed to enhance worker motivation lead to this result.
Define the dead weight loss of a unit excise tax on a particular good. Explain what it measures. Draw a graph of possible supply and demand curves for a particular good for which the deadweight loss (DWL) from a unit excise tax is about half as big a..
If consumption and government purchases go up, what happens to GDP in the long run. Show this graphically.
Martha has the utility function U(x, y) = min {4x,2y}. Write down her demand for x and y as functions of the variables m, px, and py, where m is income, px is the price of x, and py is the price of y.
explain how much consumer spending takes place. Which of the following is something that they would include in consumer spending.
Truckco manufactures two types of trucks; the T1 and the T2. Each truck must go through the painting shop and the assembly shop. If the painting shop were completely devoted to the T1, 800 trucks could be painted in a day. Use solver table or paramet..
A monopoly or oligopoly showing no economic profit or loss has
Describe who else you will talk to in order to set the sales assumption forecast. How will you document this? How is the sales budget used to build the other budgets? Who is responsible and what standards for negotiations should be set during budge..
How does anarchy lead to a focus on consensus and give power to veto states and coalitions? How does ecology and sovereignty collide?
Which one of the following would increase per-unit production cost and therefore shift the aggregate supply curve to the left?
What determines whether or not a resource is scarce? Why is the concept of scarcity important to the definition of economics? Discuss the impact of rational self-interest on each of the following decisions. Suppose you go to a restaurant and buy an e..
This grazing land was for whole town and families could allow their flock of sheep to graze free of charge. Why is it that grazing land was not protected by individual families.
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