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The Republic of Ireland (what most of us refer to as simply Ireland), is an independent country but borders on Northern Ireland; the two countries make up the entire Island on which they exist. If you were the head of Great Britain’s Central Bank, and/or the Prime Minister, what actions would you take to minimize the impact on the economy? If you were the head of the Republic of Ireland’s Central Bank and/or the Prime Minister (called Taoiseach) what actions would you take to manage the impact on your economy in view of the expected actions of Great Britain’s leaders?
In 2012, Peter Pan’s Pizza Pizzeria produced and sold 10,000 pizzas at a price of $8 each. In 2013,Peter Pan’s Pizza Pizzeria produced and sold 12,000 pizzas at a price of $9 each. How much did Peter Pan’s Pizza Pizzeria contribute to nominal GDP (in..
Why profits encourage entry into purely competitive industries and explain how losses encourage exit from purely competitive industries.
An elderly physician has built up his own practice into a quite valuable business. Now that he is thinking of retiring, he wants to take on a partner to learn the business and eventually buy the practice in three years. Discuss the plusses and minuse..
Recreational use of marijuana has been declared legal in Oregon. How might this information affect the market for marijuana in Oregon?
Which of the following is one of the differences between the Articles of Confederation and the new Constitution created during the Constitutional Convention in 1787?
Employment and unemployment are big issues in America. Every week, the news outlets report the number of new unemployment claims made at unemployment offices around the country. We typically have 150 million people as part of the workforce.
Decrease costs across the board. Find out elasticities of the products and increase the price on the inelastic shoes.
Draw a diagram showing the combined labor market for secretaries, nurses, and teachers. Draw a diagram showing the combined labor market for all other fields. In which market is the wage higher? DO men or women receive higher wages on average?
Which of the following summarizes the impact of population growth on the labor market?
Suppose the Red Sox can segment their fans into young fans and senior citizens. Young fans have the demand curve p = 120-10G (MR = 120 – 20G). Senior citizens have the demand curve p = 60 – 10G (MR = 60 – 20G). Assume that MC = 0. What are the equili..
Assume that major wheat producers in the world increased their land under wheat by 30 percent. Graphically show the effect of increase in land under wheat on the grain market.
In sharp contrast to the oil shocks of the 1970’s, the price of oil substantially declined in the early part of the 1990’s. Can this explain the good performance of both inflation and unemployment in the 1990’s? What has been the probably effect on t..
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