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Economic growth is a major issue in the current presidential election. The Romney campaign argues that tax cuts for investment is the best way to encourage economic growth. The Obama campaign says that government spending on infrastructure and education is the best way to encourage economic growth. Is it correct to say that the Romney campaign is using a "Neoclassical" model and the Obama campaign is using a "New Growth" model?
How do you think the check tax affected the currency-deposit ratio and use the model of the money supply under fractional reserve banking to discuss how this tax affected the money supply.
Suppose a production function is given by f(K;L) = KL 2 What combination of labour and capital minimizes the cost of producing any given output?
Provide a business or political example of the prisoner's dilemma from the field of game theory. What is the payoff for each participant in your example.
The Los Angeles retail market for unleaded gasoline is fiercely value competitive. Suppose situation faced by a typical gasoline retailer when the local market price for unleaded gasoline is $2.50
You are trying to decide whether to buy some laptop computers for your business in either Canada or in United States. Looking at identical machines on the Dell Canada and the Dell US web sites, you find that they sell for US $2000 (US dollars) in ..
Illustrtae what is the Nash equilibrium without an enforceable contract. Explain why this is the likely outcome.
Describe how the budget constraint of a household in a two-period model is affected by each of the following changes. In each case, do you think that the household is better off or worse off, or is the answer ambigous? If ambigous, what does the a..
A company in a perfectly competitive industry has invented and patented new process for making a plastic product q. The new process lowers the company's average cost curve,
State are you for or against free trade. Are you for or against NAFTA? What is the economic basis for trade
What does gross domestic product (GDP) tell us? How did GDP change from 2008? What caused these changes? What is real GDP? What was real GDP in 2008 and has it changed since 2008?
Discuss the components of Gross National Product? How does it understate aggregate production in Third World countries where substantial economic production may be consumed directly
Explain how many tonnes of wheat and how many tonnes of copper ingots will be produced if each country specializes.
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