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Draw a typical demand curve for competitive markets, monopolistic competition, and monopoly. Which of these demand curves is the most inelastic? Why?
Do you think your friend will be able to achieve his dream in five years? What do you expect to happen to his firm's profits in the long run?
As a result of their lobbying efforts, a new law caps the maximum ticket price to any sporting event at $50. Will more people be able to attend the games?
Analyze what happens when local governments set the meter price too low. Why do you think the price is set below the market-clearing price?
Find the equilibrium quantity of labor. What happens if the minimum wage is $8? Does this cause a surplus or a shortage?
What happens to tax revenues as tax rates increase? Explain how consumer surplus is derived from the willingness to pay.
Explain how producer surplus is derived from the difference between willingness to sell and the market-equilibrium price. How do economists define efficiency?
Why do economists focus on consumer and producer surplus and not on the possibility of consumer and producer loss?
Illustrate what will happen to the consumer surplus, producer surplus, tax revenue, and deadweight loss on a supply and demand graph.
Describe the consumer surplus from the original purchase and the additional surplus generated by the resale of the cannon.
If the demand for blueberries increases, what will happen to the size of the consumer and producer surplus?
Illustrate the impact of lower production costs on the supply curve. What happens to the size of the consumer and producer surplus?
Find the equilibrium price and quantity of tickets sold. Calculate the consumer surplus at the equilibrium price and quantity.
How would a $2,000 subsidy on the purchase of a new hybrid vehicle impact the consumer surplus and producer surplus in the hybrid market?
Is it possible to use bargaining to solve externality problems involving many parties? Describe all of the ways that externalities can be internalized.
Write a 3-4 page paper in APA format examining the advantages and disadvantages of both plans.
How is your analysis of who should foot the bill affected by the fact that many of the Irish bank creditors were foreign (many in the EU)?
How might this problem be resolved, or resolve itself, going forward? Does the EM decision to accumulate the reserves look like a wise one, after the fact?
What is the probability of default in Delinquia? What does Delinquia consume in disaster years? In nondisaster years?
Calculate the Sharpe ratio for these trades. Based on these data, does the forex market in question satisfy EMH?
What is the price of a house maintenance visit in each country? What is the Richland wage in R$ per day? What is the Poorland wage in PP per day?
Note the following accounting identity for gross national income (GNI). Show that domestic investment is equal to domestic savings.
Compute the official settlements balance (OSB). Based on this number, what happened to the central bank's (foreign) reserves?
It may take you some time to become familiar with how to navigate the website. You need only refer to Table 1 on the BOP accounts.
Identify other possible sources of the current account deficits. Do current account deficits necessarily indicate problems in the economy?