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It has been proposed that toll collection on the Massachusetts Turnpike, a key commuter route into Boston from the west, be discontinued. Proponents argue that tolls have long ago paid for the cost
1. Explain why no nation is interested in taking the first and unilateral step of cleaning up the air (Hint: consider public goods). 2. Why are governments pressured to solve the global warming probl
Do you think business cycles would exist, or be as severe, if these economic statistics were not reported on a regular basis or at all? Why or why not?
What happens when there is a surplus of imports brought into the U.S.? Cite a specific example of a product with an import surplus, and the impact that has on the U.S. businesses and consumers involve
Choose a product you have purchased in the past month from a clothing or shoe store. Describe how each of the 4 factors contributed to the elasticity of the good. Is the product considered elastic,
We often look at gross domestic product and how it relates to a recession. In the U.S. we recently went through an economic decline. Do you find people consume less overall when their is a downturn ec
Analyze how the law of demand applies to a recent purchase that you made. Describe how the product has changed in price and explain whether the price change is due to supply or demand. Did the change
Gail has purchased a relatively unknown Stradivarius violin with a value of $2,000,000 which she plans to play every day (and therefore must keep at home). Gail is risk-averse. She is concerned abou
Some apartment buildings hold contests, with monetary prizes, among the residents to see who can grow the prettiest garden. Using the concept of positive externalities, explain why it is worthwhile
Compare and contrast these three techniques: describe each and explain its strengths and weaknesses. If one method addresses a weakness in another method, explain.
Explain why the Fed can attempt to target either changes in the money supply or changes in interest rates, but not both. Your response should be at least 75 words in length.
economists sometimes use concentration ratios to evaluate whether industries are oligopolies. In this application, you will make your own determination using the most recent data available. You will a
Demonstrate how a minimum wage affects the unskilled labor market. Is the labor market perfectly competitive Can you find any examples of monopsonistic hiring What would a minimum wage do in a monop
Describe the relationship between unemployment and real and nominal wages. Which is more important and why What effects would either an increase or decrease in unemployment have on wages
As an industry moves from being a monopoly to a monopolistically competitive one (due to the entry of new competitors as the monopoly's patents expire, for example), what happens to the elasticity o
which is "In the late 18th century, the price of bread in New York City was controlled, set at a predetermined price.", and then show the shift in supply. assume that the predetermined price did not
Distinguish between private and social costs and use this distinction to explain why the air in cities is so polluted from automobile exhaust fumes. Examine how government can try to correct this ex
There is an Arithmetic Gradient Income from years 6-10 with a Base Annuity of $500.00 and an Annual Gradient G of +$50.00
Suppose the landlord lets the tenants do whatever they want. According to the Coase theorem, how might Ringo and Luciano reach an efficient outcome on their own What might prevent them from reaching
Using the information you gathered, discuss whether you believe the country is on a good course of economic growth and whether the macroeconomic policies are helping achieve this growth.
If the villagers together decided to achieve the allocation in part (b), what kinds of rules would the need to institute If they wanted everyone to benefit equally in the new system, what kind of ta
Describe developing countries and how they differ from industrial market economies. How can international trade aid development?
Why can't all the balance of payments accounts be in surplus? What factors determine the demand for British pounds in foreign exchange markets
How can two countries both be better off as a result of trade? How can tariffs protect U.S. jobs? Do tariffs lead to a net increase in jobs? Explain
How did the Bretton Woods system operate? What caused its collapse? Some think the current system of managed but floating rates is too unstable.