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In what way do your own plans for the future coincide with or depart from the occupations of your parents?
Economics is often called the science of scarcity. How can this label be applied to a society of considerable affluence such as our own?
What elements of tradition and command do you think are indispensable in a modern industrial society?
Assume that half of it were wiped out in some catastrophe. What would happen to U.S. productivity? To average U.S. well-being?
How does capital help human productivity? Discuss this in relation to the following kinds of labor: farm labor, office help, teaching government administration.
Can you see a relation between Smith's growth model and his market model? Would the growth model work if the forces of the market did not operate?
Describe what Smith meant by the invisible hand. What is the mechanism by which selfish interests are made compatible with-indeed?
Acquisitiveness is certainly as old as man. Can we speak of the origins of capitalism as being equally old?
Which ended slavery and displaced the southern semifeudal plantation system, could be considered part of the same transformation in America?
Why do you think this proves the validity of the Weber-Tawney thesis as to the importance of the Protestant Ethic in economic growth?
What activities of the merchant were so disruptive to feudal life? Are business activities today also the causes of social stress?
How much would your final decision hinge on what you anticipated for the future, compared with what you knew to be the situation today?
How many work for companies that provide goods or services for capital formation-that is, for investment purposes rather than for consumption?
What is the consumption level of the consumer in such a case? Provide an interpretation of this possibility.
In the 1980s both the United Kingdom and the United States had governments that aimed to cut expenditure. Why could any government now cut expenditure?
Discuss what factors might have been responsible for the growth of government expenditure between 1920 and 1940?
Explain the widely shared neoclassic economics argument for Mexican immigration. In your explanation please include both the macro and micro explanations.
How many units of soda will be traded if the government impose $2.50? What about if the government imposes a price ceiling of $0.80?
You are invited by two friends to resolve a dispute about the shared use of a car. By applying Pareto-eciency, what are you able to advise them?
The box contains ten milk chocolates and ten plain chocolates. Neither child likes plain chocolates. Describe the Paretoecient allocations.
How can the existence of fixed costs be incorporated into the production set diagram? After paying its fixed costs a firm has constant returns to scale.
If the price of good 1 is 1, at what price for good 2 will the firm just break even? Graph the firm's profit as a function of the price of good 2.
What are the advantages and disadvantages of vouchers as a method of improving equity and school quality?
What kinds of challenges exist in this kind of grants that are not a problem for grants within a country?