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What would be the impact of a reduction in co-payments? What is the impact on consumer surplus of offering some coverage for prescription medication?
you pay an admission fee to the park but you do not need to pay for individual rides. How do people choose which rides to go on?
However, if he raised soybeans, he could earn $200 per acre. Why is McCoy's currently earning an economic profit? Why or why not?
Alternative Measures of Profit Why is it reasonable to think of normal profit as a type of cost to the firm?
Economic Systems The United States is best described as having a mixed economy. What are some elements of command in the U.S. economy?
Why is the standard of living higher in countries where doing business is easier? Why do governments collect any taxes or impose any regulations at all?
How has the development of personal computer hardware and software reversed some of the trends brought on by the Industrial Revolution?
Find resources that are no more than three years old that describe tax rates in two foreign countries. Create an analysis of these tax rates in your own words.
Can you list negative externalities of driving in addition to the ones described in the article?
International Trade Why does international trade occur? What does it mean to run a deficit in the merchandise trade balance?
What's wrong with letting the market determine how much of this good will be produced?
Demand If chocolate is found to have positive health benefits, would this lead to a shift of the demand curve or a movement along the demand curve?
Analyze what variables influence the demand for a normal good? Explain why a reduction in the price of a normal good does not increase the demand for that good.
Give two examples of how you have observed the law of demand at work in the real world. How is the law of demand related to the demand curve?
Calculate which choice would result in the greatest return for your savings over the five years. Explain your answer.
You have narrowed your choice down to the two policies described below. Evaluate each policy and choose the one that you believe would be best for your family.
Economic Decision Makers Which group of economic decision makers plays the leading role in the economic system? In what sense are they supporting actors?
Does this mean that making uninformed decisions is irrational? How do you determine how much information is the right amount?
Analyze what considerations must be taken into account if such a decision is to increase profi tability?
Discuss how does microeconomics relate to macroeconomics? Micro Versus Macro Some economists believe that to really understand macroeconomics.
Read the article Going Green for Selfish Reasons. Are the companies described acting out of rational self-interest?
Choose one of the resources and write a summary in your own words. Especially emphasize how the resource is an example of microeconomics or macroeconomics.
In what year (approximately) was the unemployment rate the highest? In what year was it the lowest?
Is this conclusion always valid, or can it be invalidated by the law of comparative advantage?
Specialization and Exchange Explain how the specialization of labor can lead to increased productivity.