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1. What is the relationship between resources and the economy.
If the government were to make university attendance mandatory and subsidize tuition costs with tax dollars, how might this affect a nation's economic growth?
Cite at least two other ways that consumers may be "paying" for these goods.
Assume an allowance of 16 percent of job time. Find the standard time for this operation.
What will be the percentage change in the index resulting from a 10 % increase only in the price of A? A 10% increase only in the price of B?
Who is obtaining the economic rent for the lucrative push cart location? How much economic profit is the push cart owner most likely earning?
Julia must choose between two different designs for a safety closure, which will be in use indefinitely.
How is the liquidity-money (LM) curve derived? What impacts it and how does it impact the global economy? Use examples and support your claims.
Think of a recent decision you made regarding your career. What was your opportunity cost for making that choice? What was your "next best alternative"?
Using the put-call parity theorem, determine the value of a T period put of the stock described in problem 1 with an exercise price of $110.
Proponents of free market systems argue that free enterprise leads to more efficient production and better response to changing consumer preferences.
Explain a production possibility curve. Differentiate between points on the curve, points outside the curve, and points inside the curve.
Michael Douglas starred in the movie as Gordon Gecko - a brilliant, driven and corrupt stock broker. At one point, Gecko utters a famous line, "Greed is Good."
Question: Does capitalism contribute to more poverty or help control it? Why?
What do we mean when we refer to the basic economic problems of what to produce, how to produce, and for whom to produce?
When do assumptions made in conjunction with economic theorizing have to be realistic? Can unrealistic assumptions provide useful outcomes?
What institutions might arise in the free market to help a person decide whether to accept or reject a particular private monetary note?
Calculate the velocity of money when nominal gross domestic product (GDP) is $1 trillion and the money supply is $250 billion.
Question: Apply the basic concepts and "big ideas" of economics to the relationship between money and happiness.
From an efficiency point of view, should the United States follow Europe's lead and shift the emphasis toward emissions charges? Why or why not?
What are the advantages and disadvantages of each approach? Which do you think represents the best approach? Why?
What per-unit charge should be imposed? How much revenue would the control authority collect?
Compute the cost-effective allocation of control responsibility if a total reduction of 21 units of emissions is necessary.
Why are economic incentive systems more or less ethically justifiable than the traditional regulatory approach?
What would the effect of this technological change be on the static efficient level of effort and the size of the static efficient level of harvest?