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Articulate how macro- and microeconomics come into play in the context of company decision-making in a global business.
As part of your answer, indicate what role the theory of diminishing marginal utility plays?
How might I have reallocated my spending so as to maximize my total satisfaction from pizza and coffee?
Describe the various components of fluctuations in economic activity over time. Because economic activity fluctuates, how is long-term growth possible?
Bureaucracy and Representative Democracy How do the incentives and feedback for government bureaus differ from those for profit-making firms?
What is the underground economy? What is the impact on the underground economy of instituting a tax on a certain productive activity?
What role might the underground economy play in lessening the drop in productive activities?
What does this article reveal about the role of politics in setting antitrust policy?
Find an article about the effects of poverty and discrimination in a foreign country. Has discrimination increased poverty in that country?
Global Economic Watch Go to the Global Economic Crisis Resource Center. What is the difference between absolute and relative poverty?
Welfare Reform What has happened to the number of people on welfare since 1994? What explains the change over time?
Choose one of the topics listed and read the overview for that topic. Analyze marginal social benefit and marginal social cost involved in your chosen topic.
Why is the program described an example of command-and-control environmental regulation or of the economic efficiency approach?
Why is the net gain equal to triangle abc, even though consumers now pay a higher price for electricity?
What other condition is necessary? What did Coase consider to be an efficient solution to a negative externality?
Why does the assignment of property rights to the stream lead to the same (efficient) level of pollution whether the firm or recreational users own the stream?
Why does a solution to the overharvesting of timber in the tropical rainforests require some form of international cooperation?
Distinguish between hidden characteristics and hidden actions. Which type of asymmetric information contributes to the principal-agent problem?
Search with Imperfect Information Fifty years ago, people shopped by mail using catalog. What reasons can you suggest for the growth in these forms of shopping?
Boundaries of the Firm Define vertical integration. What factors should a firm consider when determining what degree of vertical integration to undertake?
Rationale for the Firm Explain Ronald Coase's theory of why firms exist. Why isn't all production consolidated in one large firm?
Read about an IPO within the two most recent years. How much money was raised? For what will the money be used?
Which outcome would benefit the economy more, Jane Wyler having a patent on all reusable dry-cleaning bags or Rick Siegel developing a cheaper reusable bag?
How many carts would they buy at an interest rate of 8 percent? How many would they buy if the interest rate is 3 percent?
In many states with lotteries, people can take their winnings in a single. What factors should a winner consider in determining how to take the money?