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From perspective of the social planner with utilitarian social welfare function, find the socially optimal amount of tuba playing each day?
Compute output per worker and consumption per worker for each country. Which country has highest output per worker? Highest consumption per worker?
Choose the specific consumer behavior and create "mini case study" which highlights workings of marginal utility and how it affects consumption pattern.
Provide specific examples and explain how diminishing marginal productivity affect marginal revenues and profits of firms.
Choose the specific industry from one of market structures and describe how it would function and maximize profit.
Your task is to critically estimate implications of economic environment of individual countries on firm's internationalization strategies.
Is company likely to get its desired target profit of $4,000,000 or more? Support the discussion with financial analysis.
Describe how short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve are all related.
Describe how the active policy varies from the passive policy. How does monetary policy influence aggregate demand in short run?
Describe why Fed can attempt to target either changes in money supply or changes in interest rates, but not both.
The U.S. economy currently concerned about unemployment, inflation, recession, etc.? Write fiscal policies and monetary policies would be appropriate at this time?
Bill asks you to come to his rescue and give missing data in five spaces identified as A, B, C, D, and E. Find the lowest price at which firm produces an output? Describe why.
Determine the following: Profit maximizing output; Approximate mark up over cost; In long run, the price falls to $7.50. Why? Find the new profit maximizing output?
Recognize which ethical theory best fit the decision-making process at time. Write the values reflected in decision you made.
Write down the impacts of government and market imperfections (failures) on price elasticities of demand and supply?
Assume that residents of Greenland play golf incessantly. In fact, golf is only thing that they spend their money on. Find the inflation rate in 2011?
What would occur to employment and unemployment numbers if the increasing number of retired persons decided to set up websites and take benefit of Google's AdSense program?
Write down the limitations of GDP in measuring total output and national welfare? What products (services) are excluded from the GDP computation?
Official unemployment rate is the imperfect measure of joblessness. Provide examples on how definition of unemployment rate overstates or understates number of jobless people in economy.
Describe the growth theory that you think best explains economic growth. Say why you think that this is best theory.
Is Big Mac overvalued or undervalued, and what does this recommend for that country's GDP? Describe how we deal with problem of price differences between countries.
Draw the PPF for Scotland's economy showing situation before and after collapse of Silicon Glen. Describe your PPF.
What factors find out demand for British pounds in foreign exchange markets? How are exchange rates determined under the flexible exchange rate system?
At that price, find the firm's profit or loss? Will firm continue to produce in short-run? Carefully describe your answer.
How can sustainable long-run economic growth be realized? Write down the roles of government in attaining sustainable long-run economic growth?