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1. Which of the following is an ideal condition for a free market? Select one: a. There are no parties, institutions, or governmental units regulating the quantity of the goods being bought or sold in the market. b. There are many buyers and many sellers, and all of them have a substantial share of the market. c. The participants in the market have strong preferences as to which seller or buyer they would deal with. d. All the buyers and sellers in the market are free to leave the market but there are entry barriers. e. All buyers have full knowledge of what other buyers and sellers are up to including quantity of goods sold, but not the prices and quality of goods being sold.
2. According to the Freedom of Information Act, _____. Select one: a. a federal agency is required to respond to a document request within 10 days b. all the documents are available for public inspection c. requesters are not required to pay the cost of locating and copying the records d. any person has a legally enforceable right to access to geological information concerning wells e. there are a total of five exceptions to the Act
For each of the following shocks, describe how monetary policymakers would respond (if at all) to stabilize economic activity. Assume the economy starts at a long-run equilibrium.
Suppose there is an options market in SO2 permits, where each permit entitles one ton of SO2 emissions. Suppose that running a scrubber costs $65 per year per ton of SO2 removed, has a capital cost of $30,000,000, and an expected life of five years. ..
Illustrate what is happening to the housing market in your area. Are you still seeing alot of forclosed homes?Can you describe the housing demand and supply factors.
Which of the following stands true of corruption?
Suppose the CFO of an American corporation with surplus cash flow had $50million to invest last March 20, 2015 and the corporation did not believe it would need to utilize these funds to retool or expand production capacity for 1 year. What must the ..
What are the main advantages and disadvantages of the ethnocentric, polycentric, region-centric, and geocentric approaches to staffing policy? When is each approach appropriate? Be sure to relate the different global staffing approaches to strategy. ..
Toys are produced by a competitive industry. Santa Claus gives away one million free toys each year. It costs Santa nothing to produce these toys. Use a diagram to show how the existence of Santa Claus affects the supply of toys, the price of toys, t..
If consumers perceive several goods to be homogeneous, they believe the goods to be,
In microeconomics we are concerned about markets being in equilibrium. This refers to the point at which price, supply, and demand, are in equilibrium. What it means to have a market in equilibrium, and how changes in supply or price would affect thi..
If the CPI was 110 last year and is 121 this year, what is this year’s rate of inflation? In contrast, suppose that the CPI was 110 last year and 108 this year. What is this year’s rate of inflation? What term do economics use to describe this second..
Moving beyond this particular episode, briefly discuss how do asymmetric information, adverse selection, and moral hazard affect the future of health care policy in the United States.
You are considering two alternative plant layouts, A1 and A2, to improve its current layout. The cash flows are shown below. The first costs represent the expenses of rearranging the current layout to the alternative new layout and the annual savings..
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