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Q1. Throughout 2nd World War, U.S. prisoners of war utilized cigarettes as a form of money. Cigarettes were used to purchase something that was for sale in the prison camps. As we have discussed conversely that money should possess the qualities of durability, portability, divisibility, uniformity, ease of recognition and scarcity, and discuss the advantages and disadvantages of cigarette money in this prison economy in terms of these 6 criteria.
Q2. As to think take some time and illustrate about the ways in which you're learning in this class relates to the real world. Illustrate the knowledge you achieve been valuable in helping you understand or evaluate events or policies? Explain is there any present events in the news that you can directly link to concepts or theories covered so far?
How would a downward change in the money supply affect you personally. How would it affect your career. What impact would rational expectations have on your decisions in this situation.
Assuming oranges operate in a perfectly competitive market, use a well-labeled demand and supply model to explain how market equilibrium price of oranges is determined.
Identify those who gave us the concepts of monopsony and human capital.
Board of directors has directed you to choose an output level that maximizes the firm's profit. You have an incentive to maximize profits because your job and salary depend on the profit performance of this company.
Compare the consumption levels of workers in both countries. Explains the diversity between the countries.
As vice president of sales for a rapidly growing company, you are grappling with the question of expanding the size of your direct sales force.
What can you provide as advice to a manager concerning their choice on the quantity of labor and quantity of capital.
Michael spends $10 a month on both Pez dispensers and Superman action. His marginal-utility-to-price ratio for the Pez dispensers is 40.
Think our company should take advantage of economies of scale by increasing our output, thereby spreading out our overhead costs.
If the marginal cost of planting and harvesting an acre is $7000 per acre for each of the five acres, how many acres should the farmer plant and harvest.
If she neither borrows nor lends, which project has the higher present value at the interest rate 50%. Which has the higher present value at an interest rate of 5%.
Compare the competitive price charged and quantity produced under perfect competition and monopoly. Other than identifying the presence of only one producer under monopoly, why do we tend to see this differential.
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