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If an economy experiences an improvement in the average level of it production technologies, then, in the long run, both GDP and GDP per worker will increase.
How many of the workers in the new equilibrium are native-born?
A gardener exclaims: “For only $1 in seeds I’ve grown over $20 in produce!” Besides the fact that most of the produce is in the form of zucchini, what other observations would a cynical economist make about this situation?
Suppose two firms are engaged in Cournot competition. The firms are identical, produce homogeneous products and have marginal costs = $0 and no fixed cost.
The traditional U.S. auto industry (the Big Three) has struggled for many years against competition from foreign-owned automobile companies. Their struggle was dramatically heightened in 2008 with the world-wide credit crunch and economic slowdown. W..
Suppose that the U.S. government devalues the dollar by 10% and maintains the new rate by intervening in the foreign exchange market. The ________ of ________ will ________, ceteris paribus.
Main point(s) of the article-and a few specific and powerful details the writer uses to support the main points. If time: What you found most interesting and/or why you chose the article.
Explain the difference between absolute advantage and comparative advantage. Why is international trade theory based on the latter? Be sure to contrast trade theory with the earlier Mercantilist period. What was the shortcoming in Ricardo’s early tra..
The Einstein Bagel Corp. offers a frequent buyer program whereby a consumer receives a stamp each time she purchases one dozen bagels for $6. After a consumer accrues 10 stamps , she receives one dozen bagels free. This offer is an unlimited offer, v..
Determine the capitalized cost of $1,000,000 at time 0, $125,000 in years 1 through 10, and $200,000 per year from year 11 on. Use an interest rate of 10% per year. Show the standard notation, interest factor formula and solution
Identify whether or not each of the following scenarios describes a competitive market, along with the correct explanation of why or why not.
Your client, Tom, has come to you inquiring about retirement. He wants to know how much he needs to be saving at the end of each month to meet his goal
Patrick chooses to use his time ‘free-time’: (a) working out or (b) reading. Patrick currently has 20 hours a week to allocate to these two activities. It takes Patrick 1.5 hour to work out and .5 hours to read. Patrick enjoys both activities, Draw P..
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