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A. Sources used to research this person 4-5 non-web based (Periodical, date, pages, etc. MLA) with works sited on the last page. Do not reference the course text book.
B. Summary: (three to five main facts about this person; please include important dates, school of thought, major contribution to economics, any impact(s) we are witnessing today, and any other relevant information you believe is necessary for us to know about.
C. Brief Personal Analysis (Personal opinions and reactions to the assignment are encouraged. Length of this section must be at least equal to the length of last Section B.
Suppose that the American imports of wine are a small part of total world wine production, draw a graph for the United States market for wine under free trade.
The general demand function for a good, Good A, is: Is Good A a normal good or an inferior good? How do we know exactly?
Recent health reports indicate that calcium is asorbed better in natural forms as milk, and at the same time, the cost of milking equipment rises. Examine the probable effects on the market.
Assume that as the result of recent labor negotiation, wage rates are reduced by 10% in the production procedure employing only capital and labor.
The demand for energy in the United States is often stated as persistently non-cyclical and not sensitive to both prices effects. Given such characteristics, explain the effect of each of the following on the demand or supply for gasoline.
Which of the following statements best states the demand for agricultural commodities?
One of the stumbling blocks of Voice over IP has been the implementation of a 911 service. The given story appeared on the newswires on Tuesday:
Office building maintenance plans call for stripping, waxing, and buffing of ceramic floor tiles. This work is often contracted out to office maintenance firms, and both technology and labor requirements are very basic.
Describe the difference between short run and long run as they are used in economics. Differentiate between Economics of scale and Diseconomies of scale.
Describe why personalized pricing or 1st degree price discrimination is g enerally more profitable than menu price. Why, if this is the case, do companies use menu pricing?
Is the market for coffee perfectly competitive and does the coffee market meet all six conditions of a perfectly competitive market?
Discuss and explain the income and consumption relationship make sure to describe marginal propensity to consume. If you received an extra dollar, how much of it would you spend?
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