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Question: Students: Now that most of you have atleast a basic working knowledge of our economic system (it's positives & negatives) as a result of your recent assignments, discussion questions, etc., it's time to expand your knowledge and perceptions of other planned economies. Refer to your textbook (or other sourses) to obtain a thorough comprehension of the features of each economic system: Capitalism, Communism, Socialism, Mixed Economy.
Discussion Question: After considering the characteristics of each alternative economic system coupled with your recently expanded knowledge of our capitalistic economy, discuss the advantages and disadvantages of these systems and which one would best serve the needs of the American people in general. Be very explicit with your answers and opinions.
The poll also showed that while 55 percent of people ged 18 to 29 had a favorable opinion of foreign trade, only 41 percent of people age 65 and over did. Why might younger people have a more favorable view of foreign trade than older people?
Where will you see more price discrimination: in monopoly-type markets with just a few firms or in competitive markets with many firms? Why?
A large number of criticism have been levelled against the United States Federal Reserve System. Conduct a web search on the criticism about the system. do you agree with these reviews? Why or why not? What changes would you recommend to the sy..
What is the incumbent's marginal cost function for a given capacity? Derive the incumbent's marginal revenue function. For k1 = 5, what is the incumbent's best-response function?
Presume that the economy has the following production function: Y/L = 8*(K/L) 0.5. Further suppose that s = 0.2, gL = 0.3, and δ = 0.1. What is the value of the steady state capital-to-labor ratio?
A lender made the following statement to a borrower: “You are borrowing $1,000, which is to be repaid in twelve monthly installments of $100 each. Your total interest charge is $200
Researchers have estimated the long run demand elasticity for almonds is -0.47, and the long run supply elasticity is 12.0. The short run demand elasticity for almonds is -0.30
Finally, Determine the outcome on equilibrium price and quantity of traditional Camera film. Keep in mind that if we are discussing changes to both supply.
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How may you apply what you learned about supply and demand from the simulation to your workplace or your understanding of a real-world product with which you are familiar?
If the price of Food, PF, increases by 8% but the price of Cloth, PC, remains unchanged, what is the effect on the incomes of the following groups in the Home economy: Workers and Capitalists
Describe an information asymmetry in this situation. Explain who is likely to benefit from this information imbalance.
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