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1. Please read ECON Chapter 3, Section 3-2b. Compare and contrast Sole Proprietorships, Partnerships and Corporations by describing differences in the following areas. a. Ownership b. Financial Disadvantages c. Position in the US Economy
2. Please read ECON Chapter 3, Section 3-3a. In your own words, please list and briefly describe each of the seven roles of government and provide one specific example not listed in the textbook of the United States Federal Government acting in that role.
3. Please read ECON CH 3, Section 3.3e. Compare and contrast the following and offering your opinion on which one of each pair of tax strategies is the most appropriate. a. The “ability to pay” or the “benefits received” taxation principles b. “Progressive” taxes or “regressive” taxes.
Hair Re-Growth Company has developed a new product and is selling its product as fast it can be produced. As a result, the company is predicting growth of 20% per year for the next four years. What is the expected dividend each year for the next four..
Consider a two player game in which each player has only two strategies.
What factors do you need to consider if you expand your business regionally? Nationally? Globally? What do you need to consider in order to expand into each market? Does the nature of a business (the services provided) impact the location of the expa..
Compute point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points.
When a perfectly competitive firm (that sells its good for $18 per unit) hires 1 unit of factor X it produces 35 units of output and when it hires 2 units of factor X it produces 55 units of output. Marginal revenue product of the second unit of fact..
Assume the demand for a good is price inelastic. This means that if price decreases by 50 percent, quantity demanded will;
Explain is a high degree of market concentration a boon or threat to consumers. What is the strongest argument on either side.
Assume that your household gets a machine that cost Lesley provides you with food. Illustrate what would that do to your labor supply.
The market for gilders is initially competitive and the market demand is: P=315- 0.6QD . The combined marginal costs of the firms in the gilder industry are: MC= 9+ 0.3Q. Draw the demand, and marginal cost curves. Calculate and show how much these fi..
Consider the following aggregate economic data regarding all the health care goods and services in a given country: Tylenol X-ray Physical therapy Year Price Aggregate expenditures. For each of these three health care goods and services, is the incre..
A typical economy is described by the following equations: • Y = K 0.5 L 0.5 (production function) • b) s = 0.2 (saving’s rate) • c) d = 0.1 (depreciation rate) Using the Solow model, answer the following questions: a. What are the steady state value..
If the economy is in a recession, what sort of fiscal policy changes would tend to bring it out of recession? Discuss b) What is the difference between inflation and a relative price increase? Explain c). If the inflation rate is 4% and the nominal r..
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