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Explain how the Whig party collapsed in the 1850s over the competition with "Slave Power." How did the party's collapse transform American politics, via the Republican party and the elections of 1856 and 1860? Make sure to cite any direct quotes. Please answer between 200 and 300 words.
What is Marginal Utility? Why does it diminish? Explain verbally, and using appropriate math/symbols, the slope of the indifference curve. Write out the equation for and explain the “Consumer Equilibrium Condition” or, as it is sometimes labeled, the..
Graph Daniel’s budget constraint with potato chips on the vertical axis. Also write down the corresponding budget constraint equation. Then suppose that Daniel’s income increases to $60, what’s the change of Daniel’s budget line? Shortly after the in..
Elements of fiscal policy that move the budget toward surplus as the economy expands and toward deficit as it contracts are called ________.
Given the global financial crisis of 2007–2009, do you anticipate any changes to the systems of fixed exchange rates and forward contracts in the near future? Are the changes you envision strictly procedural or regulatory, or do you believe that some..
Iggy only consumes two goods: coffee and cigarettes. Three cigarettes can be traded for one cup of coffee in a free market, or one cup coffee can be traded for three cigarettes. Iggy initially has 12 cigarettes and 5 cups of coffees. Find an equation..
Explain why do equity holders care more about ROE than about ROA. If a bank doubles the amount of its capital and ROA stays constant, what will happen to ROE.
A monopolist can produce at constant average and marginal costs of AC = MC = 5. The firm faces a market demand curve given by Q = 53 —P. The monopolist's marginal revenue curve is given by MR = 53 - 2Q. Calculate the profit-maximizing price-quantity ..
Illustrate why did official money lose its meaning in Germany during the 1920s. What did the German government do or not do.
Some companies that outsourcing call centers during the 1990s have returned these centers to north America over the past decade. who has gained and who has lost as a result of the return of the call centers to this continent? Explain.
Suppose the government is considering a tax policy that will reduce taxes by $100. In the economy, household consume 80% of each additional dollar earned. Assume that the tax cut has no effect on GDP (Y). How will this tax affect consumption? Calcula..
Use the AS-AD model to describe what would happen to the price level and to the equilibrium level of aggregate output in the short run in the following situations: The Fed buys bonds in the open market during a period of low unemployment and no exces..
Why does the government intervene in the economy? Should they and what would the impact be if they did not?
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