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1. Explain the role played by consumers, business, and government in a market economy. Hint: Focus on the factor and product markets.
2. Compare and contrast centrally planned economies and free market economies.
3. Using examples of land, labor, and capital, explain why economists believe that all goods and services are scarce.
4. What are the trade-offs between free enterprise and government intervention associated with the United States' antitrust policies? Give one example of a U.S. government action to regulate or break-up a monopoly.
Based on your own Internet research, track the changes in the Euro/USD exchange rate since the Euro was launched in 2002. Which currency has appreciated and which has depreciated over the past 13 years? Provide two reasons why this has occurred.
Dakota spends $56 a month at allthemovies.com on film-noir (FN) and sci-fi (SF) movies, which typically cost $14 each. The graph on the left shows her budget constraint and optimal consumption, point A. This month, SF movies are on sale for $7. Answe..
Explain how international trade affect economic well-being? Also, who gains and who loses from free trade among countries, and how do the gains compare
Describe a problem in replacement analysis in which the replacement was being considered due to the risk of catastrophic failure or unplanned replacement
Raymond decides to set up a lemonade stand every weekend for the next four weeks to save up for the latest x-men comic. He has to pay his brother Robert $10 as a one time payment for him to not bully Raymond or drive his customers away.
A company for the production of men's shoes has a chain of stores. The company offers 15 different models at a relatively affordable price.
Consider both the potential positive and negative impact of the Digital Transformation disruption.
What is the First Welfare Theorem and what is the the significance of the First Welfare Theorem on economic policy?
People “by their own toil keep in existence a reality which enslaves them in ever greater degree”. Explain what this statement means in your own words. Do you think this is true in the US in 2015? Explain your answer.
Describe expansionary/contractionary discretionary fiscal policies. Describe non-discretionary fiscal policies and explain when and why they col increase a budget deficit.
If the two firms could collude and agree on Explain how to split the total profits, Illustrate what outcome would they pick.
What is meant by social contract? Discuss some of the issues related to the current social contract. Is a major rethinking of the current social contract import
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