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Choose three of the five questions below. For each question, write at least a 2-3 paragraph response.
In your responses, be sure to refer to specific concepts from the readings, lecture notes, or discussions, and use these concepts to support your points.
1. Define the agents of socialization.
2. Compare and contrast the two major economic systems. Identify a shortcoming of each system.
3. How is socioeconomic status determined? Also discuss the major social classes.
4. Discuss the eight steps in the research model.
5. Discuss the types of social movements and the stages of social movements.
By using calculus show that the production function exhibits diminishing returns to labor.
A current highway project is estimated to have an average of $1,000,000 in annual maintenance costs upon completion. What is the capitalized equivalent of the perpetual annual maintenance costs for an account earning 6% annual interest?
In order to restructure some of its debt, General Motors decided to pay off one of its short-term loans. If the company borrowed the money 1 year ago at an interest rate of 8% per year and the total cost of repaying the loan was $82 million, what was..
Who of the following people are considered unemployed according to official statistics? (Mark off ALL who are considered unemployed.) choose which?
Among the types of costs faced by a firm (short-run costs, fixed and variable, as well as long-run costs), how cutting cost can be accomplished? What are some specific examples of how firms have used technology to lower costs?
For the Cobb-Douglas production function in Problem 6.7, in can be shown (using calculus) that. If the Cobb-Douglas exhibits constant returns to scale (a+b=1), show that Both marginal productivities are diminishing.
Which of the following market conditions in an oligopoly increase the probability that it will be able to maintain prices well above the competitive market level? Explain your answer briefly in each case.
Assuming that a merger faces some threats also that the industry decides on self-expansion as an alternative strategy.
How many autos will Ford want to produce in its new Kansas City plant? Ford announced that it plans to invest $400 million over the next two years in its auto manufacturing plant in Kansas City as it prepares to build a new behicle there. the $400 mi..
Kathy's Bakery is a local full-service bakery in Omaha, Nebraska. Kathy sells loaves of wheat bread for $3 a loaf. Of this amount, $1.50 is profit contribution. Assuming average variable costs are constant at all output levels, what is Kathy's total ..
Explain how fiscal policy (making changes to government spending and taxes) would affect aggregate demand (AD).
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price $2/unit of food. draw the budget constraint for the individual with the composite good on the y-axis and food on the x-axis..
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