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Assignment:
Locate a recent article (published within the last year) that discusses capitalism and economic market systems in the United States. You can use the Hunt Library, economic journals, newspapers, new stations, or other credible sources to locate an article. Analyze your article, review the assigned readings and then discuss the concepts of capitalism, market, and economic systems and policy. Address the following in your discussion.
1. Explain how capitalism began.
2. Discuss different market economic systems.
3. Evaluate the pros and cons associated with capitalism and market economic systems including answers to these questions:
For each of the given below statements, state whether the unemployment is structural or cyclical.
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Suppose that the amount of labor available for the production of pianos and cars is now 60 hours. You are told that Melodia is currently producing on its PPF and Melodia is producing 3 cars. Calculate how many pianos Melodia is making.
What is the difference between an export tax and an export subsidy? Which instrument are domestic consumers likely to prefer? Why?
Each week, Mara works l hours per week to consume x1 and x2 quantities of two goods. She has L hours of time at her disposal per week.
What is a product or service that many countries would think that the United States specializes in to the degree that they purchase it from us?
Does this goal still apply to our understanding of the role of the business firm in society? Provide examples to support your understanding. Does government or society have a role to play in expanding the Friedman discussion?
Because net exports are counter-cyclical, analyze how the following change during an economic expansion: Consider the case in the context of a flexible exchange rate and a fixed exchange rate.
A fund is to be donated by wealthy man to provide scholarships to deserving students. The fund will grant P5,000 for each semiannual of the first five years, P8000 for each quarter of the next five years, and P10,000 each month thereafter. The sch..
Determine which type of regulation is used for each of the a. Preventing a merger that the government believes would lessen competition b. The activities of the Food and Drug Administration c. Regulation of fares charged by a municipal bus company
Do you think unemployment insurance benefits would influence the unemployment rate? Suggest some actions that the U.S. government might take to create more jobs.
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