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1) Discuss the vision that Pope Francis has brought to the Roman Catholic Tradition in the 21st Century. Reflect on what you see as Pope Francis message to the World in general and Catholics specifically as he lives out his role as successor to St. Peter who Christ said in his life-time "You are Peter and upon this Rock (a nickname for Peter) I will build my Church?
2) What are the key social issues that are so important to Pope Francis as he guides Christian Catholics at this time in history?
A monopolist has demand curve given by P = 100 –Q. The total cost is given by TC = 16 + Q2. Find the monopolist’s profit maximizing quantity and price. How much economic profit does the monopolist make? If this was a perfectly competitive firm, what ..
There are d democrats and r republicans voting in the US Presidential election. Each person decides whether to vote or not vote. The voters get a payoff of 2,1,0 if their preferred candidate wins, ties, or loses (respectively). Voters that vote incur..
There are 20,000 hours of labor for country A. 5 hours of labor are required to produce 1 unit of S, while 4 hours are required to produce 1 unit of T. If a world relative price is given as 2, and A's imports = 2,000, what are A's exports?
A total of $50,000 is borrowed and repaid with 60 monthly payments, with the first payment occurring one month after receipt of the $50,000. The stated interest rate is 6% compounded monthly. What monthly payment should be made?
A monopsony employer facing a perfectly competitive supply of labor would pay a wage equal to marginal revenue product. Wages for labor will be highest in labor markets consisting of perfectly competitive buyers and a monopolist. Equilibrium in oligo..
European Commission’s preference for a common competition policy is given by the following function: P=1−X, where P denotes price, and X denotes the level of spending allocated to such policy. Draw a diagram in which you illustrate the preferences of..
What is the uniform annual payment for 12 years is equivalent to the above payment if the interest rate is 8%?
In a competitive market, the market demand curve is Q = 28-2p and the market supply curve is Qs = -8 + 2p. Use a spreadsheet to answer the following questions. Determine the quantity demanded and quantity supplied for p = $4, 5, 6…, 14. Determine the..
Why might some argue that news stations ought to stick to reporting what is actually happening on Election Day rather than making projections? Projection may cause a bandwagon effect. Projections based on push-polls may be inaccurate.
Consider the market for North Face coats. Suppose average household income increases from $38 thousand to $54 thousand per year. As a result, the demand for North Face coats increases from 430 to 507. Using the midpoint formula, what is the income el..
Assume that the government increases its spending by $100 million to stimulate demand. In the long run, the effect of this spending is to
Assume that a one year bond that has no interest coupon payment with a maturity value (face value) of $1,000 sold for $900. Show the interest rate that this bond will pay when it matures. If the prices of similar bonds are selling next month for $950..
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