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How do political, legal, and economic forces shape national culture? What characteristics of national culture do you think have the most important effect on how successful a country is in doing business abroad?
Select a news article dated within the previous two months and analyze the issue using the economic concepts and theory learned in this class. Include at least one graph developed in our course.
A more serious problem with input-based pay systems (e.g., a wage her hour), relative to an output--based system, is:
Suppose that the world price of oil is roughly $60 per barrel and that the world demand and total world supply of oil equal 34 billion barrels per year (bb/yr), with a competitive supply of 20 bb/yr and 14bb/yr from OPEC. The equation for the long-ru..
Set up a table oe spreadsheet for output (Q) price (P) total revenue(TR),marginal revenue (MR) total cost (TC marginal cost (MC) average cost (AC) profit (P). Establish a range for Q from 0 to 1000 in increments of 100 (i.e, 0, 100, 200....1000). Wha..
If an industry has no barriers to entry, no product promotion strategy, a standardized product type, and a very large number of firms operating within it, the industry can be said to have.
According to U.S. Department of Agriculture econominist Karl Fox, "An increase of 10 percent in the farm price of the "average" food product would be associated something like a 4 percent increase in the retail price and perhaps a 2 percent decreases..
Carmen's preferences are such that she is always indifferent between watching two movies or seeing one basketball game. Suppose that Carmen has an income of $90. If a movie costs $10, and a basketball game costs $18, what will Carmen's optimal consum..
Illustrate what monetary policy tools should the Fed use to achieve the results you recommend.
Purchasing Power Parity (PPP) implies that
Suppose a bank discovers its reserves will temporarily fall slightly short of those legally required. How might it remedy this situation through the Federal funds market? Now assume the bank finds that its reserves will be substantially and permanent..
A firm can hire 10 workers at a wage of $10 but has to pay a wage of $12 to ALL workers to get the 11th worker. What is the marginal cost of adding the 11th worker.
Using an aggregate supply/aggregate demand model illustrate and explain the short run effects of decreasing government spending (assuming you began in a short run and long run equilibrium).
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