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Question 1:
You have been employed as an economist to advise the department of health and the federal government about the following issue. the minister has argued that raising the tax on alcohol is the most effective way to reduce alcohol abuse in our society. do you agree or disagree? explain why or why not. (500 words)
Question 2: Explain the difference between comparative advantage and absolute advantage. (500 words)
rationale
the question addresses the following learning outcomes.
be able to apply demand and supply analysis to make range of market related decisions.be able to identify the critically evaluate opportunities for specialization and exchange.be able to make decisions that incorporate relevant benefits.and cost analysis.
marking criteria
academic writing and applying economic principles and theories to labour market issues.
Explain the role culture may play in influencing entrepreneurship both at the individual and social level. Define culture in your response.
The purchase of a car requires a $ 24,587 loan to be repaid in monthly installments for four years at 12% annual real interest rate. If annual inflation rate is 4 %, find the exra amount to be paid in 20th month due to inflation.
Select the most serious disadvantage of globalization (in your opinion) and make at least one recommendation
Consider two people involved in a marriage or relationship. If, when one person is caught cheating on their agreement, the other cheats once or goes on a one time spending spree, then they are using a:
After the various crises of the 1970's, the US economy recovered to some degree, but the era (1981-2008) was markedly different from the ‘golden age’. Name and discuss a few of the key distinctions between these two economic eras (NOT the crisis year..
Given the rapid pace of technological change and financial innovation in financial markets nationally and internationally, would it be economically efficient to not deregulate banking? Explain.
If the farmer rented her land from a landowner,would she have the same incentives to control soil erosion. What would the landowner have an incentive to control erosion.
How great an open market purchase or sale of securities should the central bank undertake to restore the original interest rate.
Discuss the strategy at HK Disneyland in the context of standardization versus differentiation of attractions.
What are the disadvantages of setting up a private option in the Beveridge model?
In January of this year US equity markets were rattled by signs of a slowdown in growth of the Chinese economy and other emerging markets, collapsing prices of oil and stagnation in most of the Euro zone countries..Discuss the advantages and disadvan..
1. How does the theory of the firm differ from short-term profit maximization? Why is the former superior to the latter? 2. What effect would each of the following have on the value of the firm? explain.
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