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Prison LabourDefine prison labour and explain how it affects different cultures and societies and explain the rise and fall of labour in prisons?
Pros and Cons of the Consumer Price Index
What is the consumer price index (CPI)? How is it measured? What are the pros and cons of using the CPI as a measure of the cost of living? Use examples.
Explain how the distinction between expected and unexpected inflation is important to the distributional effects of inflation.
Social Dynamo Corporation earned profits last year of $49 million on sales of $500 million. During the same period, its major competitor - EIO Corp.- enjoyed sales of $490 million and earned profits of $52 million.
Make a monthly sales forecast for the firm for 2001. Why would the managers of the Chemical Company want monthly sales forecasts of this kind.
What is opportunity cost? Explain with the help of an example, why assumption of constant opportunity cost is very unrealistic? Explain law of demand with the help of a demand schedule and demand curve.
Lisa is a lawyer and there are two tasks that she hates to do, even though her job requires it. Draw a graph with hours reading on the horizontal axis and hours writing on the vertical.
A monopolist has a constant marginal and average cost of $10 and faces a demand curve of Q D = 1000 - 10P. Compute the monopolist's profit-maximizing quantity, price, and profit.
Use the demand curve to help you calculate the number of DVDs rented per month and the amount of consumer surplus derived at a rental price of $5.
Given the table of marginal utilities for CD's and century books, calculate the optimal quantity and total utility at equilibrium. Draw Sarah's budget line for part a and her budget line for part b on the same graph.
Illustrate what type of fiscal policy did the Congress enacted while the effects of Hurricane Katrina.
Imagine a person's utility function over two goods, X and Y, where Y represents dollars. Specifically, assume a Cobb-Douglas utility function:
Illustrate what fiscal policies are needed to fight unemployment
Is your employee affected by increases in the minimum salary. In what way is your employer affected by minimum wage increases.
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