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Discussion Question
Please respond to the following:
• It's common knowledge that labeling has become global. Examine the labeling regulations that your chosen country has (Japan). Give examples of at least two labeling regulations that benefit consumers. Select one of these regulations and review its effect on manufacturers, suppliers, and distributors, as it relates to your importing of shoes into your country.
What has happened to the price of crude oil in 2015? What has happened to the demand for crude oil in 2015? Is there an economic theory that supports this relationship? Support your answer with a diagram.
Suppose that the substitution effect of an increase in the wage rate exactly offsets the income effect as the hourly wage increases from $12 to $13. What would the supply of labor curve look like over this range of wages? Why?
If the marginal cost is $10 per unit, what is the firm's monopoly-optimal price?
What is the Phillips curve? Is the curve completely useless or do you think it can have some use in today's economy? Why or why not?
How is unemployment measured and reported? What is a discouraged worker? Are they included in the basic unemployment rate? Are they included in any measure of unemployment?
Using the utility function: U (x, y) = x^gamma + y^gamma , 0
Choose a perfectly competitive supplier or industry. Briefly explain the operations of this firm or the firms within the industry. Do you think consumers would be better off in this market if there was less competition? In other words, would cons..
(a) Find Clear Vision's profit-maximizing output and price. Determine the resulting profit for Clear Vision. (b) Suppose that Box City imposes a (specific) tax of t = $1 per unit of service. Find Clear Vision's new profit-maximizing output, price, ..
GDP growth rate the business cycle, fiscal policy and level of unemployment, monetary policy and interest rates, international trade, and demographics.
Democracy has changed dramatically since its original application in ancient Athens. Describe the evolution of democracy by comparing and contrasting direct democracy with representative democracy.
Question 1: The article calls for public policy initiatives to address animal welfare and environmental concerns associated with dairy farming. With reference to economic concepts covered in this course, explain why the government might want to in..
Illustrate what is the labor variance for the month. Illustrate what is the labor efficiency rate for the month.
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