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Government support of public education
1. Why does the government support public education when the private sector also provides this service? Are these reasons the same as those for government providing services such as police protection and the National Weather Service?
2. What is the basic thrust of Keynesian demand-side policies? Why was economic policy based on Keynes' ideas effective in promoting prosperity in the 1960's? Why was this policy less effective in the 1970's?
3. Explain why labor productivity is important but not the only key to improvement in living standards.
A monopolist faces the demand curvep =11 - Q , where Q is measured in thousands of units. What is the monopolist profit maximizing price and quantity? What is the profit?
Which of the following is true for perfect competition, monopolistic competition, and monopoly?
Elucidate the price should you charge for a midsized automobile if you expect to maintain your record sales.
Suppose that the car manufacturer allows the car dealer to return all unsold cars at the end of a recessionary year. What is the car dealer's profit in a growth year and in a recession? What is their expected profit?
For a perfectly competitive firm the price is $2 per unit. At this price the firm is producing and selling 10,000 units. It costs $1.50 to produce the last unit. Should the firm produce more? Less? Why?
Explain why is it that increased productivity leads people to take out more loans - which then leads to more growth.
Determine the profit-maximizing prices both firms will charge. In addition, calculate the price-cost margin for each firm and indicate which has more pricing power and why.
Explain her change in consumption in terms of income and substitution effects (give a precise quantitative answer). Is this a Griffin good (how do you know)?
Illustrate what conclusions can you draw about this period by comparing this cycle to the previous business cycles. You may want to check the links to the two most recent Announcement Dates for further information.
Elucidate what were some changes of the demand and supply fconditions that lead to the housing market bubble and collapse.
Assume that potential rural-urban migrant would work for two periods ( of some length) in either the rural or the urban area.
Describe the economy's stage in the business cycle and evaluate current macroeconomic conditions.
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