Funds to the local police department

Assignment Help Macroeconomics
Reference no: EM131049504

1. Suppose that a local government decides to provide more funds to the local police department in order for the department to hire additional police officers. Is there an opportunity cost of this action? If so, how would you measure it?

2. Michael Jordan has more athletic ability than most individuals. Thus, he is more productive at most tasks involving physical skill. Explain why then, it is more efficient for Michael Jordan to pay someone else to mow his lawn.

3. Because of the quantity and quality of its resources, the U.S. has an absolute advantage in the production of many goods and services. Does this imply that the U.S. cannot benefit from trading with a developing country that has less productive ability? Why or why not?

4. Explain Ricardo's theory of comparative advantage

Reference no: EM131049504

Questions Cloud

Define an array of type integer : CS39-Lab6 Write an assembly language program to convert the following string to uppercase using string instructions lodsb and stosb.
Contrast the lytic cycle of infection of a dna virus : compare and contrast the lytic cycle of infection of a dna virus and an rna viruscompare and contrast the lytic cycle of infection of a dna virus and an rna virus
Wide range of experience for that next job opportunity : Do you agree that the trend now is to become less of a generic project manager and more of a specialist? If so, then how do you gain a wide range of experience for that next job opportunity?
Regular job and her personal financial situation : Suppose you have a talented scientist temporarily working for you on a client contract who is due to be transferred back to her regular job. Although you could do without her efforts at this point of the contract, you happen to know that she will ..
Funds to the local police department : 1. Suppose that a local government decides to provide more funds to the local police department in order for the department to hire additional police officers. Is there an opportunity cost of this action? If so, how would you measure it?
Compare and contrast two different approaches : To support your argument provide specific historical examples from at least two different African states. Which framework more effectively accounts for the political and economic trajectories of these post-colonial African states? Be sure to cite ..
Origins of the national jazz hall of fame : Mr. Robert Rutland, founder of the National Jazz Hall of Fame, poured himself another drink as he listened to some old jazz recordings and thought about the decisions facing him.
Determine the appropriate type of market structure : From the scenario for Katrina's Candies, determine the appropriate type of market structure for the situation in question. Cite at least four (4) defining characteristics that have helped you reach this decision regarding the appropriateness of th..
What are comparable real salaries : What are comparable real salaries? A job paid $57,000 in 2002. The CPI in 1960 was 29.6, compared to 179.9 in 2002. In 1960, what salary would be comparable to 2002's $57,000 in real terms?

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd