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1. You now should realize how important it is for economists to try and predict future conditions of the U.S. economy. Economists are also interested in the performance of the economy at a more local level. Discuss how local and national forecasts play an important role in the State and Federal levels.
2. There have been significant discussions on the government's fiscal policy during the Great Recession. In particular, many did not like the government's actions in salvaging the auto industry in providing guaranteed loans to GM and Chrysler. What is your opinion? Provide economic reasons for your opinion.
When a construction possibilities frontier is bowed out, away from the origin the opportunity cost of a good.
Mary has bought a used car for $8,000. She plans to keep it for four years while she is in college, at the end of which it is likely to fetch $1000, If the maintenance cost is $500 per year, and i = 10% per year, what is the car's net annual cost? (I..
In monopolistic competitive industry the products that make up that industry are virtually alike. Only a few minor differences separate one product from the other (take soap for example). In such a case one is lead to believe that consumers could cho..
The demand for company X's product is given by Qx = 12 - 3Px + 4Py. Suppose good X sells for $3.00 per unit and good Y sells for $1.50 per unit. a. Calculate the cross-price elasticity of demand between goods X and Y at the given prices. b. Are goods..
If the total deposits of the banking system are $400 billion, how much money could these reserves support if the required reserve ratio is 0.20, banks hold no excess reserves.
Write down on a paper analyzing dissimilar approaches that might be used by Keynesian theorists.
When free trade increases market competition, what happens to the ability of a firm to set high prices? What about when trade restrictions are imposed?
Suppose that people expect the Fed to hit its inflation target. A: Calculate the optimal money growth rate needed for the Fed to hit its inflation target in the long run.
What is the smallest integer-valued annual compound interest that will result in an investment tripling in value in less than or equal to 12 years?
Genentech owns a patent on tissue plasminogen activator (TPA), which is an enzyme that helps the body break down blood clots. TPA is particularly valuable to cardiac patients, since it often allows heart problems to be treated with medication rather ..
A _____ shows the relationship between one firm's profit-maximizing output as a function of the output of a rival firm in a duopoly market.
The game ends when the stack runs out or one of the players takes two notes (whichever comes first). Both players keep illustrate what they have taken to that point.
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