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1. How has the educational system affected the quality of our labor force? 2. Explain the Malthusian theory of population. Is it relevant today anywhere in the world? Explain where and why. 3. How does the American savings rate compare to that of other leading industrial nations? What accounts for the difference? 4. What changes took place during the Industrial Revolution that made possible sustained economic growth? 5. If you were hired as an efficiency consultant by a large corporation, list the measures you might take to raise the productivity of the workers. 6. What is wrong with having tariffs and quotas? Which is the lesser of the two evils, and why? 7. Explain why globalization is good for the United States. What are the drawbacks of globalization for our economy? 8. We run huge trade imbalances with two countries. Explain the cause of the imbalances. 9. What is the economist's case for free trade? 10. What is meant by our balance of payments? Explain what current account and capital account are. 11. What is the gold standard? How does it work? 12. Can there be a deficit on Current Account and a deficit on Capital Account at the same time? Explain. 13. Explain why a currency depreciation leads to an improvement in a nation's balance of trade. 14. How is the exchange rate determined in a freely floating rate system? 15. Foreigners are buying up hundreds of billions of dollars a year in American assets. In what ways should this be a matter of concern to Americans?
Estimate the linear model described in part (a) using Ordinary Least Squares regression and display your regression results.
The first acre can produce 1000 bushels of wheat, the second acre 900, the third 800, and so on. How much revenue will each acre generate? what are the TR and MR for each acre?
decrease in your real income that results when photographic equipment you purchase increases in price because of increased demand by others for these items. cost you bear when your neighbor has a noisy party and does not compensate you for your dis..
Assume buyers in the used car market are willing to pay $3,500 for a plum used car and $1,500 for a lemon used car. If buyers believe that thirty percent of the used cars.
The price of MP4 players has been going down in the past decade. Give an explanation for this consistent drop in the price of MP4 players. Use the model for long run competitive firm to illustrate your answer. Draw two graphs. One is to show the ..
Mr. Smith is president of a firm that is the industry price leader; that is, it sets the price and other firms sell all they want at that price. The other firms act as perfect competitors.
What is your assessment of business's response to product and service quality and safety? Have they done enough? What is missing from their approaches?
you have an opportunity to invest in a new plant. the fixed costs are 100000 per year. the marginal cost of production
why should the government intervene in situations of market failure? include your example enough economic analysis and
Rigorously analyze the issues you have identified. Base your arguments on data in the case. Demonstrate your critical thinking ability, creativity, and insight, as well as appropriate use of the tools provided in the text or in previous courses.
Suppose the marginal cost of abating X units of pollution is given by MC(X) = 2X and marginal benefits are MB(X) = 10-2X. Suppose Current pollution = 4 = Xmax. What is optimal level of pollution abatement, X*?
Analyze the following statement: "In 1975, the official price of gold was abolished as the unit of account for the international monetary system. As a result, gold was demonetized as an international reserve asset."
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