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"A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy." Evaluate this statement made more than 150 years ago by the Scottish philosopher Alexander Tytler. Indicate why you either agree or disagree with it
What traces/evidences (e.g., additional files, modified files, log files, and so on.) may be left behind after a system was attacked by Stuxnet?
Explain why globalization is good for the United States. What are the drawbacks of globalization for our economy? We run huge trade imbalances with two countries. Explain the cause of the imbalances. What is the economist's case for free trade?
Suppose that two players are playing the following game. Player A can choose either Top or Bottom, and Player B can choose either Left or Right. The payoffs are given in the following table: where the number on the left is the payoff to Player A, and..
Why does the percentage gain in earnings observed when worker gets one more year of schooling measure the marginal rate of return education?
Patrick chooses to use his time ‘free-time’: (a) working out or (b) reading. Patrick currently has 20 hours a week to allocate to these two activities. It takes Patrick 1.5 hour to work out and .5 hours to read. Draw Patrick's budget constraint and o..
What approach can be taken in regression to account for qualitative factors or events?
If an allocation of economic resources is not efficient, then some of the potential gains from trade among buyers and sellers are not being realized. Explain why an allocation is inefficient if a good is not being produced by the sellers with the low..
How many copies of the software should I attempt to sell? At what price should I sell it? How much profit would I make?
Explain how income and substitution effect savings decisions in opposing ways. Provide an example to support your argument with detail and integrating the concept of marginal propensity to consumer and marginal propensity to save. Make sure to reply ..
Describe how a country producing more capital goods rather than consumer goods ends up in the future with a PPF that is larger than a country that produces.
You are the manager of the unique supermarket of the town. A local company wants you to sell its milk. But you have already many other milk in you supermarket. You estimate that you would be able to sell 500L/day of this milk at p = 2. What will be y..
Explain how much total pollution reduction will occur under proposal A and what be will the total compensation received by regions O and R.
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