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Define and briefly discuss the following:
(a) Similarities between Intellectual Property Rights and Public Goods
(b) Differences between Traditional Procurement Contracts and Public-Private Partnerships
Assume that you were ready to buy a custom tailored dress (or men’s suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. Discuss any recent purchases you hav..
Economists claim that there are several causes of economic inefficiency in medical care. List three basic causes and, for each, describe why it results in economic inefficiency and poor performance in medical markets.
Assume that demand for good X is a function of its price (PX), the price of good Y (PY), and Income (M) as follows: QX = {(M + PY)/(2PX)} - 1 Given the following values for these variables: PX = 2; PY = 5; M = 51 (a) Calculate the (own) price elastic..
Your company has a customer who is shutting down a production line, and it is your responsibility to dispose of the extrusion machine. The company could keep it in inventory for possible future product and estimates that the reservation price – the v..
Illustrate what risks do you face. Upon inquiry at your bank, you find that the forward price for a September contract to buy dollars is 10SKr per dollar. How might you hedge your exchange-rate risk for the first year.
What is the difference between the index number for the year you were born and the Consumer Price Index for January of 2012.
The famous Swedish economist Assar Lindbeck remarked in his book on rent controls, “rent control appears to be the most efficient technique presently known to destroy a city-except ofr bombing”. Why would Professor Lindbeck think rent controls are de..
Unemployment and how to use Fiscal Policy to address Recession. Background for this question: The US economy is currently experiencing recession according to the Federal Government. You can use only Fiscal Policy and the AD – AS model. 1. Using Fisca..
Do a Library search for an articles about Robert Merton's Structural Strain Theory. This theory talks about the kinds of responses that one might expect when the "normal" legitimate means to acquiring the "good" stuff in life is blocked. The block ca..
When enacting fiscal policy, the form such policies take is often at issue - should we enact fiscal policy by lowering taxes or increasing spending? There are many points of view on either side of the spectrum. How do tax cuts affect GDP? Do tax cuts..
suppose that the economy is currently in a recession. If policy-makers take no action, explain how will the economy evolve over time. Explain in words and using an aggregate-demand/ aggregate-supply diagram.
when given 5 costs also quantities over 5 months also asked for the arc cost elasticity of demand.
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