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Is America Number One? Understanding the Economics of Success. Unemployment: America vs. Europe. (n.d.). Films On Demand.
After viewing the videos included in this week's multimedia resources, reflect on the challenges facing the U.S. labor force due to outsourcing of jobs overseas. Discuss the effect of outsourcing of production on GDP.
Consider a competitive seller of iced coffee drinks.Suppose that this seller’s marginal cost of producing an amount of such drinks per week is given.What is this seller’s total surplus at this quantity
Why did the global economy fail to self-adjust during the Great Depression Specifically, why didn't sales and employment respond to the declining prices and wages as classical economists would predict
Critique or defend two (2) of Jevons' views on public policy. Substantiate your position with evidence of the success or failure of current public policies favored by William Stanley Jevons.
If the market for alcoholic beverages is in equilibrium, then the drinking age is reduced from 21 to 18 what will happen to the equilibrium price and quantity of alcoholic beverages.
Suppose the two countries are not trading and that both desire to have equal numbers of feet of timber and baskets of fruit. How would they allocate workers to the two sectors?
When do assumptions create in conjunction with economic theorizing have to become realistic? Can unrealistic assumptions provide useful outcomes?
Return again to the cartel in Problems 4 and 5. Now suppose that the market game repeated indefinitely. What is the discount factor (sigma) is necessary now in order to maintain the collusive agreement in an indenitely repeated setting
Describe the difference between a diminishing marginal product of labor and a negative marginal product of labor. Why would a profit-maximizing firm always choose to operate where the marginal product of labor is decreasing (but not negative)?
Compute the formula for Bob's indierence curves by setting and compute Bob's MRS as a function of C and P
When Coca Cola introduced a new, low calorie version of Coca Cola called C2, despite a major marketing effort, sales of C2 were weak and by the fall many doubted that the product would last. Coke's experience with C2 illustrates the economic conce..
Sam currently earns $30,000 per year. the governments is considering a policy that would increase sam's income by 12%, but raise all prices by 8%. what is sam's compensating variation for the proposed policy? can you compute it without knowing his..
When thinking about the theory of the firm, shirking, and principle-agent problems, we can find analogous situations in our personal lives. Make a Power Point presentation (for sharing with the class) two personal situations to illuminate this con..
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