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What is a normal profit and why would a long run operating business owner still be happy to keep their firm in operation if they were only earning normal profit?
Define the natural rate of unemployment and cyclical unemployment. How does the government measure the economy’s rate of unemployment? What problems arise in interpreting unemployment data?
What is the purpose of criminal law? Explain how crimes are classified? Give two examples of white-collar crime. What do you believe the punishment should be for this crime?
There are two electric motors that can provide 100 hp. Alpha motor can be purchased at $1,400 and has an efficiency of 80%, an estimated life of 10 years, and estimated maintenance costs of $50/year. Beta Motor will cost $1,000 and has an efficiency ..
Who is my audience and which points will they be interested in - What kind of tone am I assuming for my argument?
Origins of the Depression. In tracing the origins of the Great Depression, Berkeley economist Christina Romer argues that the U.S. suffered a large fall in aggregate demand following the 1929 stock market crash. Knowing that the U.S. was on the gold ..
Draw diagrams to show the gains and losses from international migration for the migrants, and workers and consumers in the sending and receiving countries. Show the effects on producer and consumer surplus and total welfare in each country. Assume th..
Even though it is reported that weapons of mass destruction were not found in Iraq, do you agree or disagree with the statement: The Bush administration is justified in toppling Saddam Hussein, considering the threat that he posed to world no longer ..
What effect, if any, does each of the following events have on the price elasticity of demand for corporate-owned jets?
A friend borrows $1280 today and promises to pay you back $2190 in 5 years. If inflation is expected to be 3.9% per year during this time, what is the inflation-adjusted rate of return per year? the real rate of return per year?
When we derived the put-call parity relationship (for non-dividend paying stocks), we showed that the put was equivalent to a combination of the call, the stock and riskless borrowing/lending. Using the put-call parity relation, solve for the value o..
A hedonic regression is run on the selling prices P of houses near an airport that sold within the last five years that results in the equation P =500000−400×N+0.75×income where P is the most recent selling price in current year dollars, N = 50/d, an..
Suppose your favorite band is on tour and coming to your area. Tickets are $100, and you take a day off from work, which you would have earned $60. What is your opportunity cost of going to the concert?
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