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Too Much Government
Some critics argue that America has too many elections, a surplus of elected officials, and unwieldy layers of government. Indeed, with literally thousands of local governments dotting the political landscape of the United States, one can argue that too many jurisdictions overlap that occasionally impede the delivery of core services. Others argue that multiple layers of government add to greater accountability and more choices for ordinary citizens. Discuss the degree to which you believe that local governments should have greater autonomy in making decisions. Do you think that power within states would be better centralized in state government as opposed to delegated to local governments? Is there sufficient expertise within local governments to address significant issues of the day? Are there fundamentally too many layers of government - especially at the local level?
What are the firm's fixed costs? What is the firm's marginal cost? Now suppose other firms in the market sell the product at a price of $10.
You are the manager of an organization in America that distributes blood to hospitals in all 50 states and the District of Columbia.
In other situations it would be reasonable for a purely competitive wheat farmer to raise his price per bushel because he could reduce his variable costs by selling less at a higher price. True or false, and why?
The winners of the Nobel Prize in economic science were recently announced-who were they? For what contribution to our understanding of economics were they recognized?
From the regression output, estimate the demand function when income is $40,000 and price is $2 per gallon. Explain the result in terms of R-square, T-test, F-statistic, and signs of each X variables.
What price will the monopolist charge and how much output will he produce? Sketch a diagram of this market and show the equilibrium price and quantity. In addition, calculate the firm's profits.
Examine the tools of fiscal policy also explain how they are used to reduce inflation or eliminate a recession.
Illustrate what has been, also what will be, the short run and long run impact of the Federal fiscal policy which has been followed in the past few years.
Explain how will different cultural perspectives of a region impact your global business operations.
Assume Helen's income increased from $30,000 per year to $45,000 per year and Helen\'s crab meat consumption went from 25 pounds per year to 30 pounds per year.
Mention four key points from the reading assignments that were emphasized in the simulation. Find out how price elasticity of demand affects the decision making of the consumer and of the organization.
The demand function for VCRs has been estimated to be Qv = 123 - 1.7Pt + 46 Pm - 2.1Pv -5M, where Qv is the quantity of VCRs,Pt is the price of a videocassette, pmis the price of a movie, Pv is the price of a VCR, and M is income.
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