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Should the United States pass a minimum wage that assures all workers earn a wage above the poverty level? Defend your position using economic principles.
Assume that the current market wage is $40 and the price of the related product (Po) is$10 per unit. Solve for the equilibrium price and quantity.
Show how a monopoly firm (industry) behaves in short run (using any practical example: emphasize on output, price and average cost).
In spite of the greater emphasis on a planned economy in France than in Germany, the growth rate in France has averaged more than 1% higher than Germany.
Explain the idea of importing and profile its elements and evaluate the relative benefits and drawbacks of the export and import of e-waste.
For this question, draw a graph illustrating the initial aggregate production function and the new aggregate production function if T increases from 300 to 450
Explain the challenges in measuring consumer surplus of a free product like major online applications, such as Facebook and Google Search.
Problem: If a large group of data has a small standard deviation what does that tell the researcher?
Suppose that the Federal Reserve thinks that a stock market bubble is occurring and wants to reduce stock prices. What should it do to interest rates?
Deficit spending for education and scientific research may impose less of a tax burden on future generations than deficit - financed increases in transfer payments. Do you agree or disagree? Explain your answer.
35 percent Turkey growers operate in a competitive, stable cost industry. This industry has reached a long run equilibrium at a price of $1 per pound of turkey
Would you expect the price elasticity of demand to be higher at the level of an individual school (e.g., Baker) or at the aggregate level
Provide an example of an economic good whose producer would increase the quantity supplied if the price were to go up. Summarize why the quantity would increase in your response.
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