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1. ABC Inc., sponsors the "Pioneer Trial Ultramarathon," with an advertised first price of $10,000. The rules require the competitors to run 100 miles from the floor of Blackwater Canyon to the top of the Pinnacle Mountain. The rules also provide that ABC reserves the right to change the terms of the race at any time. Andy enters the race and is declared the winner. ABC offers him a price of $1,000 instead of $10,000. Did ABC and Andy have a contract? Explain.
2. Andy, a sports marketing expert, met with Ben, the owner of the San Francisco Crazy Baseball team, many times to discuss the Andy Benson Crazy Company (ABC). Andy was paid as a consultant. Later, he filed a suit, seeking an ownership share in ABC. There was no written contract for the share, but he claimed that the matter had been discussed. Does Andy have a valid claim for payment? Discuss.
If summer's supposition is correct, then we should expect for wealthier countries to have cleaner environments other things equal.
Two widows, Rosie and Ethel, have identical preferences, and identical wage rates. Rosie has no non-labor income but Ethel receives an income from her late husband's pension. Assuming that leisure is a normal good, who will work more hours?
This local Government Department provides two services: A and B. These two goods require the use of two inputs: X and Y. More specifically, provision of a unit of A requires 4 units of resource X and 10 units of resource Y. Suppose that based upon yo..
Imagine you are a member of Congress. Since consumer spending comprises at least 2/3 of real GDP, you know that increasing that spending would boost the U.S. economy in the short run. During a press conference, a member of the press asks you what you..
The duration of copyright increased under U.S. law in several steps since the eighteenth century until it reached the life of the author plus 70 years. Suppose that a writer completes a novel at age 40. If the writer lives to be 75, then the copyrigh..
Consider the Solow model with total factor productivity At constantly growing at rate g>0. Determine the a) instantaneous impact on GDP per capita, instantaneous impact on consumption per capita, long-run impact on GDP per capita (i.e. compare the le..
A small start-up company invested in a new plant with an initial cost of $10 million. Operating costs for the plant were $3 million per year for 7 years. There was a special one-time charge of $1 million in year 2 to correct unexpected equipment prob..
If policymakers want to reach full employment while maintaining balanced trade, what combination of monetary and fiscal policy should they use.
Is the price mechanism of a perfectly competitive market a good mechanism to allocate gasoline.
Assuming that there are no direct expenditure offsets to fiscal policy, how much should the government increase taxes?
Are there different ethical risks an entrepreneur faces if entering a market in a developed country as compared to a market in an undeveloped country?
Select a United States of America government investment project and a private investment project in the United States of America. Write about why you understand are the primary differences in the cash flows between both projects.
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