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1. A flood has destroyed a city's downtown. The mayor declares that the rebuilding of the city will lead to economic growth and the city will end up better than before. Use economic reasoning to analyze if the mayor's statement is correct.
2.The president of a large public university proclaims. "if we can get the state government to fund our new football stadium, it will not cost us anything" Evaluate this view from an economic perspective. Answer this in the text block below
3. Explain what crony capitalism is and what effects it has on the economy using the PPF model. You do not have to draw the graph just explain how it looks with crony capitalism
4. Explain why 4 letters are used to describe the four types of business cycles. Give the economic reasons for using the letters to describe various types of business cycles.
5. What was U3, U6 and labor force participation for Jan. 2017? What was the advanced 4th quarter 2016 GDP growth rate? What was the real GDP growth rate for 2016? If the economy continues to grow at the growth rate for 2016, how long will it take for the U.S. to double its living standard? Explain how you got this number. How does this number compare to the number of years using the historical growth rate average (pre-2000)?
6. Explain what are the myths about free market capitalism and why they are myths not realities.
Your current car has a trade-in value of $12,600. A new car can be financed at a nominal interest rate of 4% compounded monthly. How much will your monthly payments be?
Kermit is considering purchasing a new computer system. The purchase price is $130,725. Kermit will borrow one-fourth of the purchase price from a bank at 10 percent per year compounded annually. The loan is to be repaid using equal annual payments o..
Roberto is a senior citizen who consumes food and healthcare. When he retired in 2002, he consumed 90 meals and 3 medical checkups per month. Suppose in 2002 that the price of a meal was $10 and the price of a medical checkup was $64. Calculate a Las..
According to Van Wormer and Link (2015), the faith that even the most disreputable or downtrodden of clients can find some progress in life if they are treated with respect while working on their difficulties is an inherent part of the social work im..
Explain by how much will aggregate demand at current prices shift initially (before multiplier effects) with a$70 billion increase in government purchases.
A monopoly firm faces an inverse demand curve of P = 98 – Q and has a constant marginal (and average) cost curve of 49. If the firm can perfectly price discriminate, what are its profits; what are the consumer surplus, producer surplus and dead weigh..
The owner of a profitable coffee chain in Singapore is exploring opportunity to grow its sales in the increasingly affluent China market. You have been hired as a consultant to advise the firm on its international market entry strategy. Identify the ..
A person who is not employed and claims to be trying hard to find a job but really is not trying hard to find a job. Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is. Frictional unemployment results from
Often, there is news and critics that cast stones at the economic policies of Congress and/or the President. However, I find that average critics don't offer up an alternative solution, but simply criticize. Pretent that you are in charge for a day o..
The following question provides some practice calculating the AFPs for different insurance policies. If the individual remains healthy (80% probability), she will consume $500 in medical care in the upcoming year.
Adjust the benefit or cost curve or both to illustrate the private also social benefits also costs in the market for electricity.
Assume that, in autarky (pre - trade), an economy has 150 workers and the MPLC is two cars and the MPLB is five boats. Find the autarky (pre – trade) relative price of cars in this economy. Suppose that: In Malaysia the unit labor requirement to prod..
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