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-Introduce yourself to your peers by sharing something unique about your background. Explain how you expect this course will help you move forward in your current or future career.
-Can private currency, digital or otherwise, do a better job than money? Why might one doubt that current new forms of digital money, such as Bitcoin, Ethereum, and Ripple, will replace more traditional fiat currencies?
Why do economists tend to react in a hostile fashion to prposals for quotas, or for price ceilings and price floors? Recall and describe case(s) in which such interferences with the market equilibrium and preferable to the alternative, and explain wh..
I am given utility function. U=10XY^2. general form of budget constraint? marginal utilities given the total utility curve. that is, derive MUx and MUy.
Let's say there is a company that benefits from the protection of state and local governmental agencies. And that company funds its budgets through proper taxes. The product that the company create is one that every person, from 5 to 18 years old, wh..
Monetary and fiscal policies can often change simultaneously. In the early 1980’s, the U.S. government cut taxes and ran a budget deficit and the Federal Reserve pursued a contractionary monetary policy. Given that the government’s goal was to raise ..
Define and explain the terms, employment rate and labour force participation rate. What is the difference between these terms.
Explain the economic significance of charging a $5 cover for the live musical acts (as a form of price discrimination).
You are the manager of a gas station in a small town in the United States, and your goal is to maximize profits. Based on your experience, the elasticity of demand of Texans for a car wash is –2, and that of non-Texans is –1.5. Your marginal cost is ..
Determine Derek's income, draw his budget line and represent his utility-maximizing point using an indifference curve.
Compare and contrast the results of the Classical Model and the Keynesian model after an expansionary policy. Keep in mind that the economy is in a recession and not at full employment. Address the following:
Describe one weakness and one strength of the gold standard. Do you agree with Milton Friedman that any system of pegged exchange rates is not a satisfactory system for countries with independent political systems;
In detail, Do you think that a price floor such as a minimum wage will result in a surplus of labor and hence unemployment?
Suppose the government increases purchases in an economy with a recessionary gap. How would this policy affect bond prices, interest rates, investment, net exports, real GDP, and the price level? Show your results graphically.
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