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Written Report - Economics: Principles, Models and Policies
Introduction: This is the assignment for this subject and focuses on the microeconomic environment.
Details: Governments sometime legislate the use of price ceilings and price floors to correct market failures.
There is current economic debate on whether governments should intervene in a market economy. Some free market economists are even arguing that the Australian government should abolish the current minimum wage.
You are an economic policy advisor to the government, what would your recommendations be?
In answering this question, make sure that you use economic principles (including graphs) and consider both sides of the story i.e. effect on wage earners, businesses and economic growth.
Use APA referencing style.
Length - 1800 words (excluding charts/tables).
A purely competitive firm finds that the market price for its product is $20. It has a fixed cost of $100 and a variable cost of $10 per unit for the first 50 units and then $25 per unit for all succcessive units. Does price exceed average variable c..
Why is the United States so conservative, both fiscally and socially, relative to the rest of the industrialized world? We are more or less the only country without universal healthcare and we've been lagging behind on civil rights issues such as..
What do we call a method for determining the number of years it will take for some measure to double, given its annual percentage increase (Divide 70 by annual rate of inflation to get the number of years it will take price level to double)?
Based on these indicators, describe the state of the U.S. economy in terms of the business cycle. Propose a monetary policy (contractionary or expansionary) that responds to current economic conditions. Be specific about which tool of monetary poli..
Is income inequality as it exists in the United States at presentbeneficial to the market? Why or why not?
Assume that, over time, engineers develop new residential furnaces that can run on different tpes of fuels, e.g., natural gas, electricity, propane, and fuel oil, simply by flipping a switch on the furnace.
Case 1: Review the requirements of the Chapter 3 Mini-Case, parts b through j. Then apply those requirements to do an analysis of Brinker International, which is a real company.
The gross domestic product (GDP) in a Fultonland in 2012 is $8 billion. The income received in 2012 by Fultonland residents from investment in Kingsland is $1 billion. The income received in 2012 by Kingsland residents from investments in Fultonland..
Describe why it is important for the media to provide objective coverage of events. Do you believe today's media accomplish this goal? Support your answer. And, how do you think media coverage of politics will change, if at all, in the next 10 y..
Identify which of the following situations currently faced by the World Bank or the International Monetary Fund are examples of adverse selection and which are examples of moral hazard. (See pages 420-424.)
Utilize these determinants in judging either demand for every of the following products is elastic or inelastic.
What was Real GDP for 2009? What does GDP tell us? How did GDP change from 2008? What caused these changes
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