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The accepted wisdom is that the oil price hikes of the 1970s resulted in global stagflation. It would seem to follow that the drop in oil prices would have the opposite effect on the US economy. Did it or didn’t it? If not, why not? Make sure to look at data showing both inflation rates, unemployment, and oil prices.
Lay out the arguments forand against trade treaties like NAFTA, and/or for the process of"globalization" of the U.S. economy. What do you think? What is your position, positive or negative, and why do you think so? Paterson, which now has lost most o..
The AD/AS model is useful in predicting the effects of various shocks and policy changes on an economy. The model is based on goods and services being exchanged in well-functioning markets. In general, however, markets are not always perfect. How wou..
Please identify and discuss advantages and disadvantages of structuring a business as a partnership versus a corporation. How have state LLC laws changed the effectiveness of a partnership from both a legal and taxation point of view?
Without using the midpoint formula, can you tell whether demand is elastic, inelastic, or unit-elastic over this price range.
Explain customer-perceived value. Explain total customer satisfaction. What valuable functions can brands perform for a firm?
Assume the market for fertilizer is perfectly competitive. Firms in the market are producing output, but they are currently making economic losses. How does the price of fertilizer compare to the average total cost, the average variable cost, and the..
Two friends, Rachel and Joey, enjoy baking bread and making apple pies. Rachel takes two hours to bake 1 loaf of bread and one hour to make 1 pie. Joey takes four hours to bake 1 loaf of bread and four hours to make 1 pie. What is Rachel’s opportunit..
Are innovators always bad or criminals? Can you think of any examples in which people accepted societal goals, rejected the means, and came up with their own legal and creative way of achieving the goals? Please explain.
Luxembourg imports a good at a world price of $10 each. The domestic supply curve is S = 50 + 5P where P is in Ecu and lEcu = $1. Demand curve is D = 400 - 1OP. Draw demand and supply curves for this good and indicate how much is imported.
Many countries often come together to sign treaties for trade or security. What are some of the economic and political reasons for signing such treaties? Can you identify some ways in which these treaties are enforced?
A nation with a large current account deficit is consuming more than it produces or living beyond its means. Is this necessary bad? What is your judgment for the United States?
A motorcycle is for sale for $2600. The dealer is willing to sell it with no down payment; pay $44 at the end of each of the first 4 months; and then pay $84 at the end of each month after that until the loan has been paid off. At a 12% annual intere..
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