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Should the Government Control the Economy? STEP 1 Research arguments for and against one of these topic questions: Should government raise the minimum wage? or Should government set the price of gasoline? Virtual Library (Links to an external site.) for help with your research. You are searching for arguments for and against one of these topics. Be sure to note your sources of information. STEP 2 Create a graph to show the effect (shortage or surplus) of the government regulation you chose. Discuss why these issues do or do not affect your opinion. Include the appropriate labels for your graph such as: price quantity supply demand surplus or shortage You may use the example provided for you in the lesson. STEP 3 Write a persuasive essay or blog entry to address your topic. Use a minimum of 400 words. State your opinion clearly with details from reliable sources. Be sure to include: Your opinion on the topic question Three strong arguments that support your opinion At least one argument that opposes your opinion, and how you challenge it Economic terms from the lesson such as price controls, equilibrium price, shortage, and surplus You may use the example provided for you in the lesson. STEP 4 Create a reference section that includes links to your sources. Be sure to include your sources in MLA format. Create a reference section that includes links to your sources. Be sure to include your sources in MLA format (Links to an external site.).
Cost are represented by the equation C=10L+4K. Draw one isoquant and one isocost curve on a labour/capital frontier that show the cost-minimizing L and K required to produce Q=10. Label axes, curves, intercepts, and the cost-minimizing amounts of lab..
Suppose that, initially, the Michigan economy is in equilibrium with no unemployment. The supply of workers is ES = -1,000,000 + 200w, and the demand for workers is ED = 19,000,000 – 300w, where w = annual wages, and E = number of employed workers. T..
q1. james marshallian demand function clarifies the utility maximization problem that is max u x1 x2. as the cost of
Assume the Qatari government is pursuing an expansionary fiscal policy by increasing government purchases. Show the short run and long run impact of this policy on the macroeconomic equilibrium point using AD and AS model (assume that Qatar’s economy..
Describe a moral hazard problem your company is facing. What is the source of the asymmetric information? Who is the less informed party? Are there any wealth-creating transactions not consummated as a result of the asymmetric information? If so, cou..
Taxes on goods and services like alcohol, tobacco, and gambling winnings (and maybe someday sugary foods and marijuana) are levied to reduce consumption of such goods and to raise tax revenue (
Discuss a variety of different derivative instruments relating to foreign exchange. What is the underlying function of these different instruments? Can the same goal be achieved using different derivative instruments? How? Consider the term disinterm..
The average total cost incurred by a firm is calculated by dividing:
According to Milton Friedman and Anna Schwartz, what was the Federal Reserve’s crime of commission that occurred in the Summer/Fall of 1931 that had a devastating effect on the course of the Great Depression?
The owner of a corner lot wants to find a use that will yield a desireable return on his investment. If the owner wants a minimum attractive rate of return on his investment of 15%, which of the two alternatives would you recommend?
Explicates which influences the marginal benefits also marginal costs associated with the decision to purchase a house.
What is the 99% confidence interval for the difference between the two school's scores. (For consistency, let the difference d=A-B.) b. Suppose we want to perform a two-tailed test where H0 is that ?d=0. What is (approximately) the p-value of the ..
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