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We discussed the possibility that a startup firm in San Francisco plans to 3-D print rhinoceros horns that are indistinguishable from real horns. Assume they are able to produce these horns cheaply. If successful, what will happen to the market price and quantity of horns in the market? (There aren’t two separate markets, there are just a lot more horns available for sale in the same market as before) Explain your answer thoroughly.
Congress is considering a tax credit program for those who purchase wind or solar-powered products. Explain multiplier concept as it applies in this case.
Describe the Heckscher-Ohlin model (also known as the factor endowment). How does it predict countries will emphasize their comparative advantage?
A justification for job training programs is that they improve worker productivity. Suppose that you are asked to evaluate whether more job training makes workers more productive. However, rather than having data on individual workers, you have acces..
Is the current Monetary Policy expansionary or contractionary? Why? What effect doe the Federal Reserve expect this policy to have on the US economy?
Illustrate what is the proper role of unions. Why are they declining in membership and influence in the economy.
Chelsey is a mother of two and buys her kids\' favorite, Kraft Macaroni and Cheese, when the price of Kraft is the same as the price of the store brand stuff. But when there is any price difference, she buys the cheaper product.
Suppose you want to estimate the following labor supply equation: You gather data on US workers aged 22 to 55 from the Current Population Survey. You define the Average Hourly Wage as self-reported total annual labor income divided by self-reported t..
evaluate a plan designed to cut costs. Under plan, workers would be paid a fixed rate of $8/hour. Would you favour plan, Explain.
Executives of Studio Recordings, Inc. produced the latest CD by the Starshine Sisters Band, titled Sunshine/Moonshine. The following cost information pertains to the new CD: CD package and disc (direct material & labor) $1.25 per CD Songwriter’s roya..
the total quantity of monthly account across all internet providers increases from 90,000 to 190,000. What is the value price elasticity of demand? Is the demand elastic or inelastic?
We also observe that the proportion of workers receiving disability benefits is much lower in the US than in the latter two nations. Are these findings consistent with the work-leisure model.
Identify an economic issue that both parties address and compare and contrast their views on that issue. Generally speaking, how much of the disagreement is based on normative economics compared to positive economics?
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