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What is a just society? Which of the three theories of economic justice discussed in Chapter Three (utilitarian, libertarian, or Rawls's theory) do you feel would best create such a society? Why have you selected this theory and rejected the others? If our society were to be structured to incorporate the theory that you selected, would there be any negative impacts on you or on those whom you care about? What would these be?
From the firms' point of view, what are some of the incentives to consolidate? Describe the competitive environment within the industry.
Define the differences and/or similarities between the latent theory and the trajectory theory. Which one do you feel better defines why individuals commit crimes?
“Devoting a larger share of national output to investment would help to restore rapid productivity growth and rising living standards.” Do you agree with this claim? Explain.
reveal how much they value the extra police, but it says that everyone will pay the same amount if the police are hired, provided that the sum of the personal valuations exceeds $75 million.
Which of the following statements supports how the following event could occur: A drought around the world raises the total revenue that farmers receive from the sale of grain, but a drought only in Kansas reduces the total revenue that Kansas farmer..
Open-market operations have a fairly unpredictable effect on the supply of money. The Federal Reserve undertakes open-market operations on an infrequent basis. Open-market operations are extremely rigid.
q1. the jones company has just completed the third year of a five-year macrs recovery period for a piece of equipment
According to the Purchasing Power Parity (PPP) condition, what is the relationship between changes in price levels between two countries and changes in their nominal exchange rates?
Throughout much of the 1970s, the United States experienced rising energy prices. Assume that the US economy was in long-run equilibrium before these increases began. Use the aggregate demand- aggregate supply model to illustrate graphically the shoc..
Consider an industry with two firms each selling a homogeneous good and producing at MC1 = 10 and MC2 = 40. Industry demand is given by P = 100 – Q. Competition in the market place is in quantities (Cournot competition). Find the equilibrium quantiti..
Explain the changes in equilibrium price and quantity you expect for that market. A graph is not required; however, it is helpful and illustrative that you fully comprehend this week’s material.
What is the profit-maximizing level of output and profit-maximizing price for a monopoly? Explain in terms of demand, marginal revenue, average total cost.
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