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Think back to your first hour after awakening this morning. List 15 decision-making opportunities that existed during that hour. After you have done that, mark the decision-making opportunities that you actually recognizedthis morning and upon which you made a conscious decision.
Cher's marginal rate of substitution of earrings (E) for necklaces (N) is 5 (MRSEN = 5). This information implies that:
Describe a decision-making scenario using your business experience, personal decision making or cited journal article; include an example of the decision-making process, describe the risk, and whether persuasion was used.
Determine whether GDP will be underestimated or overestimated in each of the following:
Between 2007 and 2009 the U.S. economy experienced a severe recession. In an effort to stimulate the economy, the federal government passed a stimulus package. Explain the federal government’s use of fiscal policy (the stimulus) to promote growth and..
The government increases taxes by $6200 in an economy where households spend 92% of each additional dollar they earn. Calculate the total effect on output (or aggregate demand). Carefully follow all numeric instructions. Round any intermediate steps ..
What is rent seeking behavior? How does it explain why government has grown in recent years and how it explain why it is difficult to change tax or spending policies in the United States?
You are the manager of a firm that receives revenues of $60,000 per year from product X and $80,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is..
In "In Praise of Big Brother" (pp. 203-215), James Stacey Taylor argues for the optimistic conclusion that, with the right legal and procedural safeguards, large-scale governance surveillance would have many positive consequences. What are Taylor's b..
How many years will it take for East Vice City to catch up to the real per capita GDP of North Metropolania?
GDP per capital (nominal) would be the actual cash of the average person in the given country has per year. It equals GDP divide by the population. What is the alternative to using PPPs for making international comparisons? This answer will likely ex..
A firm increases the quantity of all resources it employs by 5 percent. As a result, output increases by 7 percent. This is an example of: A. Minimum efficient scale B. Diminishing marginal returns C. Decreasing long-run average costs D. Economies of..
The Blue Star Fund assets with a market value of $10.6 million and liabilities of $607,000. What is the net asset value if there are 185,000 shares outstanding? A mutual fund has an NAV of $9.55 with 274,000 shares outstanding. What is the value of t..
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