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If the tort system were deemed a method of social insurance rather than one of deterrence of uneconomical accidents, would awards in tort cases be on average higher or lower than under the deterrence rationale? (Using the perspective of economics)
Gas prices are high at $3.30 in the Year of 2008, compared the prices in 1979 of gas prices for $1.00. Are Nominal prices or the Real Prices higher today, then in the past? How do you know? show your work. Use the CPI in 1979 of 85 and in 2008 of 218..
How will the unemployment rate during the current period compare with the natural rate of unemployment.
Bribes: Two players find themselves in a legal battle over a patent. The patent is worth 20 to each player, so the winner would receive 20 and the loser 0. Given the norms of the country, it is common to bribe the judge hearing a case.
Suppose PlayStations and PlayStation games are complementary goods. Now there is a technological advance in the production of PlayStations. Use a supply/demand diagram of PlayStations market and a supply/demand diagram of PlayStation games market to ..
Discuss the role of advertising also the desired impact on the industry's demand curve. Contrast this to advertising at the industry level.
Imagine a country with two specific factors land and capital and one mobile factor of production labor. In this economy there are two industries each of which uses one specific factor and both industries use mobile factor labor. How is labor allocati..
If se economists ignore possibility of crowding out, illustrate what would they approximate marginal propensity to consume (MPC) to be
If U.S. interest rates fall relative to Japanese interest rates and Japanese inflation falls relative to U.S. inflation, then the: The Federal funds rate:
ABC Company currently does not have any debt. Its earnings before interest and taxes (EBIT) are $500,000, and it is a zero-growth company. The firm's tax rate is 40%. What is the firms cost of equity?
A Spanish can either produce 3 liters of win or 1 kilos of cheese. A Portuguese worker can either produce 4 litres of win or 12 kilos of cheese Which countries have absolute advantages in which goods? Which countries have comparative advantages in wh..
Siva Nathaniel owns various plots of land in Fulton County, Georgia. He acquired the land at various times during the last 20 years. About every fourth year, Siva subdivides into lots one of the property he owns. He then has water, sewer, natural gas..
In production theory, what distinguishes the short run from the long run? Can these periods be defined in terms of specific lengths of time? Why?
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