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1(a) Why will a person who has transferable (saleable) property rights in a business for which he is making decisions, be more influenced by the longer run effect of his decisions than if he did not have transferable property rights in the business?
(b) Explain the influence that transferable property rights versus non-transferable property rights, has on individual decision making.
2. "Long ago we stated the reason for labor organizations. We said that they were organized out of the necessities of the situation; that a single employee was helpless in dealing with an employer; that he was dependent ordinarily on his daily wage for the maintenance of himself and his family; that if the employer refused to pay him the wages that he thought fair, he was nevertheless unable to leave the employer and resist arbitrary and unfair treatment; that a union was essential to give laborers opportunity to deal on an equality with their employer." This statement was made by Chief Justice Charles Hughes, of the Supreme Court of the United States in the case of United States v. Jones and Laughlin, 1937. Evaluate Chief Justice Hughes' propositions for their meaning.
3. A large lake is stocked with excellent fish, but no one owns the fish or the lake. Only by catching the fish can you acquire ownership of the fish.
(a) What do you think will be the average age of fish caught as compared to the age of fish in a privately owned lake? (b) Which system will induce over fishing in the sense that more resources will be devoted to catching fish than the extra fish caught are worth? Why?
Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.
In article on the steel industry, The Wall Street Journal noted that as steel prices were falling, steelmakers were not cutting production
Compute the expected value (revenue) from each project. Compute the coefficient of variation of each project, and find out which project should the company choose. Compute the variance and standard deviation of expected value from each project.
Consider the problem of the book assuming that the utility is Cobb-Douglas (U (C, l) = C α l β )
The questions posed are broad and open ended so be careful to allow yourself enough research and planning time.
Human service interactions in terms of macro systems-communities and organizations. Empowerment is basically a process to assist people groups, families and communities, individuals, to use their strengths to overcome their challenges.
Assume that Florida migrant workers are effectively unionized. What will be the impact of unionization on?
How income may change savings behavior
Engineers at national research laboratory built a prototype automobile which could be driven 180 miles on single gallon of unleaded gasoline. They estimated that in the mass production the care would cost 40k for each unit to build.
Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?
Describe the Soviet Rapid Development Model
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