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1) Ironically technological advancements have made bartering, which used to be an extremely inefficient exchange of values, more and more popular in the present day. Think of and identify four situations where present day bartering becomes beneficial to both sides of the transaction.
2) Assume that you have 100 $1 bills. Assume also that I have 4 $100 bills. Explain why even though you have more paper money (100 pieces of paper), the value of my four pieces of paper is greater than yours.
3) Explain your opinion as to whether you feel that using a central bank (the Fed) to control all of the US's major monetary policies as well as all of its money is dangerous? What might be some of the unintended consequences of giving this much power to one private entity?
Why is that a profit maximizing businessman would always raise prices when facing an inelastic demand curve, but might or might not raise prices when facing an elastic demand curve? explain and justify your answers in detail.
For example, a firm in Ohio wishing to disguise the fact that it is surveying its own distributors might choose a name such as North Central Research Corporation under which to present the survey.
Identify some of the brand associations and brand personalities that are linked with OSCAR MAYER, SKETCHERS AND DELL
Elucidate each of the folling statements using supply and demand diagrams. When a cold snap hits Florida, the price of orange juice rises in super marlets through out the country.
Consider the market for health care insurance. If several health care insurers exit the market, how will this affect the market for health care insurance, ceteris paribus?
Analyze the factors that influence the banks desired excess reserve ratio, r e . What would happen to the magnitude of r e if:
Drawing Conclusions Why is investing in human capital beneficial?
Modify your game from Problem 1 to account for this private information, and find some equilibrium of this new game (remember that as in the class, each person will now take into account their private information when making their choice). Is the equ..
How Apple Inc. production function is related to its marginal product of labor?
How does international trade affect the prices in the domestic market and decisions related to firms to compete in both domestic and international markets?
Compare and contrast "interpretative" and "legislative" regulations and briefly discuss why the courts are less likely to invalidate a legislative regulation.
Markets are a very good way to organize economic activity in our economy. Why do we classify price floors and ceilings as a type of market failure and why does the government need to get involved in these types of markets?
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