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Assignment: Economics
Discuss how economics impacts your own life.
After going through chapter 1 and the author's 10 Principles of Economics, give an example or two of how you might apply these principles to your own life and your own decision making.
Think about:
Question 1. What are some trade offs you have had to make? What has been the opportunity cost of making those tradeoffs? How have you thought on the margin in the past? What incentives have you responded to?
Question 2. How has trade made your life better/worse off? How have you experienced the "invisible hand"? Has the actions of government improved your life more than the market?
The Tax Reform Act of 1986 eliminated the deductibility of interest payments on consumer debt mostly credit cards and auto loans but maintained the deductibility of interest payments on mortgages and home equity loans.
Draw the total producer surplus (PS) on the graph by moving the 4 points of the reddish-purple square shaped box labelled PS. Note that the area may not necessarily be rectangular.
Does utilitarianism questions individual rights? What if violating the civil rights of minority increases the sum total of pleasure of the majority
Have you ever noticed something going on at home, in the workplace, or elsewhere in your daily life that seems environmentally wrong and that should be changed
In rich countries, governments almost always set the fares for taxi rides. The prices for taxi rides are the same in safe neighborhoods and in dangerous.
Identify an organization and recommend methods to reduce fixed and variable costs. What effects do technologies have on costs?
High capital-asset ratios are desirable as they offer a buffer against non-performing bank loans.The ratio is defined as the excess of bank liabilities over assets.
Submit your substantive and timely narrative. Each narrative shall include proper APA style in-text citations and references to textbook and, at minimum, one external authoritative source.
Describe how high entry barriers into a market will influence long-run profitability of the firms - Explain the competitive pressures that are present in markets with high barriers to entry.
Consider more generally y' = B + Ay - y2. Fix a value of B, and plot the bifurcation diagram that depends only on A. For which values of B do you see a different type of picture?
A monopoly has the inverse demand function P=200-Qand the cost function C=40Q. Set up the profit maximization problem and solve for the profit-maximizing price
Presume that a country has no public debt in year 1 however experiences a budget deficit of $30 billion in year 2, a budget deficit of $30 billion in year 3, a budget surplus of $10 billion in year 4, and a budget deficit of $2 billion in year 5. Wha..
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