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What are the Millennium Development Goals (MDGs) and how did they come about? What do you consider to be the most important of these and why?
The terms below are measures or individual components of the money supply. Specifically considering the money supply of the United States, rank these items from largest to smallest in terms of dollar value. M2, currency, travelers checks, balances in..
Why have poorer countries become offshore manufacturing centers? What impact does this manufacturing have on local water supplies? What implications does this have, especially in locations where clean water is already in short supply? Is water a comm..
The single most important health policy choice in the United States over the past four decades has nothing to do with the Department.
Suppose that two players are playing the following game. Player A can choose either Top or Bottom, and Player B can choose either Left or Right. The payoffs are given in the following table: where the number on the left is the payoff to Player A, and..
Suppose state income taxes and local income taxes are treated as expenses for purposes of calculating federal taxable income and hence federal income taxes. Determine the effective income tax rate when the federal income tax rate is 31%, the state in..
Predatory pricing is easy to prove in a court of law. An incumbent firm may experience a learning curve that allows it to produce at a lower cost than a potential entrant. A firm receives no individual benefit from strategies that raise the marginal ..
Firm i produces its product in a perfectly competitive market. In the figure below, the Average Total Cost and Marginal Cost of producing that product are given by the ATC and MC curves, respectively. Find the profit maximizing quantity, and call it..
In a presentation about Serbia’s future entry into the European Union, the speaker indicates that the effects of trade creation will be equal to about 2% of Serbia’s gross domestic product and the overall effects of trade diversion will be equal to a..
Two equal-sized newspapers have overlap circulation of 10% (10% of the subscribers subscribe to both newspapers). Advertisers are willing to pay $10 to advertise in one newspaper but only $19 to advertise in both, because they’re unwilling to pay twi..
DIMINISHING MARGINAL PRODUCT - Suppose you are the owner of any type of hypothetical start-up business. Suppose your total revenue is currently increasing when you use more inputs (materials, labor, machines, etc). Do you think you are maximizing the..
Compare and contrast for-profit and non-profit organizations. Compare and contrast in terms of economic policies.
Which of the following statements are positive and which are normative?
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