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The governments at certain times have said they are going to cut the federal budget to decrease government spending. What are the two types of government spending categories and what roles do they play? Why isn't the use of spending through the federal budget a good way in which to stimulate economic growth?
If a company manufactures records and its cost equation for a week is C = 300 + 1.5x and its revenue equation is R = 2x, where x is the number of records sold in a week, how many records must be sold for the company to realize a profit?
"It is Adam Smith's greatest contribution that he recognized in the social world of economics what Isaac Newton had recognized in the physical world of the heavens: a self-regulating natural order." Paul Samuelson a. What was that "self-regulating..
A price discriminating monopolist produces two products that exhibit the following price elasticities of demand and does anybody can have a dominant strategy? Explain.
The following link should take you to an article by Krugman that appeared in The New York Times on September 6. 2009. He contrasts the stark differences between the salt water and fresh water camps of macroeconomists. What does he find to be the k..
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
What price would Soft Rock have to charge to sell 2,000 T shirts? Compute the own price elasticity of demand when the price goes from $5 to $4.
At the end of the year, you discover that the catch was low and that fish prices had increased to $5.00 per pound, but fruit prices stayed at $1.50 and meat prices had actually fallen to $2.00.
Explain the relationship between AP and MP. Be sure to use graphs to help support your answer. Calculate the MP and the AP for each worker
explores a case for which eco-labeling was used to skirt WTO rulings that force countries to treat products as equal even if the production process violates an environmental rule in the importing countries. Are free trade and environmental sustain..
Assume the following was overheard at the water cooler: "I think our medical device company should take advantage of economies of scale by increasing our output, thereby spreading out our overhead costs."
If GDP is rising by 3 percent per year how long will it take GDP to double? Given the same conditions how long will it take Per Capita GDP to double if the population grows at 2 percent?
Ann McCutcheon is hired as a consultant to a firm producing ball bearings. This firm sells in two distinct markets, each of which is completely sealed off from the other. What price should managers charge in each market?
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