Reference no: EM13741157
1. Is market capitalism necessary for freedom? Explain why or why not.
2. Are market economies necessarily “capitalist” and are command economies necessarily “socialist”? Why or why not?
3. What causes macroeconomic instability of market capitalism? Explain.
4. How does the U.S. economy compare with other market capitalist economies with respect to its degree of industrial concentration and the nature of its antitrust policies?
5. What are the limitations of central planning?
6. According to Marxian labor theory of value, what is the value of a piece of capital equipment?
7. Why in most modern economies is zakat unlikely to be able to resolve major income inequalities?
8. What are similarities between Roman Catholic and Islamic economic views?
9. What are some of the reasons that the U.S. has greater degrees of income and wealth inequality than other high-income market capitalist economies?
10. Some studies suggest that higher income inequality is more readily accepted by the U.S. population than it would be in other high-income countries. Why might this be true?
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Production function short-run-long-run production function
: The table below represents the production function for Hawg Wild, a small catering company specializing in barbecued pork. The numbers in the cells represent the number of customers that can be served with various combinations of labor and capital.
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Enough retained earnings to finance an investment project
: A firm has enough retained earnings to finance an investment project. For this firm, the market interest rate:
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Draw the average product of labor and provide its formula
: Suppose that a biotech firm makes diagnostic tests and has a fixed-proportions production function in which one unit of output (diagnostic test) is produced using one worker and two units of capital (machines). If the firm has an extra worker and no ..
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Preferable than the distribution of household income
: The distribution of family income is preferable than the distribution of household income because
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What causes macroeconomic instability of market capitalism
: Is market capitalism necessary for freedom? Explain why or why not. Are market economies necessarily “capitalist” and are command economies necessarily “socialist”? Why or why not? What causes macroeconomic instability of market capitalism? Explain.
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Business organization provides for limited liability
: The text defines an economic system as, Dynamic efficiency measures, Which of the following legal forms of business organization provides for limited liability? Privatization in transition economies is often justified on the grounds of increasing
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After-transfers family income is the sum
: According to the human skills theory of comparative advantage, developing countries would be expected to have a(n). After-transfers family income is the sum of
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Determine the equilibrium real interest rate
: Use the following data table to determine the equilibrium real interest rate after certain factors change: Month Real Interest Rate (%) Loan able Funds (trillions of $) Exogenous Change Equilibria (increases, decreases, or no change)
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Period-expressed in base-year dollars of value
: Suppose that since some base year, the the price index (or GDP deflator) has increased from 100 to 125. During the same time period, NOMINAL GDP has increased from $500 billion to $600 billion. What is the value of REAL GDP at the end of this period ..
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