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How to Restore Participating and Self-Support to Free Enterprise (Harvard University Press, 197), economist Edmund Phelps. Is the Phelps' plan an improvement over current government policies? 3. The availability of investment capital is critical for a market economy to grow. Explain how this investment capital is transformed into fixed capital goods, new technology, and cost reduction using new methods of production. Also, explain how interest rates impact the availability of investment capital. 4. Your text, on page 611, lists three arguments for trade restrictions. Since economists do not favor trade restrictions, and this is a course in Managerial Economics, make the case as an economist against trade restrictions for these three items. Are there any arguments for trade restrictions that most economists would support? Discuss. 5. Who was responsible for the global financial crisis of 2007-2009? Free-Market capitalism, government intervention, or a combination of both? Identify the causes of the crisis, the steps the private and public sector took to resolve it, and what leaders should do to keep it from happening again. Remember, banks are profit making firms who supply capital to suppliers of goods and services.
The ten firms have banded together to form a cartel, and the cartel sets the monopoly price. The cartel agreement limits each firm to an output of one-tenth of the total amount demanded at the cartel price.
Assume you are a marketing manager at a top marketing firm that manufactures dish soap. Which research method and tool would you select to collect data and why?The research method I would use to collect data would depend on whether I was collectin..
In current years non-tariff barriers have gained in importance as a protectionist device. Describe and evaluate the major non-tariff trade barriers.
Discuss three automatic expenditures in the federal budget. What is the difference between discretionary fiscal policy and automatic stabilizers?
A firm hires four workers and rents 16 acres of land for a season. It produces 150,000 bushels of crop. If it had doubled its land and labor,production would have been 335,000 bushels. Does it have constant, decreasing , or increasing returns to s..
Suppose instead that the government wishes to impose a value tax of $0.25 on each dollar of the consumer's expenditure on good 1.Show the effect of imposing this tax in a graph containing before and after budget lines.
A firm has the following cost functions: TC = 1200 + 2Q - 0.2Q2 + 0.01Q3 and MC = 2 - 0.4Q + 0.03Q2 A. Determine equations for the following: 1) total variable costs 2) average fixed costs 3) average variable costs 4) average total costs
Illustrate what economic forces and mechanisms work to maintain trade equilibrium. How does the balance of trade impact business decisions.
It is often suggested that giving the president a line-item veto would be a good way to make government work more eciently, as then he would not have to veto entire bills just because he felt one provision of the bill would make a bad law.
Suppose that 50 units of a good are demanded at a price of $1 per unit. A reduction in price to $0.20 results in an increase in quantity demanded to 70 units. Show that these data yield a price elasticity of 0.25. By what percentage would a 10 per..
Consumption accounts for about 60% of GDP, while investments accounts for about 20% for GDP. But many economists think that, to understand economic recession, it is more significant to look at investment than consumption. Why?
Develop a response that includes examples and evidence to support your ideas, and which clearly communicates the required message to your audience. Organize your response in a clear and logical manner as appropriate for the genre of writing. Use w..
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