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Even though rational ignorance is a serious problem in democratic countries, why might we expect public ignorance to be worse in nondemocratic countries?
Identify a market failure that plays an important role in a movie, novel, short story, TV show, or song. Explain what the market failure is and how it is presented in the source. For example, one of my favorite movies is "Open Range," a western starr..
When the United States gives foreign aid to developing nations in Africa, which balance of payments account is affected? If asset owners in Japan and the United States consider Japanese and U.S. assets as good substitutes for each other and if the U...
You have been asked by your boss to estimate the cost to purchase a new piece of production equipment. The company purchased this same type of equipment in the past for $15,000. The original equipment had a capacity of 2,000 units, while the new equi..
The Japanese central bank is considering a contractionary monetary policy. Explain how this would affect the U.S. economy under a system of flexible exchange.
How high can the discount rate be before you would reject the project?
Consider two goods: apples and oranges. Draw an indifference curve diagram that shows apples on the horizontal axis and oranges on the vertical axis, an individual’s budget constraint, and the bundle (5 apples, 5 oranges) being the optimal consumptio..
Explain the connection between- tax burdens and elasticity, excess burden and elasticity
Give three numbers between -6 and 6 that satisfy the given condition. List the real positive numbers not integers.
What is an innovation economy? How does it differ from a traditional manufacturing economy?
1) Why do people use drugs? 2) Why do you think some people can use drugs recreationally (occasionally) without any problems when others become addicted?
How do you explain the wide variety of prices for virtually the same service, given that the cost to Hulu of providing each plan is basically the same?
The market for lemonade in a town consists of two lemonade stands (i.e., firms), 1 and 2. An agricultural economist estimates the following market demand for lemonade in this town: Q = 250 - P, where Q is the market quantity and P is the market price..
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