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What are the most important challenges that economists try to address? (ii) What is the role of government in a market based economy? (iii) Who are the main economic players and which are the most important factors of production in California? (iv) How can we expand the production possibilities curves? (give some examples at macro- and micro-economic levels)
explain how macro and micro issues may be represented using production possibility curve
Market failures (even when they do not have international external effects) i) Self-fulfilling bank runs, government debt runs, currency crises. ii) Liquidation costs of li
1. What is a resource market? 2. Describe resource demand and resource supply. 3. Define derived demand. 4. Describe the resource market demand and supply curve. 5. Define a te
Transfer Payments: Governments typically redistribute a share of tax revenues back to specified groups of individuals in form of several social programs (like welfare benefits, pub
THEORY OF INTER-TEMPORAL CONSUMPTION: In the previous two units, we have been concerned with choices among contemporaneous commodities. An important class of choices made by c
Suppose scientists discover that eating soybeans prevents cancer and heart disease. What effect would you predict on the price of soybeans?
characteristic of duopoly
Type of total outlay
draw a PPF when a hurricane slows down the nest two months of butter production?
how to solve Min (x+y/2, 2y+x, 3x)
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