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The airline was, indeed, eventually forced to close down, costing many jobs. Discuss what might nevertheless have led the unions to hold out so tenaciously.
Why is it so difficult to define full employment? What unemployment rate should the government be shooting for today?
After 25 years, how much larger is Country B's economy than Country A's economy? Why is the answer not 25 percent?
Try asking a friend who has not studied economics in which year he or she thinks prices were higher: 1870 or 1900? Why do you think peoples have this opinion?
Why unemployment in the United States fell from 2003 to 2006? Why college tuition costs have risen so rapidly in recent years?
If you were the youngest son of an English nobleman in the Middle Ages. What kinds of innovation would be appreciated by people in power?
How did Julius Caesar attain his position in Rome and in history? In what sense can his activities be said to have been entrepreneurial?
What steps should the United States consider undertaking to protect itself from the fate of other countries that once were economic leaders of the world?
Define the poverty rate. Does it rise or fall during recessions? If the poverty line was adjusted only for inflation, what would it be now?
Discuss the concept of the optimal amount of inequality. What are some of the practical problems in determining how much inequality really is optimal?
Does the evidence support that view? Is it a decisive argument against a flat tax? How is the trade-off between equality and efficiency involved here?
What would happen to an economy in which the aggregate supply curve never moved while the aggregate demand curve shifted outward year after year.
Most economists believe that from 2003 to 2006, actual GDP in the United States grew. What should have happened to the unemployment rate over those three years?
Labor productivity grows at a rate of 2 percent in Country A and rate of 2.5 percent in Country B. What are growth rates of potential GDP in the two countries?
If inflation proves to be lower during your college years than what you both had expected, who will gain and who will lose?
What happens to Poorland's potential GDP if it acquires some new advanced technology from Richland and starts using it?
What are the four main components of aggregate demand? Which is the largest? Which is the smallest? Your family buys an older home from another family.
Discuss some of the pros of increasing development assistance, both from the point of view of the donor country and the point of view of the recipient country.
Explain why economic growth might be higher in a country with well-established property rights and a stable political system compared with a country.
Use this graph to show that capital formation increases labor productivity. Explain in words why labor is more productive when the capital stock is larger.
If anyone is free to challenge the patent so that there is free entry into the litigation process, how much will end up being spent in the legal battles?
How may that change affect the efficient allocation of resources between tea and coffee? How would the prices of coffee and tea react in a free market?
Give some examples of goods whose production causes detrimental externalities and some examples of goods whose production creates beneficial externalities.
Think about the goods and services that your local government provides. Which are public goods as economists use the term?
Why services of a lighthouse are sometimes used as an example of a public good. Explain why education is not a very satisfactory example of a public good.