Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Solved Assignments
Asked Questions
Answered Questions
Explain the economics of the substitution of ATMs for human tellers. What are these banks trying to accomplish?
What is the significance of resource pricing? Explain how the factors determining resource demand differ from those determining product demand.
Your opponent picks first. What number do you expect her to choose? Why? What number would you then pick? Why are the two numbers so close?
Construct game-theory matrix involving two firms and their decisions on high versus low advertising. Why won't they unilaterally cut their advertising budgets?
Explain why the firm will not hire a larger or smaller number of units of labor at each of these wage rates.
Why didn't GM reduce employment by more than 30,000 workers? By fewer than 30,000 workers?
Describe wage determination in a labor market in which workers are unorganized and many firms actively compete for the services of labor.
What is meant by investment in human capital? Use this concept to explain (a) wage differentials and (b) the long-run rise of real wage rates in the US.
What are the annual earnings to date of the top 10 men golfers on the PGA tour? What are the earnings of the top 10 women golfers on the LPGA tour?
Which industries and occupations have the highest rates of unionization? Which the lowest? Speculate on the reasons for such large differences.
What is the role of the deadline in encouraging agreement in collective bargaining?
What is the estimated size of the union wage advantage? How might this advantage diminish efficiency with which labor resources are allocated in the economy?
In what two ways do labor unions reduce labor turnover? How might such reductions increase productivity?
Discuss three major problems encountered by the statistical agency in their attempt to estimate the value of the nation's product.
Suppose instead that stations seek to maximize its profits from sales of DVDs. What price should it charge? How many DVDs should it order from which supplier?
Are the countries the same? What percentage of U.S. imports and exports are accounted for by the top 15 trading partners?
Has the dollar appreciated or depreciated against the yen? What was the least amount in dollars that your box lunch cost? The most?
If the former, when and where was the latest ministerial meeting? If the latter, what are the main features of the agreement?
What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space?
What can you conclude about how products A and B are related? Products C and D? What does it mean if an income elasticity coefficient is negative?
What was the highest price during the last 12 months? The lowest price? Assume the price fluctuations observed resulted exclusively from changes in demand.
What is the effect of cigarette taxes on the consumption of alcohol? What does that imply about the cross elasticity of demand between the two?
What are some explicit and implicit costs of attending college? Why does economist classify normal profit as a cost? Is economic profit a cost of production?
What explains the differences? Would you have purchased your items if you had received $500 in cash to be spent whenever and wherever you pleased?
How does this relate to the idea that diminishing marginal utility must be understood in context?