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Inflation and Relative Price Changes What does the consumer price index measure? Does the index measure changes in relative prices? Why, or why not?
Explain as carefully as you can why borrowers would be willing to pay a higher interest rate if they expected the inflation rate to increase in the future.
Why is a relatively constant and predictable inflation rate less harmful to an economy than a rate that fluctuates unpredictably?
What would be the size of the U.S. labor force? If 85 million adults are not working, what is the unemployment rate?
Sources of Inflation Using the concepts of aggregate supply and aggregate demand, explain why inflation usually increases during wartime.
Distribution of Costs and Benefits Why are consumer interest groups usually less effective than producer lobbies in influencing legislation?
Choose one article about a foreign country and write an analysis of the underground economy there.
On the Results page, go to the Global Viewpoints Section. Read the editorial Global Public Goods and Health. What is a global public good?
The motivation behind campaign finance reform was to limit the influence of special interests. In what sense could that legislation have the opposite effect?
Bureaucracy and Representative Democracy How do the incentives and feedback for government bureaus differ from those for profit-making firms?
What is the underground economy? What is the impact on the underground economy of instituting a tax on a certain productive activity?
What role might the underground economy play in lessening the drop in productive activities?
Why is the net gain equal to triangle abc, even though consumers now pay a higher price for electricity?
What other condition is necessary? What did Coase consider to be an efficient solution to a negative externality?
Why does the assignment of property rights to the stream lead to the same (efficient) level of pollution whether the firm or recreational users own the stream?
Why does a solution to the overharvesting of timber in the tropical rainforests require some form of international cooperation?
Why have authorities found it so difficult to regulate the fishing catch in the open ocean to allow for a sustainable yield?
Consider discrimination in schooling, for example. How would researchers detect such discrimination?
Poverty and Public Choice Why is it difficult to pass legislation to reduce the growth in Social Security or Medicare benefits?
Why have the experiences of these two age groups differed?
What government assistance programs does the Census Bureau consider when calculating household income? What programs are ignored?
Income Differences List some reasons why household incomes differ. Which factors are the most important?
Choose one of the topics listed and read the overview for that topic. Analyze the marginal social benefit and marginal social cost involved in your chosen topic
Is the program described an example of command-and-control environmental regulation or of the economic efficiency approach?
How are economic fluctuations linked among national economies? Could a recession in the United States trigger a recession abroad?