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Why aren't the quotas abolished? Has government action in this area improved the living standards of Americans? Why or why not?
When governments become heavily involved in taxtransfer activities, how will this involvement affect economic efficiency?
What percentage of government income transfer payments go to the poor? Do you think that the political process in general works to the advantage of the poor?
Why are these things excluded? Is GDP a sexist measure? Does it understate the productive contributions of women relative to men? Discuss.
Which would be better to use if you want to measure whether your hourly earnings this year were higher than they were last year? Why?
What are price indexes designed to measure? Outline how they are constructed. When GDP and other income figures are compared across time periods.
What were the real earnings of private nonagricultural production workers in 2003 measured in 1982 dollars?
What impact will high and variable rates of inflation have on the economy? How will they influence risk accompanying long-term contracts and related business?
Does this mean that there were no jobs available? Does it mean that there were no jobs available for which the unemployed workers were qualified?
Is the natural rate of unemployment fixed? Why or why not? How are full employment and the natural rate of unemployment related?
List the major phases of the business cycle and indicate how real GDP, employment, and unemployment change during these phases.
How would your study habits be influenced if everyone in the class were going to be given an A grade?
Which of the two groups will participate more in the workforce? Which of the two groups will bear a larger number of children on average?
Somebody has to develop notions about which industries are winners and which are losers. Is this statement by a newspaper columnist true? Who is the somebody?
How will this higher demand for a college education affect tuition prices? How will it affect cost of college for families who don't qualify for tax deduction?
Describe consumer and producer surplus. What is meant by economic efficiency, and how does it relate to consumer and producer surplus?
What is being held constant when the supply curve is constructed for a specific good like pizza or automobiles?
Why are prices an accurate reflection of a good's total value? Are prices an accurate reflection of a good's marginal value?
What is being held constant when a demand curve for a specific product is constructed? Explain why the demand curve for a product slopes downward to the right.
What happens to his or her opportunity cost of doing other things? How is the time spent on leisure likely to change?
What is the difference between a price ceiling and a price floor? What will happen if a price ceiling is imposed below the market equilibrium?
Explain how will a substantial increase in demand for housing affect the wages and employment of carpenters, plumbers, and electricians?
How is the market price of a good determined? How will consumers value an additional unit compared to the opportunity cost of producing that unit?
Discuss what is the difference between substitutes and complements? Indicate goods that are substitutes for each other. Indicate goods that are complements.
What is the invisible hand principle? Does it indicate that self-interested behavior within markets will result in actions that are beneficial to others?