Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Solved Assignments
Asked Questions
Answered Questions
Use a demand and supply graph to describe developments in the market for Mighty Morphin Power Rangers toys.
Sketch a demand and supply diagram for the unskilled labor market, and discuss the effects of a minimum wage.
Does this mean that making uninformed decisions is irrational? How do you determine how much information is the right amount?
(Rational Self-Interest) If behavior is governed by rational self-interest, why do people make charitable contributions?
How does microeconomics relate to macroeconomics? Determine whether each of the following statements is normative or positive.
Which group of economic decision makers plays the leading role in economic system? Which groups play supporting roles? In what sense are they supporting actors?
In 1990, the U.S. government imposed a 10 percent taxon certain luxuries such as pleasure boats. What does this implyabout the size of the elasticity of demand?
Why is the United States more like a pure capitalist system or more like a pure command system?
In response to an influx of illegal aliens, Congress made it federal offense to hire them. How do you think this measure affected US production frontier?
Under what conditions is it possible to increase production of one good without decreasing production of another good?
Sketch a graph to illustrate the relationship between the price of a pizza and the number of toppings for up to 5 toppings.
Suppose plant biologists develop a new type of potato that increases. Show how the new production possibilities curve would differ from the original.
Try to determine how smoothly the transition is proceeding. What problems is that nation encountering?
The United States is best described as having a mixed economic system. What are some elements of command in U.S. economy? What are some elements of tradition?
Draw your PPF for studying and partying. Label the points where the PPF intersects the axes, as well as several other points along the frontier.
If the supply of capital falls by 10 percent and the supply of labor increases by 10 percent, explain how will the PPF for wheat and cloth change?
Provide some examples of specialized markets or retail outlets. Disucss what makes the Web conducive to specialization?
You can either spend spring break working at home for $80 per day or go to Florida for the week. Find What's your opportunity cost of going to Florida?
Was this bumper crop of students caused by a greater expected return on a college education or by change in the opportunity cost of attending college? Explain.
Some examples of rationing devices are auctions, ration coupons, and first-come, first-served systems. What are the strengths and weaknesses of each?
Listed below are several policies or events that affect the performance of the economy.
Suppose that you have highly non convex preferences for ice cream and olives like those given in the text. List the choices for the optimal consumption bundles.
If the funds can be invested at 9.6% compounded annually, how much should his initial investment be?
Discuss what is the connection between crime and unequal access to basic services. Explain, at least, four connecting factors?
An oil company contemplates investing 100 million dollars per year (in constant dollars). If the real discount rate were 10%/yr, what is the maximum time delay?