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Explain why unionized workers generally receive more generous fringe benefits than non unionized workers.
Describe three key inputs (or factors of production) and fixed and variable costs involved in the production of your chosen product or service.
What prevent firm attempting to price discriminate from being successful? Would oligopoly or monopolistically competitive firms be likely to price discriminate?
Describe a situation in which you were highly motivated to do well. What motivated you? Why? How did you perform?
Describe both Law of Demand & Law of Supply regarding price changes relative to the substitution and income effect?
Describe the effects of employment discrimination on wages. How could this impact ones business decisions in relation to labor costs?
Describe complexity economics in detail. What do you see as the strengths and weaknesses of this approach to macroeconomics? Explain your answer fully.
Describe the budgeting process, and discuss why the budgeting process is often difficult and time-consuming.
A deposit of 1000 is planned for the end of each year into an account paying 6% per compounded annually. What is the weighted average cost of capital?
If the government were to impose a price floor of $12, What is the deadweight loss created by the price floor?
Define externalities as they relate to the price of goods and services, and examine how they can distort market forces of supply and demand.
Discuss how financial markets in the United States support that concept of risk aversion. Examples would be useful in this discussion.
Define and discuss what is meant by an exchange rate. Then, discuss how exchange rates vary in a flexible exchange rate system.
How many basketballs does DTR produce? At what price are they sold and what is DTR's profit at that price?
Widgets can be produced in the United States or abroad. If international trade is allowed, what is the equilibrium price?
Derive the world relative supply curve of tables. Under free trade, which country produces which good(s)? How many units?
Fiscal policy to restore full-employment. Monetary police to restore full-employment. What is the price level in the long run if we do nothing.
Why can you write an expression for S(ß) for the general case with arbitrary constraints x = (x1, . . . , xK), using the free energy and perhaps its derivative?
Find the Delta, Theta, and Gamma of the option at time 0. Find the approximate value of the option at the end of week 1. Assume there are 52 weeks in a year.
Find the first-order conditions with respect to c and m. Find the expression for money demand. How is money demand affected by changes in consumption?
Draw the long run market diagram for a perfectly competitive, increasing-cost industry with both the short run and long run supply curves.
Draw the long run market diagram with both short run and long run supply curves. What are differences in your diagram? Explain why we do see these differences.
Write the principal's maximization problem when effort is verifiable. When effort is verifiable, what are the optimal values for a and ß for the principal?
What effort level will maximize the agent's expected utility? Derive the optimal values for a and ß for the principal when effort is unverifiable.
Write the problem of cost minimization. Interpret. What is the condition that the optimal choice of inputs has to satisfy? Interpret.