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Three of the five great power systems do not depend heavily on the rule of contract law. How have two of them succeeded despite this handicap?
What is intraindustry trade, how is it measured, and how does it differ from interindustry trade? Are the gains from trade similar?
Why Will the anticipated reconfiguration of wealth and income correspond with universalist market theory? Could it be destabilizing?
What does contract law suggest about the importance of culture and the adverse side effects of globalization?
Why do UN data confirm this prediction? Is the superior performance of China explicable on other competitive principles like the catch-up effect?
Why does econometric analysis using data from controlled and mismanaged economies run the danger of misconstruing causality?
Why do planning and misgovemance obscure value added, national income, and the aessment of factor allocation! efficiency? Explain.
We learned about the important functions of political parties.
Discuss how exchange rates are determined using supply and demand. Give some examples. Minimum of 50 words.
Discuss the opportunity cost with which the father is presented? What is the opportunity cost for the little girl spending time with her father?
In which direction do you think the labor supply and demand shifted? Explain your reasoning.
Management estimates the relationship between demand, D, and price, P, by the linear function D = 2,400 - 0.6P.
Private property is often casually assumed to be everywhere the same. How does Chinese private ownership differ from the ideal, and why does this matter?
Why Does maximizing profits cause moral hazard? Are the dangers the same as those of other kinds of state administration? Compare.
Why do economists find it convenient to restrict the term economics to work activi. and how does this relate to the problem of computing GDP?
Can leisure involve economic optimization? Should you choose assortment of lei: activities within your budget of money and time that maximizes your well-being?
How do the terms of the implicit social contract underlying the law of supply and demand equilibration affect the merit of economic outcomes?
What is the Walrasian excess demand price adjustment mechanism? In which markets does it best apply?
How does this joint dependency enhance market efficiency, compared with relying on direct binary negotiation?
If the law of demand boils down to the assertion that people can and will ascertain. What does this suggest about their corresponding supply programs?
Why is utility maximized by choosing the product assortment where the budget constraint is tangent to one's highest indifference curve?
Why are we able to use a perfectly competitive benchmark for assessing the perform-ance of competitive and controlled economies?
What assumption justifies treating all economies alike, and allows economists to eclectically recommend market and planning solutions to current problems?
Why might you expect the marginal product of additional workers to diminish eventually?
How does this change in demand and/or supply affect the equilibrium prices and quantity in the market? In other words, do they increase or decrease?