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What are the major determinants of the elasticity of demand? When would you want to own a business that sells price-elastic products? Why?
Today America has the world's largest economy as well as a very high standard of living. What factors in our economic history helped make this possible?
Over the last 100 years millions of Americans have left the farms. How have we managed to feed our growing population with fewer and fewer farmers?
In what ways were the 1990s like the 1920s, and in what ways were the two decades different?
What were the main agricultural developments over the last two centuries? How have wars affected our economy? Use specifi c examples.
What do you suppose were their policy recommendations? What arguments can be made to oppose those prescriptions?
Which of the two programs would you recommend? What additional information do you need to determine whether either is worth pursuing?
If they do make sense, what is a reason they are not installed? What will their installation likely do to driving habits?
Which had more C-sections, and why? What implications about the health care debate can you draw from the above results?
What effect will it have on dowries-payments made by the bride's family to the groom-which are still used in a number of developing countries?
How will people likely try to get around the system? What will likely happen immediately before? How might this be avoided?
How much do you value your life in dollar terms? Are your decisions consistent with that valuation?
Do you agree with this view? How might the presentation of economics change if economists did not have that fear? (Religious)
How reliable do you consider cost/benefit analysis as a policy analysis tool? Does cost/benefit analysis work better in some situations and worse in others?
How does the existence of these norms affect the analysis presented in the text about the way markets work? (Post-Keynesian)
What are the two ways to depict a demand schedule? Make up a demand schedule for some good or service you often buy.
If you were in a position to run our economy, what steps would you take to raise our rate of economic growth?
Would it be harder for a nation to attain full employment or full production? Explain. What is the opportunity cost you incurred by going to college?
Can you think of one such decision that was in the recent economic news?
Why is entrepreneurship central to every business firm? Can you think of any decisions you have recently made that incurred opportunity costs?
Explain the law of increasing costs, using a numerical example. Discuss the three concepts on which the law of increasing costs is based.
What are the three basic economic questions that all economies must answer? Describe the differences in the ways capitalism and socialism answer these questions
How far has China evolved into a market economy? What are the two basic classes of market failure? What would be an example of each?
Explain why you would prefer to live in a socialist or a capitalist country. Why would that label be misleading today?
If you were on a presidential commission whose purpose was to deal with spamming and robocalling, what recommendations would you make?