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What are some of the typical challenges project described in one of the feature boxes in this chapter (for example, the What Went Right?
What are the primary defining characteristics of macroeconomics? What makes macroeconomics different from microeconomics? What do they have in common?
What are Joanne's total revenues? List 2 important implicit costs that Joanne has not included. What are Joanne's explicit costs? In numbers.
One of the characteristic of some developing economies is the relatively low level of trust of people. How might the models explored shed light on this problem?
Describe a well planned and executed project. Describe a failed a failed project. What elements of project integration might have contributed to the success?
Identify your fixed and variable costs at your fast-food restaurant, and explain the changes to each of these costs given the increased demand.
Will there be enough revenues to cover the cost of proving the public good? Why does this price level not generate an efficient situation?
If you could turn back the clock to the time of the Great Depression, what experiment would you like to run on the U.S. economy? Why?
hat is unrealistic about this model? How well does the model perform its intended function?
How large will the money supply be if the required reserve ratio is 10 percent? 121 /2percent? 162 /3 percent?
Suppose the Fed purchases $5 billion worth of government bonds from Bill Gates, who banks at the Bank of America in San Francisco.
Treasury bills have a fixed face value and pay interest by selling at discount. Suppose price of Treasury bill falls to $925. What happens to the interest rate?
Country A has a mercantilist government that believes it is always best. What were the advantages or disadvantages of the surplus to Country A? To Country B?
What sorts of products do you think it is likely to produce? What are the characteristics of the countries with which you would expect it to trade?
You decide to swap six shirts for three pairs of shoes. Explain why you are nevertheless both likely to be better off.
Explain why dividing the two does not give a good estimate of the marginal propensity to consume.
When the income-tax rate declines, as it did in the United States early in this decade. Discuss the pros and cons of having a higher or lower multiplier.
Why, then, don't bankers like to hold excess reserves? What circumstances might persuade them that it would be advisable to hold excess reserves?
Some politicians and others have advocated lower taxes on saving as a remedy. Do you expect such a program to be very effective? Why?
If rent constitutes only 2 percent of the incomes of Americans, why may the concept nevertheless be significant?
Discuss concept of financial rate of return on a college education. If this return is less than return on bank account, does that mean you should quit college?
Theory Based upon the reading of the three short HBR articles on the effects of Tariffs and Quotas respond the following three questions.
Can you characterize the difference between the two types of jobs in general terms?
Explain what a doubling of the number of customers for your snow cleaner will do to the R&D component of your marginal costs.
In the general public, explain why snow cleaner is an externality. How large is it? Is it a beneficial externality?