1. Explain and evaluate: "If resources were infinitely abundant in relation to the demand for them, the economizing problem would dissolve in a sea of affluence."
2. Can ticket "scalping" be justified? Explain using economic analysis.
3. What are the economic effects of an appreciation of the dollar in foreign exchange markets?
4. Explain the perspective that tougher enforcement of drug laws for cocaine or other drug laws may actually increase the crime rate. Use the concepts of demand, supply, and elasticity in your explanation.
5. A vice president of a company argues that the president of the company should raise workers' wages if the president wants less absenteeism. The president says that wages probably should be cut so that the workers could not afford to miss so much work. Evaluate the two views using the income and substitution effects in your analysis.
6. What is the real cost of putting an unemployed laborer to work raking leaves or digging holes and refilling them during a serious depression? Explain
7. How does pure competition differ from other basic market models?
8. What are the basic characteristics of oligopoly? How does oligopoly compare with the other market structures?
9. What are the case against and the case for the minimum wage? What does the evidence indicate?
10. How can the economic perspective help us understand the behavior of fast-food consumers? Explain several insights it provides about customer behavior?