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Problem
1. Describe an economic model you know. What assumptions does the model make? Are the assumptions reasonable?
2. What is the difference between disagreeing about a positive statement and disagreeing about a normative statement?
Microeconomics, Economics
Question: From 1947 to 1973, the US economy went through five recessions, while Europe and Japan did not have any. Since 1982, however, cyclical downturns in Europe and Japan have been at least as frequent as in the US. ...
Question: Okun What does Arthur Okun mean when he says that government can redistribute only in a Leaky Bucket? Explain why he may be right, and why he may be wrong. How much leakage would you accept? Why? In your answer ...
Question: Think of a time when you faced an ethical dilemma at work, at school, or at home. Be sure to choose a situation in which you had to choose between two or more options, each with negative consequences for you or ...
Question: Consider the corn market. Suppose marginal revenue is $25 and marginal cost is $20 and the output is 30 units of corn and profits are at $20,000. You are currently producing 30 units of corn. To get to the prof ...
Question: Research the role of an administrator in contrast to a non-management staff member in regards to risk management of an ADA (Americans With Disabilities Act) or workers' compensation incident in a typical health ...
Question: a. Find the Nash equilibrium (and also explain how you come up with this equilibrium) b. Explain the implication of this equilibrium with regard to its stability and its role as an efficient allocator of resour ...
Question: Explain the difference in the distribution mechanism for goods and services in the market and command systems. Discuss the implications of this difference in terms of efficiency. The response must be typed, sin ...
Question: Consider the Heckscher-Ohlin model from the slides in the case of no factor substitution. The production technology of food and cloth are: QF = min [LF/3 , KF] QC = min [KC/3 , LC]. The home country has 100 uni ...
Question: If the marginal cost of collecting garbage were constant at $6 per pound, what would be the optimal level of garbage collection? The response must be typed, single spaced, must be in times new roman font (size ...
Question: Please Using your own word. Under what circumstances is it necessary and desirable to monetize invaluable environmental amenities. How might this further environmental conservation efforts. The response must be ...
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