Questions
Think about the television programs and films you have seen recently that depicted business in some...

Think about the television programs and films you have seen recently that depicted business in some way. How were businesses and business people portrayed? Is there anything business could or should do to improve its media image? Some businesses try to stay out of the limelight. Why might that be? What do you think of that strategy? Do you believe that employees are more attracted and committed to ethical organizations? Are you? Why or why not?

In: Economics

Provide an example of a company that effectively uses social media for communicating to customers and...

Provide an example of a company that effectively uses social media for communicating to customers and explain why you think they are effective.

In: Economics

GIVE A THOROUGH EXPLANATION FOR WHY THIS STATEMENT IS TRUE & PROVIDE A RELEVANT GRAPH 1....

GIVE A THOROUGH EXPLANATION FOR WHY THIS STATEMENT IS TRUE & PROVIDE A RELEVANT GRAPH

1. The Elasticity of demand for labor is higher the higher the elasticity of supply of the substitutable input.

2. SL = MFC in a perfectly competitive input firm or for an imperfectly competitive firm that hires heterogeneous labor (or practices wage discrimination).

In: Economics

Consider the following economy: Labor supply: Nt= 90 Capital stock: Kt = 90 Government spending: Gt...

Consider the following economy:

Labor supply: Nt= 90

Capital stock: Kt = 90

Government spending: Gt = 20

Tax collections: Tt = 20

Production function: Yt = 2(Kt)0.5 (Nt)0.5

Real money demand Lt = 2Yt - 200rt

Consumption function: Ct = 16 + 0.8(Yd)t

Domestic price level: Pt = 4

Investment function: It = 25 - 50rt

Nominal money supply: Mt = 1296

QUESTIONS:

  1. (7 points) Find an expression for the IS curve.
  2. (7 points) Find an expression for the LM curve.
  3. (7 points) Find an expression for the aggregate demand curve.
  4. (7 points) What are the short run equilibrium values for output, interest rate and price level?
  5. (7 points) Plot (a)-(d) on the IS-LM and AD-SRAS-LRAS diagrams. Make sure to label (i) the axes, (ii) the curves and (iii) the initial equilibrium levels.
  6. (7 points) Is this a short-run level of output also a long-run equilibrium? Explain.
  7. (7 points). Suppose that the government the Fed increases money supply to Ms=1620. Find the new short-run equilibrium levels of output and interest rate
  8. (7 points) Find the long-run equilibrium levels of output, interest rates and prices.
  9. (7 points) Graph this combination of policies both in the short and in the long run.
  10. (7 points) Explain how the adjustment from the short-run to the long-run occurs.

In: Economics

List and briefly explain each of the four properties of indifference curves. Provide an example where...

List and briefly explain each of the four properties of indifference curves. Provide an example where you have made a buying decision based on one or more of these properties. Justify your answer.

In: Economics

A. In what way can government's expenditures on education affect the economic growth? In what way...

A. In what way can government's expenditures on education affect the economic growth? In what way the economic growth can affect government's expenditures on education?

B. Discuss pros and cons for small local governments' units.

C. "Higher earners should be subject to higher tax rate". Discuss.

In: Economics

Create an effective economics cover letter for a firm. Stating good skills and experience. Please ensure...

Create an effective economics cover letter for a firm. Stating good skills and experience.

Please ensure that the quality of writing is of excellent quality.

In: Economics

1) Suppose three countries were self sufficient and produced along a straight line production possibility curve....

1) Suppose three countries were self sufficient and produced along a straight line production possibility curve. The maximum amounts of clothing and cars each can produce by using all of its resources are as follows:

Canada Mexico United States

Clothing 6 15 30

Cars 20 20 30

a) What is the cost of a car, expressed in terms of clothing, in each country? Who has the comparative advantage in producing cars?

b)Draw the world’d production possibility curve and if

the three countries find themselves in an open economy.

Graph the marginal cost of of producing cars in this

simple economy. Make sure to explain each graph.

2) Suppose a lake is publicly owned, i.e. a common property resource, with free fishing for all. The number of fish caught varies with the number of people fishing as follows:

​Labour Total Product

1 13

2 25

3 36

4 46

5 55

6 63

7 70

8 76

9 81

Assume the market price of these fish is $10 per fish, and this price is not affected by the number of fish caught in this lake. Assume that all fishermen can earn $100 per day in their next best alternative. Assume the fishermen share equally in the proceeds of the lake.

a) Explain much fishing will occur ina common property setting i.e. how many people would join the fishery?

b) Assume now that the lake is privately owned and the owner hires fishermen for $100 per day. How much fishing would the owner allow i.e. how many people would join the fishery?

c) Why is the common property result considered to be inefficient?

3) “The steel industry must be protected from cheap foreign imports. If steel does not receive (tariff) protection, foreign imports will drive American producers out of business, thus reducing the number of jobs available to Americans.” Explain why the person making this statement is ill informed about economic principles. What is the flaw in their reasoning?

4) A. Gomez runs a small pottery firm. He hires one helper at $12,000 per year, pays annual rent of $5,000 for his shop,and spends $20,000 per year on materials. He has $40,000 of his own funds invested in equipment that could earn him $4,000 per year if alternatively invested. He has been offered $15,000 per year to work as a potter for a competitor. Total annual revenue from pottery sales is $72,000. What is the economic profit of Gomez’s pottery firm? Explain your reasoning.

B. You own a cigar company in Cuba. You produce 999 boxes of cigars per year. Your average cost per box is $1.00. Paul Martin offers you $5.00 to produce an extra box so that he can give it to his best friend George W. Bush. If you accept his offer you average costs per box will be $1.01. What should you do?

In: Economics

Explain the model of labor migration to and from urban areas as fully as you can...

Explain the model of labor migration to and from urban areas as fully as you can in words. In particular address the following:

a. Why do young workers and some older workers locate in the urban area?

b. Who locates in the rural area? Why?

c. Why don’t firms all locate in one large city?

d. What determines the lifetime incomes of workers?

e. Explain the conditions for steady-state equilibrium.

In: Economics

Discussion 7 - Chapter 6 -The Staff Working in Corrections Be able to discuss the role...

Discussion 7 - Chapter 6 -The Staff Working in Corrections

Be able to discuss the role of a Correctional officer in New Jersey. Discuss the qualifications needed,job assignments,issues facing officers today, and correctional officers personalities in relation to the job.

In: Economics

PLEASE ANSWER EACH QUESTION 1 thru 4 Question 1. In a market with perfectly competitive firms,...

PLEASE ANSWER EACH QUESTION 1 thru 4

Question 1.

In a market with perfectly competitive firms, the market demand curve is and the demand curve facing each individual firm is?

Select one:

a. downward sloping; horizontal

b. upward sloping; horizontal

c. horizontal; upward sloping

d. horizontal; downward sloping

e. horizontal; horizontal

Question 2.

Pure monopoly is defined as?

Select one:

a. an industry consisting of a single seller.

b. a market in which many rival firms compete for sales.

c. a market structure consisting of a single buyer.

d. a market structure that involves many substitute products.

Tom is the monopoly provider of a town's TV cable service, whose current subscription price is $20.00 per month. In order to attract one more subscriber, he has to lower his price to $19.95. What is true of Tom's marginal revenue from that additional subscriber?

Question 3

Select one:

a. Tom's marginal revenue is between $19.95 and $20.00.

b. Tom's marginal revenue is greater than $19.95.

c. Tom's marginal revenue equals $19.95.

d. Tom's marginal revenue is less than $19.95.

Question 4.

Which market structure has the largest number of firms?

Select one:

a. monopolistic competition

b. monopoly

c. oligopoly

d. perfect competition

In: Economics

3.         Explain why average total cost and average variable cost tend to get closer as output...

3.         Explain why average total cost and average variable cost tend to get closer as output increases. Will the curves ever meet? Why or why not?

In: Economics

Make a paragraph describing the changing roles of women following the American Revolution

Make a paragraph describing the changing roles of women following the American Revolution

In: Economics

a) What are the justification for public intervention when one of the hypothesis of the first...

a) What are the justification for public intervention when one of the hypothesis of the first theorem of welfare is violated?

b) Outline the major limits and shortcomings of economic policy coordination.

c) Write short notes on each of the following.

i) Actual (financial) or cyclically adjusted (structural) deficit.

ii) Budgetary balance

In: Economics

Your Best, Inc. Christie worked for a retail company and noticed there were many things it...

Your Best, Inc.

Christie worked for a retail company and noticed there were many things it could do better. She shared some of her ideas with upper management, but it did not want to do things differently. When Christie went home to talk to her husband, they both realized that, given her passion, it would be better for Christie to open her own business. After a lot of consideration, she decided to open a sporting goods store called Your Best, Inc. She also knew just where to open the storeright next to her house.

To be certain to address all aspects of the business, Christie hired a marketing research firm to determine the best location. Once all the research was compiled and analyzed, she realized that it would actually be better to open the store in a different area. She also realized that deciding where to locate the business was not the only major concern. More specifically, she would have to focus on the four elements of the marketing mix as well, creating a whole marketing plan. Her husband mentioned the possibility of using online information services to help with the business. With her husband's support and a good marketing plan, Christie felt that she would be prepared to make the right decisions.
5.

Refer to Your Best, Inc. Marketing research involves
a.
satisfying customers.
b.
determining a target market.
c.
creating a product mix.
d.
interpreting information.
e.
product promotion.
6.

Refer to Your Best, Inc. Christie thought about focusing on the four elements of the marketing mix. Which of the following is one of those elements?
a.
Production
b.
Price
c.
Power
d.
Possession
e.
Personal income
7.

Refer to Your Best, Inc. In preparing a marketing plan, Christie should ensure that all of the following components are included except a(n)
a.
executive summary.
b.
SWOT analysis.
c.
production schedule.
d.
environmental analysis.
e.
evaluation and control.
8.

Refer to Your Best, Inc. If Christie were to use information services available online, they would offer her access to which of the following?
a.
Databases
b.
Financial assistance
c.
Physical location
d.
Production materials
e.
Disposable income
9.

Refer to Your Best, Inc. When Christie's business gets going, her income less all additional personal taxes would be called her
a.
business buying behavior.
b.
disposable income.
c.
IRS imposed income.
d.
discretionary income.
e.
total loss.

In: Economics

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