Did 19th century thinkers agree with Adam Smith. How did , for instance Karl Marx view the doctrine of Laissez-Faire? What were the inevitable consequences if such economic system?

What were the influences of Adam Smith and his critics, like Marx, reflected in the mixed economy of the United States Today

INDPHARMA - U.S. Pharma, U.S. consumers, and Indian Pharma

Please be as detailed as possible:

Do the benefits from trade with the Indian pharmaceutical sector outweigh the losses?

The City of San Antonio is considering various options for providing water in its 50-year plan, including desalting. One brackish aquifer is expected to yield desalted water that will generate revenue of $4.1 million per year for the first 5 years, after which less production will decrease revenue by 10% per year each year. If the aquifer will be totally depleted in 23 years, what is the present worth of the desalting option revenue at an interest rate of 5% per year?

The present worth of the desalting option revenue at an interest rate of 5% per year is determined to be $

Why would the petroleum producing countries form a cartel (OPEC) to determine the price of their product?

Using a well-labelled diagram, explain how a shift in preferences towards a situation where parents derive less utility from children can affect the optimal fertility decisions.

Samantha earns a weekly income of $6000. Suppose she wishes to spend this income on two goods books and dresses only. A book costs $200 while a dress costs $600.

i. Draw Samantha’s budget line. Putting books on the Y axis.

ii. Suppose her income increases to $9000 per week, illustrate what happens to her budget line.

iii. Suppose the price of books increase to $600, while her income and the price of dresses is unchanged. Illustrate what happens to her budget line.

List and explain three properties of indifference curves.

31. Suppose a company is considering buying a new copier. The new machine is less labor intensive, and would save somewhat on the wage bill. A clerical assistant, working 10 hours a week (for 50 weeks a year), would not be needed any longer. This assistant, including all benefits and other compensation costs, costs $20 an hour.

A. What is the annual wage savings?

B. Suppose that the machine would last for 5 years. It requires a maintenance agreement, which would cost $500 annually. Use a discount rate of 5%. What is the most the company should be willing to pay for it?

What is the difference between a production function and an​ isoquant?

A.

A production function describes the maximum output that can be achieved with any given combination of inputs. An isoquant identifies the different types of inputs that can be used to produce various levels of output.

B.

A production function describes the minimum output that can be achieved with any given combination of inputs. An isoquant identifies all of the different combinations of inputs that can be used to produce one particular level of output.

C.

A production function describes the maximum output that can be achieved with any given combination of inputs. An isoquant identifies all of the different combinations of inputs that can be used to produce one particular level of output.

D.

A production function describes the minimum output that can be achieved with any given combination of inputs. An isoquant identifies the different types of inputs that can be used to produce various levels of output.

Which Model do you think best describes the relationship between Business, Government and Society? Capitalism Model, Dominance Model, Countervailing Forces Model or the Stockholder Model? Why do you think this Model?

Sarah and Andrew are two traders in a pure exchange economic with two goods, Bikes (B) and Computers (C). Sarah's preferences are described by the Cobb-Douglas Utility function: Us=B1/3SC2/3S U s = B S 1 / 3 C S 2 / 3 Andrew's preferences are given by: UA=B1/2AC1/2A U A = B A 1 / 2 C A 1 / 2 Assume the price of Bikes is 1 and the price of computers is p. The initial endowments are BA = 10, BS = 20, CA = 20 and CS = 10. What is the equilibrium price of computers relative to bikes (p)? Your Answer:

Why has there been a resurgence of interest in fiscal policy councils (FPCs) since the onset of the global financial crisis? Can FPCs be seen as a substitute for fiscal rules?

Economists believe people should get paid according to the value of the output they produce. This is fairly easy to determine when you produce something physical, such as cupcakes. However, it becomes very difficult to measure if you are providing a service (perhaps teaching, or you're a doctor treating a medical condition).

Regardless of how you measure the value of the output, the more productive you are the more valuable you are in the market to potential employers. This is the reason many economists are against the minimum wage and are for programs that contribute to improving an employee's productivity (such as education and training). There is surprising agreement with just how important education is in minimizing income inequality among economists.

Given this information, what would you recommend to policy makers? What do you think about various school districts having vastly different access to resources around the state, or even the country? Recall, spending more money on education does have an opportunity cost - be sure to include that in your answer.

Your answer should demonstrate the knowledge you learned over the course of the semester. Most require 300-400 words to adequately express their ideas.