Discuss the major differences of European welfare states and the American welfare state? What is the most striking difference? What kinds of conversations might you have with family or friends about this? How will you feel safe?

Do you agree or not and explain why in each of the three cases:

A. If the CPI goes down from 240 to 235, then there is disinflation in the economy.  

B. Prices of some goods may fall and other goods prices will rise.

C. Price for all goods and service increase at the same rate and in all locations in the US.

How could government prevent banks from failing due to insolvency and illiquidity?

In what ways do you think technology is changing the nature of customer service and service offerings? Provide an example to support your opinion.

A consumer has demand for two different goods, x and y, which he chooses to maximize the utility function:

U(x,y)=√x+√y (x≥0, y≥0) subject to the budget constraint:

px+qy=m (m,p,q>0)

where p is the price of good x, q is the price of good y, and m is total income a) Show that the utility function is concave

b) Write out the Lagrangian for the constrained maximization problem, assuming consumer spends his full income

c) Find the utility maximizing demands for both goods, as well as the Lagrange multiplier, all as functions of the three exogenous variables

d) Are the demand functions which you have found homogeneous in prices and income (prove your answer) ? If yes, what is the degree of homogeneity?

1. The number of people who filed claims for unemployment benefits in the last two weeks of March was about 1 million more jobs lost than

a)were lost in the previous two weeks

b)were lost in the previous four weeks

c)the entire number of jobs in the state of Florida

d)were lost in the first two weeks of the Great Recession

2. The source for most of the data reported in the media about confirmed COVID cases and deaths is produced by

a) the World Health Organization

b) Johns Hopkins University

c) the Center for Disease Control

d) The National Institute of Health

3. According to CBO projections, real GDP growth could be ___________ in the second quarter on an annualized basis.

a)-10%

b)2.1%

c)-5%

d)-28%

To raise revenue, a city is planning to impose a $5 tax per ticket for tickets to music concerts held in the city. The mayor is deciding between two ways of implementing the tax policy. The first way is to collect the $5 tax per ticket from the concert performers (the producers of concerts). The second way is to collect the $5 tax per ticket from the concert-goers (the consumers of concerts). An assistant to the mayor says the first way makes producers bear a greater share of the tax burden from this tax policy while the second way makes the consumers bear a greater share, so the mayor should think about whether she cares more about the producers or the consumers in making this decision. Is this advisor’s advice based on sound economic reasoning?

Home’s demand curve for wheat is D = 100-20P. Its supply curve is S = 20 + 20P. Suppose that Home is a small country.

a. Graph the demand and supply curves.

b. In the absence of trade, what would the price of wheat be in Home?

c. The price of wheat in the world market is 1.5. What is the free-trade equilibrium price of wheat in Home?

d. Determine the amount of domestic production, domestic consumption, and imports of wheat in Home under free trade.

How is the coronavirus pandemic affecting the labour market and education plans for Canadian University students? (Students may have lost their ability to support themselves through work or with help from family, there may be foreign students who face travel restrictions, etc., some may be graduating into a market with poor employment prospects while carrying large student loans, etc. List all the possible problem scenarios that you can think of.)

Question 8. There are two types of works: some have a high productivity, aH, and some have low productivity, aL. Workers can get a job after leaving high school or they can 2 go to college at a cost of cH for high productivity workers and cL for low productivity workers. Assume that aH > aL > 0 and cL > cH > 0. Education has no impact on productivity. Describe a separating equilibrium in which employers pay workers a wage equal to the expected productivity conditional on the level of education. What conditions must be satisfied by the parameters aH, aL, cH and cL in order for such as separating equilibrium to exist?

Suppose that assets of the First Bank consist of reserves held in cash and it has enough to meet the reserve requirement; long term loans the First Bank made in the past were to reliable borrowers and should eventually be repaid in the future, and low risk long-term U.S. Government bonds. Is it correct to say that since the First Bank has invested its assets wisely, the bank will be fine if there is a run on all banks and the depositors at the First Bank immediately close their accounts and withdraw cash? Why or why not? What could the Federal Reserve do to help?

The unemployment rate statistic published by the Bureau of Labor Statistics may underestimate the magnitude of the unemployment problem in the economy because

Underemployment includes the following:

Which of the following is NOT a problem in using economic statistics?