In what ways is the EU a unique RTA? What are some of the problems confronting the EU today?

This project develops skills in searching online Web-enabled databases with information about products and services in faraway locations.

Your company is located in Greensboro, North Carolina, USA, and manufactures office furniture of various types. You are considering opening facility to manufacture and sell your products on Australia. You would like to contact organizations that offer many services necessary for you to open your Australian office and manufacturing facility, including lawyers, accountants, import-export experts, and telecommunication equipment and support firm.

Access the following online databases to locate companies that you would like to meet with during the upcoming trip:

·       Australian Business Register (abr.gov.au)

·       Nationwide Business Directory of Australia (www.nationwide.com.au)

You can search using search engines as well.

Do the following

List TWO companies from each of the category that you would contact on your trip to determine whether they can help you with these and any other functions you think vital to establishing your office.

Format of Details

·       Name of company

·       Address

·       Telephone No

·       Website (if available)

16. In pure competition, price is determined where the market

A. Demand and supply curves intersect

B. Total cost is less than total revenue.

C. Average total cost equals total variable cost.

D. Demand intersects the individual firm's marginal cost curve.

20.  Long-run competitive equilibrium

A. Is realized only in constant-cost industries.

B. Is not economically efficient

C. Will never change once it is realized

D. Results in zero economic profit.

21. Marginal product is

A. The change in total revenue attributable to the employment of one more worker.

B. The change in total output attributable to the employment of one more worker.

C. Total product divided by the number of workers employed.

D. The change in total cost attributable to the employment of one more worker

24. Oligopoly is more difficult to analyze than other market models because

A. of mutual interdependence and the fact that oligopoly outcomes are less certain than in other market models

B. The marginal cost and marginal revenue curves of an oligopolist play no part in the determination of equilibrium price and quantity.

C. unlike the firms of other market models, it cannot be assumed that oligopolists are profit maximizers.

D. the number of firms is so large that market behavior cannot be accurately predicted.

30. The demand curve confronted by the individual, purely competitive firm is

A. Perfectly inelastic

B. Relatively elastic, that is, the elasticity coefficient is greater than unity

C. Relatively inelastic, that is, the elasticity coefficient is less than unity.

D. Perfectly elastic.

35. The short run is characterized by

A. Zero fixed costs.

B. Plenty of time for firms to either enter or leave the industry.

C. Fixed plant capacity.

D. Increasing but not diminishing returns.

Government has increased expenditures to address the Covid Virus situation. It will be interesting to examine the data later to see how fast government expenditure increases for 2020. To answer this question, describe how fast government spending normally grows (say on average 1929 to present) on a per capita basis in real terms. Compare this to the growth rate of real per capita GDP, and comment on whether government is growing faster than the economy or slower.

The following table shows​ Madison's utility from consuming popcorn and Coke. Suppose that Madison has income of ​$10.50​,

the price of popcorn is ​$3.00, and the price of Coke is ​$2.25.

If Madison wants to maximize her​ utility, how much popcorn and Coke should she​ buy?

Madison should buy (blank) boxes of popcorn and (blank) cans of Coke. ​(Enter your responses as​ integers.)

Enter your answer in each of the answer boxes.

Suppose in Fiscalville there is a 5 percent tax on the first $10,000 of income, but a 15 percent tax on earnings between $10,000 and $20,000 and a 25 percent tax on income between $20,000 and $30,000. Any income above $30,000 is taxed at 35 percent. Instructions: Round your answers to the nearest whole number. a. If your income is $60,000, how much will you pay in taxes? b. Determine your marginal tax rate. c. Determine your average tax rate. d. Is this a progressive tax?

The banking system of the United States is a fractional reserve system. What dangers does this pose for the safety of the banking system?

can you answer this in a well explained paragraph thank you.

What would be the financial challenges of opening a small business i.e. bakery/coffee shop?

2

2. Market structures

For each of the following scenarios, identify the number of firms present, the type of product, and the appropriate market model. Select the matching entry for each dropdown box in the following table.

What do Marx and Mill want people to be free from? What did each thinker think that freedom was for?

“In economics, moral hazard occurs when an individual has an incentive to increase their exposure to risk because they do not bear the full costs of that risk. For example, when a person is insured, they may take on higher risk knowing that their insurance will pay the associated costs.”

One of the topics of chapter 10 is market power and concentration. In the current economic crisis, many large firms will receive governments “bailouts.” What is your opinion of the possibility that government “bailouts” will only increase moral hazard of large firms that are “too big to fail.”

As the U.S. economy underwent a historic shutdown due to the pandemic, the Federal Reserve was uncharacteristically bold and swift in pushing out initiatives, facilities, and decisions that have monumental and unusual impacts on the economy, many of these actions go beyond the usual mandate of monetary policy. Please do a little research (including going to the Fed's website) and itemize these actions, along with a brief statement of what each of them does; then add a statement about what you think could be any downside of these actions.

Note: Answer has to be in 250-300 words. please do not copy and paste. try to write in your own words.

Is there really a problem that needs to be addressed regarding the imbalance between wealthy business interests and less-wealthy interests? Can one address this issue without bringing in issues of free speech and individual liberty?

In April 2019, the U.S. unemployment rate fell to 3.6 percent, its lowest level in almost 50 years. In Texas, the unemployment rate was 3.4 percent in June 2019, its lowest level since individual state data began being kept in 1976. Unemployment rates this low are often viewed as being very good for the economy, so explain how low unemployment rates benefit the economy in terms of the following:

• productivity and GDP growth
• wages and wage growth
• consumer confidence
• labor supply & demand
• entitlement spending (make sure you understand the term “entitlement spending”)

Unemployment rates this low can also be viewed as being detrimental to the economy, so explain how low unemployment rates may also damage the economy in terms of the following:

• productivity and GDP growth
• employee loyalty
• potential inflation
• labor supply & demand

Assuming diminishing marginal product of additional workers and diminishing marginal product of additional hours-per-worker, how would a profit-maximizing firm adjust its mix of workers (L) and hours-per-worker (H) in response to: (a) A new user-friendly computer system that reduces training time required by one-half? (b) New legislation requiring full-time workers to receive employer-sponsored health insurance?