1. What is the opportunity cost of holding cash? To answer the question, you should think of others ways to hold your money other than cash.

2.Most of us occasionally engage in barter. For example, I agree to bake a cake for a neighbor who gives me fresh tomatoes from her garden. If it is common, why isn't it the primary means of exchange?

3. Thinking about the examples of commodity monies , which do you think was the most practical? Why?

Create loanable funds market graphs for each the following (be sure to note what is happening on the x and y axis). You need to create a separate graphical answer,

1. If households start to fear that banks are unsafe.
2. If the government spends more and runs greater deficits.
3. Television newscasters convince most people that the end of the world will occur in 2018.
4. Breakthrough advances in pharmaceuticals increase life expectancy to 100 years.

a. Derive the aggregate supply equation from the sticky price model.

b. Derive the Phillips curve from the aggregate supply equation.

James owns both ski lodges, and therefore all of the skiing, in town. There are no other ways

to ski or ski lodges within 100 miles. Devise a way to segment the skiers in the town

into two markets, high willingness to pay and low willingness to pay, and find a way to

successfully charge them different prices. You need to describe how you will get the high

willingness to pay consumers to reveal their increased willingness to pay. You will also need to

describe how you will prevent consumer arbitrage between the high and low willingness to pay

consumers.

Discuss four protectionist measures. In general, what are the advantages and disadvantages of each measure.

Discuss at least 5 Federal Reserve policy actions. Indicate which direction would be expansionary and which contractionary. Make sure you include open market operations, their most useful tool.

What are the relative advantages and disadvantages of the basic entry strategies that firms have available to them when they enter international markets.

Discuss the state of US shipbuilding.   Where are we compared to other countries?

If society did not want to leave things to the market, how might it decide who got how many masks?

Ed has an idea for making money. He will get broken things on Craigslist that people are giving away for free, and he will fix these things up and then sell them. It does not cost any money for Ed to fix these things. Ed says "this is a way for me to make free money, with no opportunity costs." Is Ed right? Or are there opportunity costs to doing what Ed is planning?

Why might a country want to produce a good itself, even if it does NOT have a comparative advantage in that good?

Draw an Edgeworth Box diagram with an initial endowment. Show the gains from trade relative to this endowment point assuming that each person has normal shaped indifference curves. Show the Pareto Efficient points that are within the region of gains from trade relative to the initial endowment. Make sure that your initial endowment point is not Pareto Efficient.

Suppose that nominal GDP was $9000000.00 in 2005 in Orange County California. In 2015, nominal GDP was $11000000.00 in Orange County California. The price level rose 2.50% between 2005 and 2015, and population growth was 3.25%. Calculate the following figures for Orange County California between 2005 and 2015. Give all answers to two decimals. a

Part 1 Nominal GDP growth was %.

Part 2 . Economic growth was %.

Part 3 Inflation was %.

Part 4 Real GDP growth was %.

Part 5 Per capita GDP growth was %

Part 6 Real per capita GDP growth was %.

1. Explain the factors that the measurement of GDP ignores.

2. Explain the difference between a positive and a negative externality along with an example

States that grade murders by degree generally treat any murder that is not "willful,predetermined, and deliberate" as ________________

1. What happens to market price, quantity, and total surplus when several competing firms in a market merge and become a monopoly?
2. What happens to market price, quantity, and total surplus when a monopolist is broken up into several competing firms?
3. What is price discrimination? Give an example?
4. What three things are necessary for a firm to practice price discrimination?