How do crypto-currencies work and why are governments so desperate to get control of them? (Choose just one or two crypto-currencies to study. Don’t try to deal with them all. there are too many!) write 1200 words based on academically acceptable reference sources.

How does the Federal Reserve manipulate the interest rate? Describe the process step by step. List out your steps 1. 2. 3. Etc…

Discuss the dangers of inflation; that is, why may it hurt an economy?

If the government wants to follow an active stabilization policy when the economy is experiencing an excessively high rate of inflation then the government should increase the money supply and decrease taxes.           

Select one:

True

False

If the Fed conducts open-market purchases, the money supply increases, interest rates decrease and aggregate demand shifts to the left.

Select one:

True

False

According to supply-side economists, a reduction in the tax rate provides an incentive for people to work more and the increased work effort causes production to increase.

Select one:

True

False

If the Fed targets the interest rate, then it must buy bonds and increase the money supply if the actual interest rate is below its target interest rate.

Select one:

True

False

Open market operations by the Fed are automatic stabilizers because the FOMC automatically responds to inflationary pressures in the economy by decreasing the money supply.

Select one:

True

False

Assume that the MPC is 0.8. Assume that the total crowding-out effect is $25 billion. How will an increase in government purchases of $9 billion shift the AD curve?

Monopoly is the least competitive of the market structures. Patents are a major source contributing to the development of monopolies; explain why that might be a good thing. In general, what makes this market structure "bad" from a public policy perspective (the key is how price relates to marginal cost)? What does it mean to say that a monopolist is a "price maker" and explain the process a monopolist goes through to maximize profits.

28

Drawing on Andrew Eschtruth’s lectures, which of the following is true about prospects for Americans’ retirement

Select one:

a. In 2020, Social Security benefit costs will exceed Social Security’s tax revenues and Trust Fund income; that will be the end of Social Security.

b. In 2020, Social Security benefit costs will exceed Social Security’s tax revenues and Trust Fund income; that will statutorily require an increase in the Social Security tax.

c. Over the past generation, Americans have shifted sharply from Defined Benefit Plans to Defined Contribution Plans.  

d. Over the past generation, Americans have shifted sharply from Defined Contribution Plans to Defined Benefit Plans.

The growth and quality of televised sport is a key issue for the majority of professional sport leagues and to a lesser extent college (i.e., football/basketball). Researchers refer to a ‘substitution effect’ and numerous factors that increase the ‘substitution effect’. Please explain what researchers refer to as the ‘substitution effect’ and discuss what factors may influence this effect and how the factors may influence this effect.

Consider the following weekly cost function:

TC = 200 + 120Q - 6Q^2 + 0.2Q^3

a. What are the total fixed costs per week associated with this technology?
a.) 60
b.)120
c.)200
d.) Zero. This is a long-run function

b. What is the number of units of output per week (Qs) that occurs at the end of Stage I
a.) 6
2.) 15
3.) 9
4.) 12

How would each of the following affect the marginal cost function of a bakery (SHIFT UP, SHIFT DOWN or NO EFFECT)

a. An increase in the monthly rent
b. An increase in the minimum wage of bakers
c. A property tax reduction
d. A decrease in the price of flour
e. An increase in the annual insurance premium

"we should continue to strive for the goal of ‘perfect rationality’ and achieving ‘conflict resolutions that meet the needs of parties’ despite the fact that it is considered unattainable or unrealistic." do you agree or disagree? why?

(History of Economic Thought) Questions

1-) What wre the factors that contributed to the decline of the feudal system?

2-) What were the two phases of mercantilism? Give dates for these phases. What was the focus of the economists in these phases?

3-) What are the three classes that we see in the Tableau? Define and explain each briefly.

4-) According to Adam Smith, does the amount of direct and inirect labor used up in the production of a commodity determine the Exchange value of that commodity in all social formation? If not, in which social formations would be direct and indirect labor used up in the production of a commodity would determine its Exchange value?

5-) What is the difference between the ‘market price’ and the ‘natural price’?

1. At the end of the year, a company offered to buy 4,510 units of a product from X Company for $12.00 each instead of the company's regular price of $17.00 each. The following income statement is for the 62,400 units of the product that X Company has already made and sold to its regular customers:

Sales $1,060,800

Cost of goods sold 504,192

Gross margin $556,608

Selling and administrative costs 156,000

Profit $400,608

For the year, fixed cost of goods sold were $122,304, and fixed selling and administrative costs were $78,000. The special order product has some unique features that will require additional material costs of $0.71 per unit and the rental of special equipment for $2,500. Profit on the special order would be?

2. The marketing manager thinks that if X Company accepts the special order, regular customers will be lost unless the selling price for them is reduced by $0.16. The effect of reducing the selling price will be to decrease firm profits by