• Why did people want to move to the United States?
• How did the industrialization of the US help establish itself as a world power?
• How did the Industrialization of the US help change the class structure in the country?
• What advancements did it have in technology and labor?

a. What is market equilibrium? Does the market always reach equilibrium? Explain

b. If there is surplus of houses in the market, then the price of houses will rise. True or false. Explain and offer an example.

How to measure economic development for growth and income

Okun’s Law is written as u – u(-1) = -0.4 (g_Y – 3%)

a. What is the sign of u – u(-1) in a recession? What is the sign of u – u(-1) in a recovery?

b. Explain where the 3% number comes from?

c. Explain why the coefficient on the term (g_Y – 3%) is -0.4 and not -1.

d. Suppose the number of immigrants per year allowed to enter the United States is sharply increased. How would Okun’s law change?

2. Use the IS-LM-PC model to illustrate how the economy adjusts to an increase in taxes both in the short run and in the medium run.

3. Explain why in the medium run an increase in the price of oil will cause an increase in the unemployment rate.

4. If the economy is initially operating at the natural level of output why an increase in the price of oil will cause an increase in the aggregate price level.

5. Explain why during the short run, an increase in the price of oil will cause an increase in the interest rate.

Over the past decade, many American candy companies, including Hershey Company, Brach’s Confections, and Ferrara Pan Candy, opened factories in Mexico and Canada to produce candy that is then shipped back to the United States for sale. Although lower wages in Mexico might explain part of this move, wages in Canada are comparable to U.S. wages.

Explain how U.S. price supports (price floors) for the sugar industry may have encouraged these moves.

The sugar industry is the longest protected in U.S. history. Many economists and industry experts argue that these protectionist policies hurt consumers and are no longer needed.

Do you agree? Why or why not? Use the concepts of supply and demand, and consumer and producer surplus to support your answer.

Explain why the U.S. sugar industry have experienced such long protectionist policies such as import quotas and subsidies?

What other countries might be likely candidates for adopting federal systems in the future? Why do you think these countries are particularly good candidates?

1. Using a dataset, the following equation was estimated:

   sat_hat = 1,028.10 + 21.30hsize - 5.19hsize^2 - 40.09female - 150.81black + 50.31 female x black

                         (6.29)    (3.83)    (.53)    (4.29)   (12.71)          (18.15)

   The variable sat is the combined SAT score; hsize is size of the student’s high school graduating class, in hundreds; female is a gender dummy variable; and black is a race dummy variable equal to one for blacks, and zero otherwise. What is the estimated difference in SAT score between black females and nonblack females?

   		100.5
   		120.2
   		140.6
   		160.3

1) which of the following doesn't come under conditions for considering direct exporting as a market entry strategy

a) company goals

b) size of company

c) resources

d) product or service

e) mission statement

2) some common market entry strategies for service firms depend on:

a) licensing agreement, franchise, agencies, and distributor

b) franchise, distributors, joint venture, and agent

c) the use of direct or indirect exports

d) all of the above

3) Research of an international market for a product is different from research undertaken for a service. which of the following, however, is common to both?

a) logistics and distribution

b) marking and labeling requirement

c) customer needs

d) the supply chain

4) which of the following falls under typical consumers level market forces for market research

a) income levels and occupation

b) age and education

c) sex and languages

d) all of the above

(Calculate with Excel only) Consider Carl, a 26-year-old San Diegan who has just graduated from SDSU with a B.A. in Economics. He has received two job offers, one in San Diego that pays him $40,000/year and another in Miami, Florida that will pay him $44,000/year. He is planning on working in the position, regardless of the location, until he finishes his 20th year of work. His added monetary costs in Miami will be $2,500 each year and he expects psychic costs totaling $5,000 each year for the first 5 years only. He can borrow/save at a rate of 6%. Using the information provided and assuming all costs and benefits are incurred/accrued at the end of each year determine the following: Calculate the net present value of his migration. Calculate the internal rate of return of his migration (round answer to a whole percent). Based on the NPV and IRR, should he migrate? Why? please show excel formula

1. What are the main macroeconomic and managerial factors that make the German market attractive to private investors? Please use theoretical concepts, key indicators

• What role do financial markets and institutions play in U.S economic growth? Identify the types of financial intermediaries in the US economy and the primary assets of these intermediaries. In your own personal and retirement savings which financial intermediaries do you use? What assets do you use to save?
• In module 3 you researched the expected inflation rate, discuss how the expected future inflation rate will affect the market of loanable funds.

1. 22 smokers were surveyed and they sleep an average of 7.3 hours per day. Suppose that the general public need an average of 7.5 hours of sleep each day and with a standard deviation of 0.5.

   (a) Test the hypothesis that there is statistically significant difference in sleep time between the smokers and general public at the 5% significance level. (b) Test the hypothesis that smokers need less sleep time than the general public at the 5% significance level. (Hint: For parts (a) and (b), you need to conduct single sample t tests. Please write down clearly the null and alternative hypotheses, carry out the tests and conclude.) (c.) Suppose now you want to do the same test in part (a) at the 10% significance level instead of 5% level. Would your conclusion in part (a) change?

Should the State of Illinois broaden the sales tax to cover services like auto repairs, accounting/legal services, haircuts and nail salon services, etc. What is the tax policy justification for such expansion? Please couch your answer based on tax policy principles.

Pick one contemporary trade theory (PRODUCT LIFE CYCLE THEORY, STRATEGIC TRADE THEORY, or DIAMOND THEORY – NATIONAL THEORY OF COMPETITIVE ADVANTAGE), define the theory. Tell me one industry that fits into this theory and why.  What is the difference between comparative advantage and absolute advantage?

The public choice model raises important questions about the effect of government regulation on economic efficiency. Can we conclude that the Congress should abolish agencies such as the Food and Drug Administration (FDA), the Environmental Protection Agency (EPA), and the Federal Trade Commission (FTC)?

What are the pros and cons of abolishing these agencies?