8.2 Explain the game theoretic formulation of the Hobbesian and Lockean states of nature based on Axelrod’s Evolution of Cooperation. How do the states differ in the possibilities for cooperative behavior in the absence of government? How do these differences affect the social contracts that members of the societies would voluntarily enter? What does game theory tell us about the role of social contracts in promoting cooperation? You do not need to use precise notation, but you should be as verbally precise as possible.

Assume that Tibet and Nepal produce yaks and buffalo. The production possibilities are given below. All production units are in millions. Assume that before the countries specialize and trade, that Tibet is producing at Production Possibilities B and that Nepal is producing at Production Possibilities D. Further assume that they recognize the benefits of free trade and that they decide to trade 1 yaks for 33 buffalo. Determine which country is producing yaks, and which country is producing buffalo. Now, use the blank chart below to calculate the Gains from Trade for each country. The gains from trade are

Describe the role of the reserve army or unemployment according to the Marxian Economics.

Currently the world economy due to the pandemic there is a decrease in demand levels. Discuss to

what extend the capitalist system and the broader social structure needs the unemployment under

these conditions, and to what extent unemployment may be harmful for the society and the

economy. Some countries have adopted policies to combat with unemployment, or with its potential

effects. Discuss how different methods used to combat with unemployment during this pandemic

will affect the economic system.

2.) Explain how/why all (3) phases of “problem definition” are critical to the development of your survey?

b) In several sections of this course, we discussed how market structure impacts results. In particular, we looked at the level of competition (perfect competition and monopoly), and how it impacts the market. In theory, what impact does monopoly have on price, output and efficiency in the market, relative to perfect competition? Use a graph.

-Which of the following is true about general knowledge?

It is not excludable but rival in consumption.

It is both excludable and rival in consumption.

It is neither excludable nor rival in consumption.

It is excludable and not rival in consumption.

-As a result, private firms Would/Would not undertake the efficient amount of basic scientific research.

-Which of the following policies has the United States adopted in response to this problem? Check all that apply.

Subsidizing research through the National Institutes of Health

Taxing revenue from the National Science Foundation

A progressive income tax

It is often argued that this policy increases the technological capability of American producers relative to that of foreign firms.

-True or False: This argument is correct only if the knowledge provided by basic research is not rival in consumption.

Is the monetary policy reaction curve applicable only to central banks that have an explicit inflation target? Explain.

A simplified economy is specified as follows:

A. Goods market, all values C, I, G and NX values are in billions of C$:

Consumption Expenditure: C = 150 + 0.8(Y-T)Investment Expenditure: I = 1,300 - 420iGovernment Expenditure: G = 340Lump-sum Constant Taxes: T = 340Exports: 90Imports: 10

B. Money market, all M^d values are in billions of C$:

Interest Rate: i = 0.09 or 9%Money Demand: M^d = 780 - 1,900i

Note: Please keep your answers accurate to two decimal places.

a) Given the above information, solve for the following: the equilibrium Y, the money supply M, the consumption expenditure C, and the investment expenditure I.

Y = 0M = 0C = 0I = 0

Now suppose there is an impending federal election, and the government promises to use fiscal policies to stimulate the economy.

b) Find the value of the goods market multiplier.

Goods market multiplier = 0

c) Let G rise to 420. Solve for the new equilibrium Y and C.

Y = 0C = 0

d) Demonstrate how the increase in G affects the economy through the multiplier. Use three rounds of effects to demonstrate the multiplier effects. Let the first round be related to health care spending, the second round related to clothing, and the third round related to food.

Round 1 -> As the government wants to spend $1 (or $1 billion)

on health care, it demands the production of health care equipment

such as hospitals, medicine, equipment, etc. to be built and sold to

the government. So as ΔG = 1, the production ΔY =

0

. This Y is the

income to the nurses, doctors, construction workers, etc.

Round 2 -> As the nurses receive their new income of Y =

0

, theyspend

0

% of this $

0

on clothing ->

0

cents worth of clothing wouldbe produced, or ΔY =

0

-> this

0

cents would be the income of the

workers involved in making the clothing.

Round 3 -> As the clothing workers receive their new income of

Y =

0

, they spend

0

% of this

0

cents on food -> (

0

)(

0

) =

0

or

0

cents worth of food would be produced, or ΔY =

0

-> this would

be the new income to the food workers.

e) Now consider monetary policies only. Suppose the BOC wants to drop the i to 0.04 or 4%, with G still at $340. Solve for the new I and the ΔI compared to when i = 0.09. Given the multiplier, how much would you expect Y to rise by?

I = 0Change in I = 0Change in Y = 0

f) Given the changes in (e), find the equilibrium Y, the money supply M, the consumption expenditure C, and the investment expenditure I.

Y = 0M = 0C = 0I = 0

g) Complete the following statement to demonstrate how the drop in i affects the money supply, then I, then Y, then C.

As i decreases -> ΔM (Select One) -> ΔI (Select One) -> ΔY (Select One) -> ΔC (Select One)

1. Please create a meme for how you’re coping with the COVID-19. Discuss one of the following:
   1. An unethical product and which marketing standards were violated. How would you fix it?
   2. Please discuss HR practice in place at your organization. How are they doing in regards to standards for dealing with harm?

1. The information in the table below shows what the situation will be in 2017 if Congress and the President do not use fiscal policy.

(1) If the Congress and the President want to keep real GDP at its potential level in 2017, should they use an expansionary policy or contractionary policy? In your answer, be sure to explain whether Congress and the President should increase or decrease government purchases and taxes.

(2) If the Congress and the President are successful in keeping real GDP at its potential level in 2017, state whether each of the following will be higher, lower, or the same as it would have been if they had taken no action. (Note: you are comparing the variables at the new equilibrium point with the ones at the old equilibrium point in which the policy hasn’t been implemented.)

(a) Real GDP

(b) Potential GDP

(c) The inflation rate

(d) The unemployment rate

Home’s demand curve for wheat is D= 80 – 2P and its supply curve is S= 2P - 20. Foreign’s demand curve for wheat is D*= 80– 4P* and its supply curve is S*= 6P*- 30. You should very carefully draw each demand and supply curve, since your answers below must be reasonably close to correct. A small featureless graph will not be sufficient.

Now suppose Home imposes a quota of 20 on wheat imports. Quota rights are given to the Foreign government to give to its firms.

(c) What is the resulting equilibrium price of wheat in each country?

(d) Carefully graph the changes in consumer surplus, producer surplus, and government revenue in each country due to the quota.

(e) What tariff leads to the same outcome as (d)?

(f) Carefully graph the changes in consumer surplus, producer surplus, and government revenue in each country due to the tariff in (e)?

(g) How can the Home government change the way quota rights are assigned so that the outcome in (e) is the same as (f)?

In August of 2015, the Chinese central bank decided to reduce that nation's required reserve-deposit ratio from 18.5 percent to 18 percent. Assuming no change in the amount of cash held by the Chinese public, that commercial banks lend all their excess reserves, and that bank reserves was a constant 4,329 billion yuan both before and after the change.

a. The value of Chinese banks deposits was billion yuan before this change in the reserve-deposit ratio and billion yuan after the change.

b. Therefore the total change in deposits as a consequence of the change in the reserve-deposit ratio was billion yuan.

c.

An economy is described by the following equations:

The real interest rate, expressed as a decimal, is 0.10 (that is, 10 percent).

a. Find a numerical equation relating planned aggregate expenditure to output.

Instructions: Enter your response for mpc rounded to one decimal place.

PAE = ? + ? Y. ???

b. Using a table (or algebra), solve for short-run equilibrium output.     

Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Leave no cells blank. You must enter 'zero' for the answer to grade correctly.

Short-run equilibrium output: .

c. Show your result graphically using the Keynesian cross diagram.

draw graph

     
Instructions: On the graph below, use the line tool 'Exp.' to draw the expenditure line for levels of income between 9,500 and 10,500. Draw only the endpoints. Then use the point tool 'A' to locate the equilibrium level of income.

Hello

Please write on the differences between Warranties and Conditions. Explain how conditions relate to warranties.

No copy-paste, please