Social media has really become a major part of most peoples’ lives. A recent article in the Washington Post claims that teenagers on average spend 6 to 8 hours a day on social media. Adults also spend extensive time on social media as well. One of the major issues involved with the success or failure of social media is how many of a person’s friends are also using the same social media. Facebook is a form of social media that dominates much of the social media landscape. Grandma and grandpa as well as mom and dad are all on Facebook and most people have an account in order to socially interact with others in a common space. Yet there are many people who find the information sharing policies of Facebook distasteful. Others find the interactions on Facebook to be unpleasant and the content pointless.

If so many people dislike Facebook then why is it still such an important social media website? Why don’t more people simply leave if they dislike its services? Why do people continue to use a social media site even when they find the services it provide to be distasteful? What alternatives to social media sites do you think should exist? Why?

. How did the growth of the factory system limit the traditional freedoms of American artisans, and how did they respond? *APUSH*

Covid-19 makes us recognize those people whose jobs are indispensable to the functioning of society, including front-line health-care workers, grocery workers, and delivery workers. Many earn low incomes while bearing the risk of becoming infected to meet other people’s living and medical needs. What new perspective does Covid-19 give you on the different importance of the essential/non-essential jobs to our economy? (You may want to refer to the material on care from Nancy Folbre earlier in the semester.) Feel free to reflect on how Covid-19 may have altered your future career plans.

1) Please give an example of a market that comes close to being considered perfectly competitive.



2) What does it mean when firms in a perfectly competitive market earn $0 in economic profits?



Write at least one paragraph on these questions

Construct a personal strategy for communicating effectively in small group decision making. How do you plan to ensure you use this strategy?

1. What is the difference between Structural unemployment and Frictional Unemployment
2. What is the difference between fiscal policy and monetary policy?
3. List the three components of M1
4. What is Open Market Operation

Here are some hypothetical numbers used to illustrate the ideas of trade-offs, specialization, and comparative advantage. Assume Sri Lanka, using all her resources efficiently, can produce either 2,000 bags of rice OR 6,000 bags of tea. Let's also assume that, using all her resources efficiently, Kenya can produce either 2,000 bags of rice OR 2,000 bags of tea. Further, assume that the countries have similar resource endowments and that, initially, they are not trading with each other. Therefore, each of the countries has to produce both rice and tea for its citizens. Suppose that, in the no-trade situation, Sri Lanka was consuming 800 bags of rice and 3,200 bags of tea, and in the no-trade situation, Kenya was consuming 1,000 bags of rice and 1,000 bags of tea.The trading price is set at one bag of rice for two bags of tea, and Kenya wishes to keep at least 1,100 bags of rice after trade. Determine if there is any benefit (in terms of increased consumption possibilities) for Sri Lanka and Kenya if they trade with each other.

I can't figure out this problem and I don't really know where to start, thank you!

• What were the reasons why Korea’s economy did not develop in the past?
• What challenges did Korea face?
• How could South Korea overcome these challenges?
• What were some of South Korea’s first exports?

What is a product portfolio and do your Recycling, Phone, and Fetometer companies have one? Under what conditions would you eliminate a product from your portfolio? And, describe how you might implement a strategy of "product phasing".

a) Suppose the money supply increases. If the demand for money curve remains the same, show what will happen to prices of goods and the PPM and explain. Use a graph to illustrate. Clearly label your graph.

b) Suppose that at the same time the supply of goods increases, and overall, prices have risen. What has happened? Draw a new PPM graph illustrating your point and explain. Clearly label your graph.

With the aid of a diagram, explain why according to economic theory, in the short run rational firms should only be operating at Stage two of production.

b. Why is it not rational for firms to operate at Stage one or Stage three of production?

c. The impact of COVID-19 has the CEO of a small manufacturing firm worried because of the reduced demand for its product has resulted in reduced production. She has asked you to explain how this will affect the firms fixed, variable, average and marginal costs ( 5 marks) .

Using a graph and in your own words, explain how a change in open market purchases affects money supply and the nominal interest rate.

This is an exercise on moral hazard in credit markets. Assume that a borrower must borrow 100 for an investment. The borrower can choose between a safe project yielding a return of R_s with 100% probability and a risky project yielding a return of R_r with probability p_r and a return of 0 with probability (1-p_r). Assume that the lender cannot observe or control the type of project chosen by the borrower. What are the conditions for the borrower to choose the risky over the safe project under limited liability? What is the minimal level of collateral that will lead the borrower to choose the safe project instead? Alternatively, assume that the borrower has some money of his or her own to invest in the project that costs 100. Assuming that the bank cannot collateralize the loan, what is the maximum amount of the loan such that the borrower will prefer the safe project over the risky project?