Think about someone that you admire. What are some of their personal ethics? Where do you think they developed those? How could those be applied in the workplace?

Why does college education keep getting more expensive? If you were in a position to make a change what would you recommend to change the tuition challenge?

Why would consumer spending be affected by mortgage rates? Isn’t housing considered an investment item, not a consumption item?

Consider the following Ricardian Model with 2 economies:

(d) Show graphically that Germany gains from trade. Carefully label your graph.

(e) Which country has higher wages? What determines the real wage at the national level? Explain.

(f) Calculate real wages in France in autarky and free trade? How do real wages change in France after opening to free trade? (Hint: Assume a international relative price of wine that makes sense in this model)

1. You have just been elected president of the United States, and the present Chair of the Federal Reserve Board has resigned. You need to appoint a new person to this position, as well as a person to chair your Council of Economic Advisers. Using your knowledge of macroeconomics, identify the personal characteristics and the views on macro theory and policy you would want your appointees to have and implement.   Remember, the economic health of the entire nation and solution to keeping the economy growing will be impacted by this decision.

2. As you know, during the Great Recession, the Fed proposed a number of "bail out" measures to address the “great recession”. Indicate why or why not you would recommend that your new appointee use similar measures if this situation arises again. Should the Fed have a bond-buying program? Identify any new policies that you would like your candidate to follow.

Please Outline the historical context in which dependency school theories emerged and assess their contribution to the subject area of Development Economics.

Long answer is required

Calculate the price elasticity of demand for each price change. Note, you will begin with the change in price from $2.25 to $3.25.

Assume a merchant was thinking of decreasing the price from $4.25 to $3.25. Based on your calculations, is the price decrease a good idea for the merchant? Please explain why.

How much would consumers respond to a price increase from $2.25 to $3.25. What is the effect on the merchant?

Suppose that the Earned Income Tax Credit is set up so that a maximum payment of $3,000 can be earned when a qualified worker earns $10,000. This payment represents a subsidy of 30 cents for each additional dollar earned up to $10,000.

Workers earning between $10,000 and $14,000 are eligible for the maximum payment. Once labor market earnings exceed $14,000, additional earnings reduce the subsidy by 45 cents for each dollar earned.

The going wage rate is $10 per hour.

Will a person working between working less than 1000 hours in the labor market experience an income effect, a substitution effect, or both as a result of the EITC?

What is the relationship between political economy and economic progress? This question has been the subject of a vigorous debate among academics and policymakers for some time.

APA Format/ 1 to 2 pages response, double space

Class,

Three important topics of interest to economists are:

*employment.

*prices.

*output.

Develop one microeconomic statement and one macroeconomic statement dealing with each of the three topics just listed. Post your statements and discuss them and the statements posted by your classmates.

Firm Alpha can leave its windows uncovered or pay to install shutters on its windows. Whether the shutters are installed has an effect on Firm Beta’s profit, as illustrated in the table 1. 2. 3. 4. 5. below. Does the shutter installation create a positive or a negative externality? Explain. Is it efficient for the shutters to be installed? Explain. Suppose that Firm Alpha has the property rights. What will happen if the firms negotiate? Suppose that Firm Beta has the property rights. What will happen if the firms nego- tiate? Relate your answers above to the Coase Theorem.

where did the recent military crisis happened and what was its affect on business sector?

Consider the following: Suppose that two neighbours with identical nonhomothetic preferences derive utility from the number of flower gardens in their shared community lot, x, and on the number of tomatoes that they eat from their own vegetable gardens, y. The specific form of the utility function is given by: U_i(x,y_i )=x+lny

The price of one flower garden is $1 and the price of a vegetable garden is $2. Each neighbour has a budget of $12.

a) If each neighbour lived in a community that did not have a shared community lot (i.e. had to individually purchase and own both flower and vegetable gardens), what portion of their income would they spend on flower and vegetable gardens, respectively?

b) What utility would they each receive from the allocation in a) above?

c) What is the marginal rate of substitution (MRS) for this utility function? Interpret the meaning of the MRS. Is MRS diminishing?

d) Now, assume the neighbours do, in fact, live in the shared community such that both share and enjoy the number of flower gardens that are available. If neighbour #1 assumes that neighbour #2 will not pay for any flower garden, what will be each neighbour’s utility if neighbour #1 buys the least whole number of flower garden(s) such that he derives utility from the flower garden(s)? Allow for fractions of vegetable gardens.

e) Show that the allocations described in d) are inefficient.

f) Calculate the efficient level of flower garden purchases and that of vegetable gardens.

g) Assume that the neighbour’s split (i.e. 50/50) the cost of efficient number of flower gardens obtained in f) and use the remaining funds to purchase vegetable gardens. Can the neighbours derive any utility from vegetable gardens given nonhomothetic preferences? What utility will each neighbour receive, and is this a Pareto superior solution than your answer in b)? Explain why or why not.

Is it possible to provide health care without rationing? In 1948 every household in Britain received a leaflet stating that the new National Health Service would "provide you with all medical, dental and nursing care. Everyone - rich or poor, man, woman, or child - can use it or any part of it. There are no charges, except for a few special items."

a) This pioneering system of health care provision, which celebrated its 60th anniversary in 1998, was based on the assumption that the quantity of health care that would be demanded at a zero price is finite. The quantity demanded nevertheless overwhelms the quantity supplied at the zero price in Britain and all the countries that subsequently initiated similar systems and found themselves confronted by shortages of health care services. How would a shortage show itself in such a situation?

b) If health care is made available to everyone at a zero money price, and at this price the quantity demanded exceeds the quantity supplied, how will health care be rationed?

c) What system of rationing would you recommend?

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