Having no internet access can make getting a job and even shopping for a good deal harder. This difference is called the “digital divide”, and is added to the reasons that getting out of poverty is hard. How do you think information technology (internet) has affected social classes? Has it brought the classes closer together, separated them more, or had no effect? Explain how/why.

An auto-service establishment has estimated its monthly cost function as follows:
TC = 6000 + 10 Q
where Q is the number of cars it services each month and TC represents its total cost. The firm is targeting 35,000 net monthly profit servicing 2000 cars.
a. What price should the firm charge in order to realize the targeted profit?
b. What would be its (cost-based) markup ratio?
b2. Now suppose the demand curve the firm faces is: Q = 3000 - 50 P. Is the firm going to achieve its profit goal? Explain.
c. If your answer to (b) is "no", what would be the optimal markup ratio for this firm?

1. Is there necessarily a trade-off between equity and efficiency?

give an example when there is and another one for when there isn't a trade-off

2. Does the rate of income mobility within a person's lifetime matter for how we assess/ measure inequality?

3. Does the rate of intergenerational income mobility matter for how we assess/measure inequality?

Juliette and Andrew regularly go to the movies, where they like to consume popcorn and slushies. At the movies, Juliette’s utility function is given by UJ=√P×S, where P is the number of cups of popcorn, and S is the number of slushies she consumes. Andrew’s utility function is given by UA=P+S.

a. Compute the utility Juliette and Andrew receive from the following combinations of popcorn and slushies:

b. Suppose that Juliette and Andrew are each consuming 2 popcorns and 2 slushies. Who gets the most happiness from her or his movie snacks?

Juliette

It's not possible to say.

Both get equal happiness.

Andrew

c. Suppose that Juliette has consumed 2 popcorns and 3 slushies. What is the approximate marginal utility Juliette will receive if she eats another cup of popcorn?

0.49

0.45

0.61

0.55

What is the approximate marginal utility she will receive if, instead, she drinks another slushie?

0.45

0.38

0.61

0.55

d. When Andrew is consuming 1 popcorn and 1 slushie, another popcorn will increase his utility by 1 unit. When Andrew is consuming 8 popcorns and 1 slushie, another popcorn will again increase his utility by 1 unit.

Which assumption of consumer preferences might Andrew’s particular utility function violate?

Transitivity

For most goods, more is better than less

Completeness and rankability

The more a consumer has of a good, the less one is willing to give up of something else to get more of it

Juliette’s utility function appears to violate the same assumption.

False

True

During a meeting, two analysts are discussing the level of interest rates the economy has experienced recently. One analyst remarks: "We are going through a change in the inflation expectations as we have an inverted yield curve. Surely the investors are expecting lower interest rates and lower inflation in the future." Comment on the analyst's statement, do you agree or disagree, why? Explain.

Please, explain how cultural and demographic factors could affect the country's strategy in the new market (give specific examples):

explain how international trade and intellectual property factors could affect the country's market entry,

explain how currency and foreign exchange issues can affect the company's strategy and performance.

Despite its recent troubles, Boeing is still the United States' only producer of large civilian jet aircraft. Why is that? Using concepts from chapter 5, discuss how this situation came to be. How do competitors fight Boeing? What role does government play in this industry? How have global forces influenced the industry?

Unemployment is an indication of the health of the economy. Unemployment means that there is a portion of the productive population (labor force) that is not producing and unable to earn income for consumption and/or for investment. The more unemployed workers there are, the less output the economy will be able to produce. High unemployment also means that there are less wages available in the hands of people to consume, which reduces the incentive or need for suppliers to produce at full capacity (lower GDP). Moreover, unemployment means that there are more workers available for work in the labor market (high supply) than jobs (demand). Higher unemployment leads to a reduction in the price of labor (wages).

Now let's examine the unemployment in the United Sates.

1. review the following to learn about the relationship between age, race, gender, and unemployment.
   • Discuss the differences in unemployment rates by gender, age, educational attainment, and so forth, and provide possible explanation for the variations in unemployment over time and the variation in unemployment by age, gender, educational attainment, and race.
   • What interests or surprises you?

Purpose: Demonstrate knowledge related to the economic and/or political life of your community through active engagement in a community activity/event.

Question: What benefit and or impact does serving jury duty have on a community?

INTERMEDIATE MACROECONOMICS

1. According to the Solow growth model, what would the impact of increased immigration be on total income (total output)? And on income per capita? Answer this question with the help of a graph and also use a detailed explanation below.

US History

Was the federal government effective in the last 25 years of the 19th century? Show what they did right and what they did wrong. The federal government is the government in Washington -- the President, Senate, House of Representatives, and Supreme Court.

What is the narrow free market perspective on business's responsibility to the environment?  

1. Please state whether each of the following statements is TRUE or FALSE, and then explain your choice briefly.

   Please start your answer by writing either TRUE or FALSE. Answers without that clear statement at the beginning, and with excessively long (more than 2-3 short sentences) explanations will be penalized.

   1. Banks can still influence the money supply if they are required to hold all deposits in reserve.

   2. In the months of November and December, people in the U.S. hold a larger part of their money in the form of currency because they intend to shop and travel for the holidays. As a result, other things the same, the money supply increases.

   3. Bank runs are only a concern under a fractional reserve banking system.

   4. The money multiplier is lower when bankers are more cautious and hold excess reserves.