the causes and consequences of that hyperinflation, and then state whether you think what occurred in Germany then could ever happen in the U.S. Support your point of view with cited, credible evidence and carefully considered arguments.
In: Economics
should companies report cybersecurity incidents or not? Is any policy needed around cybersecurity? Why?
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For each of the six business environments, identify at least one potential problem that your business may face. Explain this problem in one or two sentences.
PLEASE MAKE COPY PASTE AVAILABLE
In: Economics
Respond to ONE of the following scenarios. Identify and discuss the relevant legal issues and discuss them fully. Specifically state what you think the outcome will be and why. In Questions #1, be sure to include the applicable general rule(s) as well as any exceptions and whether they apply.
1. Jim Bowie owns a lot in Starr County and wants to build a house according to a certain set of plans and specifications. He solicits bids from three building contractors as follows: George Kimbell bids $ 175,000; Green Jameson bids $170,000; and, Davy Crockett bids $ 166,000. Bowie accepts Crockett’s bid and construction begins. A month into the work, Crockett advises Bowie that due to an unexpected rise in fuel and materials costs, he will need $ 15,000 more to complete the project. Bowie raises a fuss, but after discussing the situation with the out-bid contractors who indicate that they cannot finish the contract for less, he agrees. When the house is finished, he refuses to pay the extra money. Discuss whether Bowie is legally required to pay the additional amount.
In: Economics
In: Economics
Post a brief summary on the effects of globalization on health in Russia. Discuss one change in quality of life in post-transition Russia. Also, explain one change in mortality in post-transition Russia. Provide examples for both.
In: Economics
Explain each of the situation as to why they may or may not
invalidate the Ricardian Equivalence proposition
a) There is an election for a new government every 3 years, and
there are no rules requiring the government budget has to be
balanced.
b) Individuals can borrow at an interest that is twice as high as
the rate for bank deposits.
c) The country has a system whereby everybody will get exactly the
same wage.
d) Individuals cannot save or lend, they have to consume every
dollar of their after-tax income.
In: Economics
Write a two-page paper mentioning some opportunity costs of stricter government safety regulations to improve drug safety, and explain why the concept of opportunity cost is helpful for evaluating whether or not stricter safety regulations are in the public interest. Please be clear and concise about what you are trying to explain that relates to the above question.
In: Economics
The following data pertain to products A and B, both of which
are purchased by Susan. A is on vertical axis and B is on
horizontal axis. Initially, the prices of the products and
quantities consumed are:
PA= $8, QA= 5, PB= $6, QB= 10.
Susan has $100 to spend per time period. After an increase in price
of B, the prices and quantities consumed are:
PA= $8, QA= 4, PB = $9, QB= 7.5.
Assume that Susan maximizes utility under both price conditions
above. Also, note that if after the price increase enough income
were given back to Susan to put her back on the original
indifference curve, she would consume this combination of A and
B:
QA= 10,QB= 4
a. Determine the change in consumption rate of good B due to (1)
the substitution effect and (2) the income effect.
b. Determine if product B is a normal, inferior, or Giffengood.
Explain.
In: Economics
Suppose that you have the following production function: ? = (100?^1/3)*(?^2/3) Where k represents the units of capital employed at production, L is the number of labor hours employed for total production. The wage rate equals to $18 per hour. The cost of capital equals $2,000 per unit.
a) What are the returns of scale for this production function? Prove it
b) You are currently employing 100 hours of labor. Calculate your total costs, average cost and marginal costs of labor and capital if K=100 units.
c) Which input is more productive? Should you employ more labor or more capital?
d) Draw the production function, MPK and MPL for the different values of K and L.
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Consider and discuss how technology, population growth, and arising trends can impact various professions. Discuss how law enforcement may change as globalization continues.
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US-China Trade War:
- What is the future prospects/issue?
- Briefly outline your view(s) on this international issue.
In: Economics
1- How does the demand curve show the marginal benefit received by consumers?
2- How does a supply curve show the marginal cost to producers?
3- What is a perfectly competitive market?
4- What can eliminate a shortage?
5-What can reduce a surplus?
In: Economics
5. Opportunity cost and production possibilities
Eric is a skilled toy maker who is able to produce both cars and drums. He has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of his time.
|
Choice |
Hours Producing |
Produced |
||
|---|---|---|---|---|
|
(Cars) |
(Drums) |
(Cars) |
(Drums) |
|
| A | 8 | 0 | 4 | 0 |
| B | 6 | 2 | 3 | 10 |
| C | 4 | 4 | 2 | 16 |
| D | 2 | 6 | 1 | 19 |
| E | 0 | 8 | 0 | 20 |
On the following graph, use the blue points (circle symbol) to plot Eric's initial production possibilities frontier (PPF).
Initial PPFNew PPF012345678302520151050DRUMSCARS
Suppose Eric is currently using combination D, producing one car per day. His opportunity cost of producing a second car per day is per day.
Now, suppose Eric is currently using combination C, producing two cars per day. His opportunity cost of producing a third car per day is per day.
From the previous analysis, you can determine that as Eric increases his production of cars, his opportunity cost of producing one more car .
Suppose Eric buys a new tool that enables him to produce twice as many cars per hour as before, but it doesn't affect his ability to produce drums. Use the green points (triangle symbol) to plot his new PPF on the previous graph.
Because he can now make more cars per hour, Eric's opportunity cost of producing drums is it was previously.
In: Economics
Using the Internet or your school library research the challenges associated with eCommerce payments that cross international borders.
In: Economics