1. What other ways have you seen YouTube used as a marketing platform?

2. Do you think certain forms of YouTube marketing (recall your responses to the previous question) are more effective than others?

3. What specific examples of YouTube marketing can you recall?

how pollution fits as a externality?

If people believe that the economy’s output level is about to fall, how may their actions aggravate the problem?

Why will some people suffer more than others from a downturn in economic activity?

What does Adam Smith consider to be the main cause of the wealth of nations? Why does this factor have such a powerful impact on wealth?

2. The Second Fundamental Theorem of Welfare Economics says that any point on the contract curve can be supported by a competitive equilibrium. This question has you illustrate and explain this argument. Start with an Edgeworth box diagram for a two-person, two good economy. In your diagram assume that there is a total of 100 units of food and 100 units of clothing which will be split between two people (Person A and Person B).

(a) Let’s say that the initial endowment is quite unequal giving Person A 90 units of both goods and Person B 10 units of each good. Illustrate this endowment point in the Edgeworth box.

(b) Say that if A and B trade from this endowment point they would trade to an efficient point where A has 95 units of clothing and 86 units of food while B has the remaining units of each good. Add indifference curves to your diagram in (a) to show this situation.

(c) Add a contract curve to your picture (note that it must go through the point Person A and Person B trade to in part (b)). Draw the contract curve so that it just happens to also go through the point where A has 50 of each good and B has 50 of each good.

(d) According to the Second Fundamental Theorem of Welfare Economics a government could use redistribution and markets to attain the outcome on the contract curve where each person gets 50 of each good. Explain how this could be done and illustrate.

QUESTIONS 1-2 test your understanding of the causes and consequences of economic growth.

1. Is population growth good for idea generation? A Yes, population growth is good for idea generation. B No, population growth is bad for idea generation.

2. Are people in the U.S. better off when other countries grow rich? A Yes, people in the U.S. are better off. B No, people in the U.S. are worse off.

According to Smith, what effect does the number of people participating in the economy have on society’s wealth? Why?

c = 100 + 0.8 (y - t)

i = 500 - 50r

g = 400

t = 400

M^d = P(0.2y + 500 – 25r)

Price level is fixed at 1.

The money supply is 520

1. The government increases taxes by one unit.

1. Calculate the shift of the IS curve.
2. What is the change in the level of aggregate demand?
3. What is the change in the interest rate and investment?
4. What is the change in disposable income and consumer expenditure?
   e. What is the change in the government’s budget balance?

Assume an economy with 1000 consumers. Each consumer has income in the current period of 50 units and future income of 60 units and pays a lump-sum tax of 10 in the current period and 20 units in the future period. The market real interest rate is 8%. Of the 1000 consumers, 500 consume 60 units in the future, while 500 consume 20 units in the future.

a) Determine each consumer’s current consumption and current saving

Explain what is meant the term ‘trade deficit’ and how it is ‘automatically’ corrected through economic forces.

1. Suppose the following occurs: (1) There is a decrease in households’ wealth due to a decline in the stock market, (2) and at the same time, the government restricts the amount of cars that car companies can produce by placing an emission tax on each car produced. (3) the shift in the AD curve shifts more than the shift in the AS curve. Based on this information, in the short run equilibrium Price Level will __________ ; the equilibrium real GDP will _________;and the unemployment rate will __________.(Hint: Draw the initial AD and AS curves and then on the same graph draw the new AD and AS curves to derive your final answer).

2. During the Great Recession, real gross domestic product (GDP) decreased and the unemployment rate increased to above-normal levels.Which of following best explains why this happened?

a. A significant decline in military spending following the end of a war led to a recession.

b. A sharp recession followed the United States abandoning the gold standard.

c. A decline in housing prices and stock prices, plus a financial crisis, caused a recession.

d. A sudden increase in oil prices caused inflation and a deep recession.

e. A stock market crash, large numbers of bank failures, an increase in tax rates, and a tight money supply caused a recession.

3. Senator Willie Mays, who retired as a player for the San Francisco Giants, proposes that income tax structure be revised to have two tax rates. The first tax rate, 25 percent, applies to persons whose income is between $0 and $50,000 a year. The second, 10 percent, applies to persons whose income is more than $50,000 a year. This is a

a. regressive income tax structure.

b. proportional income tax structure.

c. progressive income tax structure.

d. cyclical income tax structure

4.Classical economists believe that the economy is stable and tends toward full employment because

           a. the government plays an active role in managing the economy.

           b. savings is a drain on demand and must belimited.

           c. the short run is more important than the long run, and economic policy only works in the short run.

           d. prices are flexible and allow the economy to quickly return to full employment.

           e. prices are sticky and will not prevent the economy from adjusting to full employment.

write an essay on Ecommerce and its impacts on supply chain management

1)

Using the firm's information shown below answer the following questions:

Q= f(K, L) =10KL

w=$25

r=$40

MPk= 10L

MPl= 10K

A)

in the short run if the firm's capital is fixed at 25 units, how much will it cost them to produce q=500

B)

Will the firm do in the long run to minimize the cost of producing q=500

C)

What are the firms cost saving from the short-run is (2 when Q=100, 4 when Q=200 and 10 when Q= 500) to the long run is ( 3.87 when Q=100, 5.47 when Q=200, and 8.6 when Q=500)

1. Briefly explain the political and economic reasons for the revolts against Communism that led to the collapse of the Soviet Bloc.

2. Analyze the two major factors for the population increase in the 20th century.

3. Explain briefly the five major trends of global concern.