True or False? The 2017 Tax Cuts and Jobs Act will make it more costly for individuals to properly file their annual income taxes, but will likely increase charitable giving?

What were the social effects of republicanism on groups such as African Americans, Native Americans and women since the American Revolution. Your essay should cover the time period from the 1770s to the 1840s.

What were some of the adverse economic outcomes, for BP and others, arising from the Deepwater Horizon accident and the suspension of all new domestic offshore drilling during the accident investigation? Cite specific examples

I. The government in a certain economy has offered all business significant investment tax credits. Firms as a result invest heavily in new capital equipment and households have taken mortgages to buy new homes.

1. Draw an aggregate-demand/aggregate supply diagram showing the short-run effect of the investment tax credits on the economy. Label the new levels of prices and real output. Explain in words why the aggregate quantity of output supplied changes.
2. Now use the diagram that you have drawn from part (a) to show the new long-run equilibrium of the economy. (Assume here, there’s no change in the long run aggregate-supply curve.) Explain in words why the aggregate quantity of output demanded changes between the short run and the long run.
3. How might the investment boom affect the long-run aggregate supply curve? Explain.

II. Explain whether each of the following events will increase, decrease or have no effect on the long-run aggregate supply.

1. The discovery of iron ore deposits in the United States.
2. Intel invents a new and more powerful computer chip.
3. Congress raises minimum wage to $18.
4. The United States experience a significant decline in immigration.
5. The price of raw material sharply increases.

Bilal’s utility function is U(x1; x2) = x1x2 (assume x1 and x2 are normal goods). The price of good 1 is P1, the price of good 2 is

P2, and his income is $m a day. The price of good 1 suddenly falls.

(a)Represent, using a clearly labelled diagram, the hicks substitution effect, the income effect and the total effect on the

demand of good 1.

(b) On a separate diagram, represent using a clearly labelled diagram, the slutsky substitution effect on the demand of x1

and explain how is it different from the hicks substitution effect.

What is the difference between import-substitution industrialization and export-oriented industrialization, Why did one method seem to work better than the other as a means to help countries develop economically (have economic growth and provide jobs).

Suppose the monopolist has a cost function of TC=2q^2+20Q+40, and faces a market demand of P=300-3Q.

a) In order to maximize profits, how much should the firm produce?

b) What price should the monopolist charge?

c) How much is the consumer surplus in this case?

d) How much is the producer surplus?

A and B live in neighboring apartments with two commodities, money and smoke (from cigarettes). For A, both money and smoke are good, and he is endowed with $eA. For B money is good but smoke is bad. He is endowed with $eB. Smoke is measured on a scale from 0 (none) to 1 (too difficult to breathe). Assume both agents have well-behaved preferences. (a) Use the Edgeworth box with money on the horizontal axis and smoke on the vertical. Where are all the efficient allocations of noise and money? Is the initial allocation efficient? Explain. (b) Assume that B is assigned the property of the smoke pollution, thus he can sell ”the rights to smoke pollution”. Will there be any smoke pollution? If so, how much pollution and what will be the price for this amount of smoke pollution? What important economic proposition just has been verified? (c) Suppose that A has the property rights to smoke pollution but B is unable to make a deal with A due to transaction costs. The landlord proposes a fee for every hour A smokes. Is A going to change his behavior in response to this fee? Explain.

1.You have retired after having a successful career and you have decided to construct a swimming pool in your backyard within the next 12 months.

a.) Complete a project over view for this project.

1. Is there a presence of economic profit for Microsoft (Monopoly)?

Long run-

Short run-

2. Is there a presence of economic profits for Netflix (oligopoly)?

Long run-

short run-

3. Is there a presence of economic profits for Mcdonalds ( Monopolistic Competition)?

Long run-

Short run-  

5. Suppose that the price of gasoline rises sharply. What do you think would happen to the demand for smaller, more efficient cars? For leisure goods (like above ground pools)? For employment in the tourism industry? For goods that are trucked in from out of state? For energy sources other than gasoline? For oil drilling companies? For firewood?

For most business firms that sells a particular good on the market, a decision has to be made from time-to-time to either raise the price of the good, lower the price of the good, or keep the price of the good unchanged. Today, considering what the U.S. is going through (pandemic), what do you anticipate prices to do now and over the next six months for the following items? 1. Gasoline 2.Tomatoes 3. Housing When would you recommend raising the price of the good? Explain why. When would you recommend lowering the price of the good? Explain why. When would you recommend keeping the price of the good unchanged? Explain why

Choose one of the questions below to discuss. (200 word min)

1. What is meant by the term "open economy"? "Closed economy?"

2. What imported goods do you often buy? How would you be affected if the U.S. restricted international trade or stopped trading with other nations entirely?

3. What happens to the trade from either developed or underdeveloped nations when monopoly export and import agencies are set up? Why?

4. What are the differences between common markets, custom unions and free trade agreements? Which of these is the most comprehensive form of trade agreement.

5. What was the basic role of GATT? What is the basic objective of the WTO?

6. What are the major threats to further world trade liberalization?

7. What are the differences between the static vie of comparative advantage and the dynamic view of growth?