1) Is greed the same as self-interest?

2) Agree or disagree with this statement and explain your answer: “the rich get richer and the poor get poorer.”

3) Who did more for the world, Henry Ford or Mother Theresa? Explain.

**Must be at least 4-5 sentences for each question

What is the function of money in the economy? How is it that banks create money? What is the primary method used by the Federal Reserve to increase/decrease the money supply? How does this method work? How does it relate to the Federal Funds Rate?

Why are GDP, CPI and the Unemployment statistics captured by the government? Name one limitation associated with the measurement of each of these statistics.

What are externalities? Why might markets which produce at equilibrium actually over or under produce goods/services? How could the government improve such market outcomes?

How can international trade enhance economic efficiency? How can immigration enhance economic efficiency?

How do changes in market prices relate to scarcity? Why do economists typically not favor price controls?

What is tax incidence? How does it relate to price elasticity of supply/demand? How might understanding tax incidence be important when evaluating public policy proposals?

Why does the quantity theory, or fisher effect, show that increasing the money supply will lead to a higher nominal rate when the liquidity preference model shows that it will lead to a lower nominal interest rate?

A cake baker bakes cake. His short run cost function is C(y) = 100 + 10y - 2y² + y³, where y is the number of cakes

(a) derive and graph his average total cost, average variable cost and marginal cost curves

(b) what is his short run supply curve

HISTORY.

In 200 words answer the following. Why did the anti-Federalists demand a Bill of Rights? What are some of the key protections offered by the Bill of Rights?

1. Money Supply Problem:

Suppose that the required reserve ratio is 11%, currency in circulation is $620 billion, the amount of checkable deposits is $900 billion, and excess reserves are $25 billion.

1. The money supply is $________________
2. The currency deposit ratio is ___________________
3. The excess reserves ratio is ___________________
4. The money multiplier is ____________________

Suppose the central bank conducts an unusual large open market purchase of bonds held by banks of $1485 billion due to a sharp contraction in the economy.  Assuming the ratios you calculated in the previous steps are the same, the money supply should ________________ (increase or decrease) to $_________________ billion.

Suppose the central bank conducts the same open market purchase as previously, except that banks choose to hold all of these proceeds as excess reserves rather than loan them out, due to fear of a financial crisis.

Assuming that currency and deposits remain the same, the new amount of excess reserves is $___________________ billion.

The new excess reserve ratio is ___________

The money multiplier is _________________

The money supply is $___________________

Suppose that a technophile is willing to pay $800.00 now for a new iPhone 11, but is only willing to pay $400.00 if he/she has to to wait a year to buy it. Rest of the general public is willing to $500.00 for a new iPhone 11 whether he/she buys it now or after one year. There are only two time periods and the marginal cost of an iPhone 11 is $250.00. Assume that there are equal number of technophiles and general people. Ignore the time value of money and answer the question as if there is one technophile and one person from the general public.

If the iPhone is priced at $800.00 for today and at $500.00 for sale one year from today, who will buy it?

If the iPhone is priced today at $800.00, how much will be the profit?

If the iPhone is priced at $800.00 for today and at $500.00 for sale one year from today, how much will be the profit?

Navigate to the threaded discussion below and respond to the following: What motivational forces and factors can you see in Motivational Case Study Exercise? What are the aspects of cognition, affect, and behavior that benefit most from a motivational analysis? What are the benefits and significance of motivation?

Use the concept of externalities to explain why if left to private decisions, the usage of face masks to prevent the transmission of COVD-19 is likely to be inefficiently low.