Economic Issues Confronting Our Economy. What are the fundamental economic issues confronting our economy? Please provide examples

What is Phillip Curve? How to derive from AS - AD model? In what circumstances, PC will move right or left? What are the different views of Phillips Curve between classical economic and Keynesian economics? Why ?

What is elasticity? What is price elasticity of demand? What is price elasticity of supply?

The price of the typical MP3 player (such as the iPod) has been going down in the past 10 years. What could explain this consistent drop in the price of MP3 players? Use the model for the long-run competitive firm to illustrate your answer (hint: you need two diagrams here: one showing the LAC for the typical firm, and another showing the long -run supply curve for the industry.)

Mark runs a small boat factory. He can make ten boats per year and sell them each at 50,000 each. It cost Mark 275,000 for the raw materials to build the ten boats. Mark has invested 500,000 dollars in the boat factory building. (200,000 from saving and 300,000 from small business loans at an annual rate of 5 percent=he just refinanced his business loan). Mark can work at a competing factory working on boats for an annual salary of 80,000 per year.

10a. What is the total revenue Mark can earn in year 1?

10b. What is the value of Mark's accounting profit and Joe's economic profit?

10c. Is it truly profitable for Mark to operate his boat factory? Explain.

9a. Name three ways in which the Antitrust laws make markets behave more competitively.

9b. What is the difference between Section 1 and Section 2 of the Sherman Antitrust Act, discuss and define?

9c. Explain what the Herfindahl- Hirschman index is, and how it is used by the Department of Justice to decide which mergers to challenge.

Ed's utility from vacations (V) and meals (M) is given by the function U(V,M) = V²M. Last year, the price of vacations was $200 and the price of meals was $50. This year, the price of meals rose to $75, the price of vacations remained the same. Both years, Ed had an income of $1,500. Include a budget line and indifference curve diagram in your response to this question.

1. What is Ed’s optimal consumption of vacations and meals before and after the price change?
2. Calculate the substitution and income effects arising from the change in meal price. Are meals a normal good, and inferior good, or neither? Explain.

1. The subject line for a request for a job offer time extension should​ _____.

A. include the job title and​ sender's name  

B. include the​ sender's name

C. be an​ attention-getter

D. simply be​ "Request for Time​ Extension"

2. The opening of a request for a time extension should​ _____.

A. be​ attention-getting  

B. come right out and request the extension  

C. express a strong statement of interest in the job  

D. follow the AIDA plan 

3. When requesting a time​ extension, your emphasis should be on​ _____.

A. getting the company to make a better offer  

B. showing your professionalism

C. the attractiveness of a competing company

D. accommodating your needs

4. One purpose of a time extension request should be to​ _____.

A. reassure that reader that you are interested in the company and the job

B. let the reader know that you have another potential job offer

C. let the reader know you are in demand

D. try to get a better offer

5. A time extension request should close with​ _____.

A. an expression of willingness to yield or compromise

B. a salutation

C. a demand for a response  

D. a call for action

Three strategies can Firm use to minimize the risks of fluctuating exchange rates. Use examples.

(broad question)

Consider the following statement "we should continue allowing arguments that justify government intervention in trade under the WTO". Do you agree or disagree with this statement? In your answer use examples where appropriate.

Discuss the causes and consequences of global warming and climate change. Compare carbon taxes versus emissions trading for greenhouse gases reduction policy. Illustrate how global problems present more complex management issues

Describe the conceptual issues associated with externalities in both space and time. Discuss policy options for the control of regional pollutants such as acid rain. Analyze the level of economic efficiency of each option.

no reference

According to Cunningham (2011: 28-29), there are serious consequences for market failure by a nation, and particularly in a small and endowed country like Sierra Leone. Discuss 5 of those consequences that can arise due to market failure.                                                            

You are the chair of an IMF task force. Your job is to reevaluate the policy of bailing out national governments that suffer major losses in the private sector in the name of protecting the value of the currency. Taxpayers in industrial countries typically foot the bill for IMF activities, with loans typically running into the many billions of dollars. Some critics call this system a kind of “remnant socialism” that rescues financial institutions and investors from their own mistakes with taxpayer money. Financial crises often originate as private-sector affairs, but then central banks step in and pledge foreign exchange reserves to shore up the currency.

1. Do you agree with the belief that the current system privatizes profits and then socializes losses if the government steps in with a bailout?
2. What sort of alternative can you envision to replace the current system, which often involves an IMF bailout?