Step One: Launch the data generator to get started (or use the numbers given below). Complete the data table before continuing to step two.   Go to the lesson and generate your data. Click on Generate My Data, then click on text version. Highlight the numbers, right click, and hit copy. Paste the data into […]

In this Discussion, you will examine your purchases of a product or service and consider the extent to which price changes have a minor or significant effect on the quantity you purchase.   Post a word (1- to 2-paragraph) explanation of the factors that influence your decision about how much of your selected product or […]

Ethical dilemma that has to do with international economic activities. You have a very wide latitude to choose something that interests you.   Some examples:   Should Nike or any other company make products in low wage countries ?   Should a country use tariffs to protect certain workers?   Should countries trade with companies […]

Discuss the following statement from Principles of Economics: “Because the environment is fragile and natural resources are finite, ultimately economic growth must come to an end.”   Explain why, in any period, a country’s net capital inflows equal its trade deficit? Include examples.

1. What determines the amount of output an economy produces?   5. What determines consumption and investment?   7. What makes the demand for the economy’s output of goods and services equal the supply?   8. Explain what happens to consumption, investment, and the interest rate when the government increases taxes.   Problems and Applications […]

1.There are three approaches of estimating QALYs. There is no right answer to this question. Simply state your preferences. Assume that a person does not have a leg but is perfectly healthy otherwise.   Use visual analogue scale. If it were you, how would you rank your health between 0 and 1 with 0 being […]

The stock of Business Adventures sells for $40 a share. It is likely dividend payout and end-of-year price depend on the state of the economy by the end of the year as follows:    Economy Outcome Boom Normal Growth Recession Probability 10% 30% 60% Stock Price $55 $40 $35 Dividend $2 $1 $0   Section […]

What role do incentives play in understanding economic decisions? Provide an example to make your point. Assume you are the owner of a donut shop that is about to have its grand opening. Your total investment so far has been $50,000. Then you read in the Tribune a special health report that donuts are linked […]

The Fed Chairman announces in a press conference that he will fight the higher inflation rate with a new anti-inflation program. Predict what will happen to interest rates if the public believes him. Why are expectations so important to the role of interest rates?

Research seems to suggest that as liberal economic policies begin to dominate the international arena it is the elite that seem to benefit while the working class is witnessing an increase in poverty. In other words, Washington Consensus seems to be increasing the gap between the rich and poor not just between the developed and […]