ALL ANSWERS WERE MARKED BOLD.
Production Possibilities and Opportunity Costs: Linear Model versus Non-Linear Model
In the linear production possibilities model, we assume each of five equally-sized parcels of land
contributes the same to the pr
ECONOMICS FINAL PAPER: COMPARISON OF
RUSSIA AND HONDURAS ECONOMIC SYSTEMS
September 18, 2016
The two countries I selected to compare economic statuses and well beings with are Russia and
Honduras. They are both very similar countries
Please read the following scriptures: Proverbs 3:16, 13:4, 14:23, 21:13; Luke
4:18; I John 3:17-19.
One of the outcomes of a free market, or capitalistic, economic system is wide
disparity in the level of income earned by households. The textbook discusse
1. What effect will each of the following have on the demand for hybrid automobiles?
a) The price of gasoline goes up. - POSITIVE
b) The price of large automobiles rises. - POSITIVE
c) Hybrid autos become more fashionable. - POSITIVE
d) Consumers anticipa
ANSWERS IGHLIGHTED IN BOLD
1. Discuss the reason why economists prescribe a low, but not a zero, unemployment rate. What rate of
unemployment do economists point to for a healthy economy?
Table 10.1Population and labor force data (questions 2 5)
ALL ANSWERS IN BOLD.
Table 7.2Monopoly costs and revenue (problems 1 4)
1. In Table 7.2, profit maximization is achieved at a rate of:
A. 1 unit of output.
B. 2 units of ou
ALL ANSWERS HIGHLIGHTED IN BOLD.
1. How do banks create money?
The main source of income for banks lies in their loan processes, they will charge fees (Such as loan
writing fee, processing fee, etc.) as well as set an interest rate for you to pay when you
Libertarian politicians and Austrian economists generally have a very negative view of central
banks such as the Federal Reserve. Other economists generally view central banks as an
effective means of encouraging economic growth. Please discuss the follow
How does competition help consumers?
In todays competitive market where everyone is striving to be the top dog in
their respected industries, competition can be a great thing for a company
because it will bring out the best in the businesses that are com
Whenever the U.S. enters a recession there are usually calls for politicians to enact policies that
will stimulate the economy.Please answer the following questions related to fiscal policy:
What are the tools of expansionary fiscal policy? In other words