Questions from General Economics

Q: To what extent do you think normative economic analysis, as opposed

To what extent do you think normative economic analysis, as opposed to positive economic analysis determines our nation's public policy decisions made by government? Why? Is that "good" or "bad?" Why?...

Q: What are our nation's major macroeconomic goals? Are they in conflict

What are our nation's major macroeconomic goals? Are they in conflict with each other?

Q: Calculate the official poverty threshold annual income for a family of four

Calculate the official poverty threshold annual income for a family of four. Assume the minimally acceptable diet is estimated to be $5 per person per day and the minimum wage is $5 per hour. Will a h...

Q: Would free health care reduce poverty, as measured by the government

Would free health care reduce poverty, as measured by the government? Would free public housing, day care, and job training for the poor reduce the poverty rate? Explain.

Q: List the major government cash assistance and in-kind transfer programs

List the major government cash assistance and in-kind transfer programs to assist the poor. Which of the programs are not exclusively for the poor?

Q: The Zippy Paper Company has no control over either the price of

The Zippy Paper Company has no control over either the price of paper or the wage it pays its workers. The following table shows the relationship between the number of workers Zippy hires and total ou...

Q: Which of the following are microeconomic issues? Which are macroeconomic issues

Which of the following are microeconomic issues? Which are macroeconomic issues? a. How will an increase in the price of Coca-Cola affect the quantity of Pepsi Cola sold? b. What will cause the nation...

Q: What is the relationship between the marginal revenue product (MRP)

What is the relationship between the marginal revenue product (MRP) and the demand curve for labor?

Q: Assume the labor market for loggers is perfectly competitive. How would

Assume the labor market for loggers is perfectly competitive. How would each of the following events influence the wage rate loggers are paid? a. Consumers boycott products made with wood. b. Loggers...

Q: Suppose states pass laws requiring public school teachers to have a master’s

Suppose states pass laws requiring public school teachers to have a master’s degree in order to retain their teaching certificates. What effect would this legislation have on the labor market for teac...