Questions from General Economics

Q: Relate each of the following to the 1995 to 2010 increase in

Relate each of the following to the 1995 to 2010 increase in the trend rate of productivity growth: a. Information technology b. Increasing returns c. Network effects d. Global competition

Q: What, if any, are the benefits and costs of economic

What, if any, are the benefits and costs of economic growth, particularly as measured by real GDP per capita?

Q: Would you expect a country with a total fertility rate of 2

Would you expect a country with a total fertility rate of 2.7 to have a growing or a shrinking population over the long run? What about a country with a total fertility rate of 1.2? In 20 years, will...

Q: Explain verbally and graphically how price (rate) regulation may improve

Explain verbally and graphically how price (rate) regulation may improve the performance of monopolies. In your answer distinguish between (a) socially optimal (marginal-cost) pricing and (b) fair-ret...

Q: It has been proposed that natural monopolists should be allowed to determine

It has been proposed that natural monopolists should be allowed to determine their profit-maximizing outputs and prices and then government should tax their profits away and distribute them to consume...

Q: Using Big Data to set personalized prices cannot be done with 100

Using Big Data to set personalized prices cannot be done with 100 percent precision. What would happen if personalized prices were set higher than customers' reservation prices? Would this possibilit...

Q: Jermaine spends his money on cucumbers and lettuce. If the price

Jermaine spends his money on cucumbers and lettuce. If the price of cucumbers falls, the MU per dollar of cucumbers will ______________ and Jermaine will _______________ cucumbers for lettuce. LO4 a....

Q: In what ways are national income statistics useful?

In what ways are national income statistics useful?

Q: Suppose that the paper clip industry is perfectly competitive. Also assume

Suppose that the paper clip industry is perfectly competitive. Also assume that the market price for paper clips is 2 cents per paper clip. The demand curve faced by each firm in the industry is: a...

Q: Suppose that a country’s annual growth rates were 5, 3,

Suppose that a country’s annual growth rates were 5, 3, 4, -1, -2, 2, 3, 4, 6, and 3 in yearly sequence over a 10-year period. What was the country’s trend rate of growth over this period? Which set o...