Questions from Macroeconomics

Q: (a) What is the cost of the North Korean 2009

(a) What is the cost of the North Korean 2009 missile launch, according to South Korea ? (b) How many people could have been fed for an entire year at the World Bank standard of $2 per day with that m...

Q: What is the specific market failure justification for government spending on

What is the specific market failure justification for government spending on (a) public universities, (b) health care, (c) trash pickup, (d) highways, (e) police, and (f) solar energy? Would a...

Q: What is the opportunity cost (in civilian output) of a

What is the opportunity cost (in civilian output) of a defense buildup that raises military spending from 4.3 to 4.7 percent of a $15 trillion economy?

Q: What are the three core economic questions societies must answer?

What are the three core economic questions societies must answer?

Q: According to Figure 1.4, (a) At

According to Figure 1.4, (a) At which point(s) is this society producing some of each type of output but still producing inefficiently? (b) At which point(s) is this society producing the most output...

Q: Suppose either computers or televisions can be assembled with the following labor

Suppose either computers or televisions can be assembled with the following labor inputs: / (a) Draw the production possibilities curve for an economy with 54 units of labor. Label it P54. (b) Wha...

Q: According to the World View on page 15, which nation has

According to the World View on page 15, which nation has (a) The highest level of faith in the market system? (b) The lowest level of faith in the market system?

Q: If a person literally had “nothing else to do,”

If a person literally had “nothing else to do,” (a) What would be the opportunity cost of doing these problems? (b) What is the likelihood of that?

Q: Suppose there’s a relationship of the following sort between study time and

Suppose there’s a relationship of the following sort between study time and grades: / If you have only 20 hours per week to use for either study time or fun time, (a) Draw the (linear) production...

Q: In 2010 the world’s total output (real GDP) was roughly

In 2010 the world’s total output (real GDP) was roughly $75 trillion. What percent of this total was produced? (a) By the three largest economies (World View, p. 31)? (b) By the three smallest economi...