MT 445 Unit 1 Assignment Updated

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MT 445 Unit 1 Assignment Updated

Analyze whether each of the following is primarily a microeconomic or a macroeconomic issue:
Explain why each of the following is either a positive or normative economic statement.
Identify the effect of each of the following on the United States Production Possibilities Frontier (PPF).  Does it shift inward, outward, or not at all?
Identify whether each of the following would increase or decrease the opportunity costs for stay-at-home moms or dads (those who choose not to accept work outside the home). Briefly explain your answers.

MT 445 Unit 10 Assignment Updated

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MT 445 Unit 10 Assignment Updated

Compare and contrast the following exchange rate systems: 
Thoroughly discuss advantages and disadvantages of each system and explain how exchange rates are determined under each system.  

MT 445 Unit 2 Assignment Updated

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MT 445 Unit 2 Assignment Updated

Analyze what would happen to equilibrium price and quantity in the market for Pepsi if the following occurred (be sure to indicate WHY it happens as well):
Analyze the following demand and supply equations. What is market equilibrium price?  What is market equilibrium quantity?
Assume the government places a price ceiling at $7 in the market. What is quantity demanded?  What is quantity supplied?  Is there a shortage or a surplus?
Using the diagram below, answer the following questions:

MT 445 Unit 3 Assignment Updated

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Is the price elasticity of demand for gasoline more elastic over a shorter or a longer period of time?
Is the price elasticity of supply, in general, more elastic over a shorter or a longer period of time?  Explain.
Why is the supply curve for labor usually upward sloping?
In the graph below, assume that the market demand curve for labor is initially D1. Answer the following questions.
Use the following data to answer the questions below. Assume a perfectly competitive product market.

MT 445 Unit 4 Assignment Updated

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Identify whether each of the following is an explicit cost or an implicit cost:
Consider the following information in the table for Pat’s Pizza Restaurant and answer the questions below.
Consider a firm’s production decision in both the short-run and long-run.  Explain what type of input costs might be fixed in the short-run and which might be variable in the short-run.  Provide one example of each.

MT 445 Unit 5 Assignment Updated

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MT 445 Unit 5 Assignment Updated

How does the demand curve faced by a perfectly competitive firm differ from themarket demand curve in a perfectly competitive market?
A perfectly competitive firm has the following fixed and variable costs in the short run. The market price for the firm’s product is $140.
How does the profit maximization condition for a monopoly differ from that for a perfectly competitive firm? How does this difference impact efficiency under each market structure?
The following table provides market share information about the soft-drink industry.
Do you think the Department of Justice and the Federal Trade Commission would approve a merger between any two of the first three companies listed?
Do you think this market has barriers to entry? If so, what might they be?

MT 445 Unit 6 Assignment Updated

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Do the firms in an oligopoly act independently or interdependently? Explain your answer.
A monopolistically competitive firm has the following demand and cost structure in the short run:
Suppose that Wal-World and Tarbo are independently deciding whether to implement a new bar code technology.  It is less costly for their suppliers to use one system and the following payoff matrix shows the profits per year for each company resulting from the interaction of their strategies.

MT 445 Unit 7 Assignment Updated

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Why does inflation make nominal GDP a poor measure of the increase in total production?
Which component of GDP will be affected by each of the following transactions involving FlyCheap Airlines? If you do not believe any component will be affected, briefly explain why.
In an open economy, trade is allowed between countries. Assume a consumer purchases $1,000 worth of furniture manufactured in China.  Answer the following:
Describe the relationship between labor productivity and growth? How do technological advancements impact labor productivity?

MT 445 Unit 8 Assignment Updated

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Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve, neither, or both. Which curve shifts, and in which direction? What happens to aggregate output and the price level in each case?
Determine whether the following statements are true or false.
Refer to the following data on the U.S. consumer price index and answer the questions below.
What are some of the costs associated with anticipated inflation?  Why do these differ from those associated with unanticipated inflation?