One of the scarce resources that constrain our behavior is time. Each of us has only 24 hours in a day. How do you go about allocating your time in a given day among competing alternatives? How do you go about weighing the alternatives? How can you apply the concepts of opportunity cost to your decision to attend Ashford?
The rent for apartments in New York City has been rising sharply. Demand for apartments in New York City has been rising sharply as well. This is hard to explain because the law of demand says that higher prices should lead to lower demand. Do you agree or disagree? How is this going to affect prices in the market for New York City? Make sure to provide appropriate economic terms in your answers
Visit the Bureau of Labor Statistics and click on the links for state employment and unemployment. Look at your home state and describe what changes have taken place in the workforce and unemployment rate. Has the labor force participation rate gone up or down? Provide an explanation for the rate change. Are your state’s experiences the same as the rest of the country? Provide an explanation of why your state’s experiences are the same or different from the rest of the country
With each of the following examples, please explain what happens to contributions to GDP and economic growth in each of the following statements: a. A woman who makes a living charging for investment advice on her Internet website marries one of her clients, to whom she now provides advice at no charge.
b. A tennis player wins two top professional tournaments as an unpaid amateur, meaning the tournament sponsor does not have to pay out his share of prize money. c. A public utility installs new antipollution equipment in its smokestacks. Respond to at least two of your classmates’ postings.
While many thought that the 2008 fiscal stimulus plan described in the feature on pg. 174 was a good idea, some did not. Some even thought that Congress didn’t go far enough. In retrospect, who was right? Did the economy experience a recession in 2008 or 2009? What happened to employment during the rest of 2008? What are some of the alternatives to a tax cut that might have been used?
Why do you think the FED evaluates the money multiplier when making decisions with regard to the money supply? What function does the money supply serve in our economy to influence certain economic variables? Why does the FED like to fight inflation in our economy and is inflation a concern right now given our current economic situation?