Question

In 2007 the hourly cost to employers per German industrial worker was $51. The hourly cost to employers per U.S. industrial worker was $31, while the average cost per Taiwanese industrial worker was $8.
a. Give three reasons why

Question

In 2007 the hourly cost to employers per German industrial worker was $51. The hourly cost to employers per U.S. industrial worker was $31, while the average cost per Taiwanese industrial worker was $8.
a. Give three reasons why

Question

Assume the United States can produce Toyotas at the cost of $18,000 per car and Chevrolets at $16,000 per car. In Japan, Toyotas can be produced at 1,000,000 yen and Chevrolets at 500,000 yen.
a. In terms of Chevrolets,

Question

Tyler Cowen, an economist at George Mason University, presents an interesting case that pits the market against legal and social forces. The case involves payola—the payment of money to disk jockeys for playing a songwriter’s songs. He reports that Chuck

Question

Economics is about strategic thinking, and the strategies can get very complicated. Suppose you kiss someone and ask whether the person liked it. You’d like the person to answer “yes” and you’d like that answer to be truthful. But they

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Economist Steven Landsburg argues that if one believes in the death penalty for murderers because of its deterrent effect, using cost/benefit analysis we should execute computer hackers—the creators of worms and viruses—because the deterrent effect in cost saving would be

Question

State whether the following is an example of deductive, inductive, or abductive reasoning:
a. The number of rings inside a tree is the age of a tree. This tree has 10 rings. Conclusion: This tree is
10 years

Question

State whether the following statements belong in positive economics, normative economics, or the art of economics.
a. In a market, when quantity supplied exceeds quantity demanded, price tends to fall.
b. When determining tax rates, the government should

Question

State whether the following are primarily microeconomic or macroeconomic policy issues:
a. Should U.S. interest rates be lowered to decrease the amount of unemployment?
b. Will the fact that more and more doctors are selling their practices to

Question

Individuals have two kidneys, but most of us need only one. People who have lost both kidneys through accident or disease must be hooked up to a dialysis machine, which cleanses waste from their bodies. Say a person who has