QUESTION In a given production process, each item goes through two manufacturing stages. At the end of each stage, they are reprocessed in the same stage with probability 0.2, discarded with probability 0.10, or passed to the next stage with probability 0.70. The processing cost per item in stage 1 is $2000 and $1000 in stage 2. The processing cost for each item is $200 […]

QUESTION As you have learned by now, Keynesian economics is a macroeconomic economic theory of total spending, also known as aggregate demand and its effects on output, employment, and inflation. Based on his theory, Keynes advocated for increased government expenditures and lower taxes to stimulate demand in order to pull the global economy out of a recession. One of the by-products of Keynesian economics is deficit […]

QUESTION Watch the viral video, “Fight of the Century: Keynes Vs. Hayek” and create an original post describing your thoughts and new considerations on the material described in the presentation. Watch this video several times, if possible. The information dispensed is more in depth and complete than many master’s level econ courses. It is also HIGHLY entertaining! This is a video that has famously made […]

QUESTION Should the Federal Reserve System control the nation’s money supply? Defend your position using economic principles and utilize the Monetary Policy Report to Congress https://www.federalreserve.gov/monetarypolicy/publications/mpr_default.htm (please review and report findings/data from the latest version) and an assessment of the existing reporting of money supply measures https://www.federalreserve.gov/releases/h6/current/default.htm to support your work.  For additional application, please review and report trends tied to the COVID-19 pandemic monetary […]

QUESTION Why do you think idleness is so stressful for employees?  What can companies do to prevent their staff from feeling the “deadtime effect?”  Do you have any examples to share of what you have done to make sure you don’t have “deadtime” at work? Source: Michael Blanding, “Having Nothing to Do at Work Costs US Companies $100 Billion Each Year,” Quartz, January 31, 2018 ANSWER The […]

QUESTION Inflation with slow rate of economic growth seem to be disturbing national economies post-COVID-19. I identify possible ways to mitigate effects of raising inflation and promoting sustainable growth. how can central banks and trading partners help the PICs in dealing with these problems ANSWER Mitigating Inflation and Promoting Sustainable Growth in Post-COVID-19 Pacific Island Countries (PICs): The Role of Central Banks and Trading Partners […]

QUESTION Inflation with slow rate of economic growth seem to be disturbing national economies post COVID19. Identify possible ways to mitigate effects of raising inflation and promoting sustainable growth. How can central banks and trading partners help the PICs in dealing with these problems. ANSWER Mitigating Inflation and Promoting Sustainable Growth Post-COVID-19 in Pacific Island Countries Introduction The COVID-19 pandemic has left a lasting impact […]

QUESTION I have to build a study case Resist the binge Author: Robert Z. Lawrence Date: July-August 1996 From: Foreign Affairs(Vol. 75, Issue 4) Publisher: Council on Foreign Relations, Inc. Document Type: Article Length: 1,587 words Content Level: (Level 4) Abstract: Kapstein ignores several other factors as he blames workers’ problems on global trade. Technological change is surely biased toward higher-skilled workers. Compounding the problems […]

QUESTION Consider the consumer optimization problem discussed in class where the representative consumer’s preference are represented by the utility function U(C,l)=ln(C)+θln(l) （1） The consumer’s budget constraint is C=wN^s+π−T （2） The consumer also faces the time constraint l+N^s=h (3) Maximize the consumer’s utility function subject to constraints (2) and (3) (use the Lagrange method used in the class). Solve for consumption in terms of θ, h, […]