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- Using the Circular flow of money and goods, discuss how decisions in a household affected the economic flow during this pandemic.The debate about centralization and decentralization is heating up again with the advent of BYOD and the increasing use of the Web. Why does the Internet make this debate topical?How did the administrative command system give rise to the “shadow Economy”? How did the shadow economy foster the rise of the oligarchs during Russia’s transition to capitalism?
- How might government and education leaderswork with businesses to minimize structuralunemployment?is it better to have bank based or market based economiesIn an OLG model with money: Each gen picks 12 bananas when young, 0 bananas when old. Central bank prints out 2 units of money, given to gen 0 for free. The price level of this economy is 1 bananas = ______ money.
- What does the term exogenous money supply mean? a. The money supply is determined by external factors b. The money supply is controlled by households c. The money supply is determined by the central bank d. The money supply is determined by market forces.Why is the economic indicator “consumer sentiment” relevant for making successful policy decisions?What was Bretton Woods, and why did it also collapse?
- What came after Bretton Woods?For each program listed below, discuss what market failure might be (or are ) used as a partial rationale. a) Automobile safety belt requirements b) Regulations on automobile pollution c) National Defense d) Unemployment compensation e) Medicare (medical care for the aged) f) Medicaid (medical care for the indigent) g) Federally Deposit Insurance Corporation h) Federally insured mortgages i) Law requiring lenders to disclose the true rate of interest they are charging on loans (truth-in-lending laws) j) National Weather Service k) Urban renewal l) Post Office m) Government prohibition of the use of narcotics n) Rent contrWhy are institutions persistent and often unchanging according to Daron Acemoglu?