Economy

Economy

The post has three asighnments

1:Economy

Author: Lane Kenworthy
Title of Article: It’s Hard to Make it in America: How the United States Stopped Being the
Land of Opportunity
Read it online at http://www.langaa-rpcig.net/+It-s-Hard-to-Make-It-in-America+.html

—————————————- What is a critique?

What to keep in mind when you prepare your critique:
1. What is the specific topic and what is overall purpose of the article?

2. For whom is it written?
3. What is the thesis of the article? What are the theoretical assumptions? Are they discussed explicitly? Is the article biased in any way or are the arguments objectively presented? Does the author use mostly normative statements, positive statements or analytical statements?

4. What kinds of material does the work present (e.g. primary documents or secondary material, personal observations, literary analysis, quantitative data, biographical or historical accounts)?

5. How is this material used to demonstrate and argue the thesis? (As well as indicating the overall argumentative structure of the work, your review could quote or summarize specific passages to describe the author’s presentation, including writing style and tone.)

6. Are there alternative ways of arguing from the same material? Does the author show awareness of them? In what respects does the author agree or disagree with them?

7. What theoretical issues and topics for further discussion does the work raise?

More information:
Check out the following document for a good outline on how to present a high-quality
critique/review of an article: http://wwwdocs.fce.unsw.edu.au/fce/EDU/eduwritingcritreview.pdf

2:What/who is more at fault in the story – the monster’s nature or the way in which he is/isn’t nurtured?

3:Economics

Below is a production possibilities table for consumer goods (candy bars) and capital goods (bags of peanuts):

Number of CandyBars Bags of Peanuts
0
4
8

a) Draw the production possibility frontier.
b) Is this company able to produce 12 candy bars and 6 bags of peanuts? What does this combination of output suggest about the use of resources?
c) Is this company able to produce 8 candy bars and 4 bags of peanuts? What does this combination of output suggest about the use of resources?
d) What happens to the opportunity cost of producing more and more candy bars? Does it increase, decrease or remain constant? Explain your answer.
e) What would be the opportunity cost of producing 2 more bags peanuts if this company were currently producing 8 candy bars and 4 bags peanuts?
f) What happens to the production possibilities frontier if improvement occurs in the technology of producing bags peanuts but not in the technology of producing candy bars?

Problem 2

Quantity of cars Quantity chocolates
France 90 1800
Germany 100 3,000

a- Suppose the two countries specialize and trade. Who should produce cars and who should produce chocolates? Explain your answer.

Problem 3

Price
(dollars per pound of cat food) Quantity demanded
(tons of cat food per year) Quantity supplied
(tons of cat food per year)
1.00 52 15
1.50 46 26
2.00 43 34
2.50 40 40
3.00 35 44

Suppose the market for cat food has the demand and supply schedules shown in the table above.
a- Draw a figure showing the demand curve and the supply curve of cat food. What are the equilibrium price and quantity?

b- Suppose that the current price is $1.00 per pound of cat food. What is the quantity of cat food sold? Explain.
c- Is there a shortage or a surplus? How big is it? Explain.Explain how the market adjusts
d- If the supply increases by 20 tons at every price. What is the new equilibrium price and the new equilibrium quantity of cat food?
e- Compared to the first equilibrium point do we have a shortage or a surplus?

America