Homework Help for Economics

What is the full form of SEBI?

What is the full form of WTO?

Who is the founder of Pakistan?

Economic theory, social behavior, and general public perceptions of a market economy were all impacted by the Great Depression. Respond to this questions

   A. What were some of the solutions that Keynesian economists suggested to get society out of the Great Depression? The logic behind them is extremely crucial, therefore please explain.

    B. Describe how, compared to the liberals ('free markets') and the radicals (socialists) in the USA in the 1930s, the Keynesian approach to guiding economic public policy constituted middle way' or 'centrist' approach.

    C. Describe the new Keynesian "consensus" perspective that governed post-World War II America, including how the government controlled the market system during this time and how it collapsed in the 1970s, allowing a new, more "pro-business" approach to economic public policy to emerging in the 1980s.

    D. Finally, what are some of the biggest contrasts between the post-World War II era (for example, the "Golden Age") and the "pro-business" neoliberal era, and how can we explain them?

 Assume the 2 countries trade 3.85 units of rice with 3.85 units of cocoa. Will both countries benefit from trade? What’s the net gain for each country. Show all the work.

1. FDI often creates jobs in the host country. Discuss the direct and indirect effects of jobs creation in the host country.

2. From a home country perspective, FDI can have a negative impact on the balance of payments. Discuss.

1.Define dumping. How do governments respond to charges of dumping?

2.Discuss the two main forms of FDI.

3.List three of the FDI benefits the host country might enjoy.

1. What is the World Trade Organization? What is its role in the world economy?

2. Explain what is meant by the globalization of markets. Provide an example. What are the most global markets?

3. What are the four attributes that are discussed in Porter’s diamond? Briefly explain each attribute.

What is law of diminishing returns?

1.To maximize profit, companies are offering more and more options of the same product. This causes some consumers to avoid buying the product entirely. What's the psychological explanation of such a counterintuitive consumer behavior? Explain your answer.

2. Fast food companies use very bright colors in their logos and packaging of fast-food sandwiches.  (Wendy's McDonold, In-n-out, and pizza hut)

This is meant to promote the brand and influence customers' decision making. It is possible that these companies are trying to exploit some of the biases or effects we have seen in this course. Can you think of an effect or a bias that might explain such strategies?

3. The image above shows the dissatisfaction of some of the silver medal winners in the 2012 London Olympics. Explain what might be the reason that bronze medalists (3rd place) tend to be happier than silver medalists (2nd place). 

1. What is bounded rationality? Why does it exist? Give a real-life example.

2. What is "confirmation bias"? Give a real-life example.

3. Name two biases associated with heuristics and give a real-life example of each one.

Decision

State of the world

Probability

Payoff

Hiking

Sunny

0.5

20

Raining

0.5

0

Staying home

Sunny

0.5

4

Raining

0.5

18

You need to decide what you will do tomorrow. Based on the probabilities given and the associated payoffs, should you decide to go hiking or stay home? (Show work)