Economics

Prepare a research paper on the following topic:   “Will the consequences of COVID-19 result in a repeat of the Housing Market Crash of 2008?” This paper is a research, analysis and comparison paper with the speculative conclusion.   ·      You will have to look at the HMC of 2008: –       Reasons that started the housing Market crash in the US –       Analyze how it was handled by US government –       Look at the interest rates and mortgages fluctuations (and whatever else might be relevant to make a proper comparison)   ·      Then look at the current situation –       Briefly state the reason for current economic stagnation in the USA (COVID-19) –       Analyze how the current US government is handling the issue –       Look at current interest rates and mortgages (and whatever else might be relevant to make a proper comparison)   ·      Compare each of the 3 points: 2007-2008 and 2020 and make your predictions for 2021.   The structure of the paper:   ·       Introduction: State your thesis and the purpose of your research paper clearly. Explain briefly the major points you plan to cover in your paper, and why readers should be interested in your chosen topic.   Body: This is where you present your argument to support your thesis.   Conclusion: Restate your thesis. Summarize your arguments. Explain why you have reached your conclusion.   APA Format, 4 (to 5) pages long, minimum of 4 references (or as many as you need)

Read the following and answer the questions below: The federal government can take legal action against a firm under antitrust laws if the government believes that the firm has created a monopoly. The U.S. Federal Trade Commission (FTC) spent two years beginning in 2011 investigating whether Google had violated antitrust laws before concluding that it hadn’t. The European Union, which is an organization of 28 European countries, has similar rules against firms forming monopolies. The European Commission enforces these rules. In early 2011, Microsoft filed a complaint with the European Commission that Google was using its dominant position as an Internet search engine to exclude competitors. In 2013, Google reached a settlement with the European Commission in which the firm agreed to clearly label any search results that directed users to sites that Google owns. Still, many critics argued that both the FTC and the European Commission should take further actions against some of Google’s practices. But is Google a monopoly? Clearly, Google is not the only Internet search option available. Yahoo! has for a number of years operated a search engine, Microsoft operates the Bing search engine, and there are a number of smaller search engines. Critics point out, though, that Google has a dominant market share of 70 percent in the United States and 90 percent in Europe. Can the other search engines effectively compete with Google? Microsoft argues that Google has taken steps to create an effective monopoly: [Google] understands as well as anyone that search engines depend upon the openness of the Web in order to function properly…. Unfortunately, Google has engaged in a broadening pattern of walling off access to content and data that competitors need to provide search results to consumers and to attract advertisers. Microsoft was particularly concerned that Google was limiting the access of other search engines to YouTube, which Google owns: “Without proper access to YouTube, Bing and other search engines cannot stand with Google on an equal footing in returning search results with links to YouTube videos and that, of course, drives more users away from competitors and to Google.” Microsoft also complained that Google was limiting the access of other search engines to many of the books that Google had scanned and made available on the Web. Google, naturally, takes a different view of its position. The company argues that its dominant market share is due to the higher quality of its search engine, not any attempts the company has made to reduce the access of other search engines to online content. In a response to the FTC investigation, Google noted: “We want [users of search engines] to stay with us because we’re innovating and making our products better—not because [they are] locked in.” Many economists consider a firm to have a monopoly if other firms are unable to compete away its profit in the long run. Some economists argue that rapid technological advances affecting search engines and other aspects of the Internet make it unlikely that Google would be able to maintain its current level of profitability indefinitely. The debate over whether other search engines can compete with Google or whether it is effectively a monopoly is likely to continue. A newspaper article has the headline “Google Says It’s Actually Quite Small.” According to the article: Google rejects the idea that it’s in the search advertising business, an industry in which it holds more than a 70 percent share of revenue. Instead, the company says its competition is all advertising, a category broad enough to include newspaper, radio and highway billboards. Questions Why does Google care whether people think it is large or small?  Do highway billboards actually provide competition for Google?  Briefly explain.

On March 8, 2018, President Trump used his authority granted under the Trade Expansion Act of 1962 to impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports, effective March 28, 2018. Initially, Canada, Mexico, and members of the European Union were exempt from these tariffs, but this exemption was taken away on June 1. Tariffs, or taxes on imported goods, are the most widely used type of trade barrier and are often considered economically inefficient. Do some research on these tariffs and then address the following: 1. What official reason was given for the implementation of these tariffs? 2. Who will receive the most benefit from these tariffs and who will be harmed by them? 3. Relate these tariffs to the economic principle of comparative advantage and discuss what will happen to production and prices of those products that use steel and aluminum. 4. Explain why some American companies might be opposed to these tariffs. 5. What do you think will be the economic consequences of these tariffs, both domestically and globally? 6. Do you believe the implementation of these tariffs was a good idea? Why or why not?

Discussion Questions 1. what are the major factors that determine any workers salary? do these fac- tors justify the gross compensation of CEos in America? 2. do you think the rapid increase in CEo compensation over the past two dec- ades has come at the expense of the average worker? 3. Should a Christian CEo accept the large stock options and the bonuses of- fered to the typical CEo? Book Reference: chapter 9 Bulls, Bears, and Golden Calves: Applying Christian Ethics in Economics Author: Stapleford, John E. Publisher: Inter Varsity Press Edition: 3rd edition ISBN: 9780830840724

I’ve noticed a couple of things over the past few years. The price of gasoline continues to fluctuate over time. We are thrilled when the price decreases. And we complain about the price of gasoline when it increases. We are fully aware that there are very limited substitutes for gasoline and oil, as used for driving and heating homes. Recently a common price for unleaded gasoline at the gas pumps in the Mid-Hudson Valley of New York has been approximately $2.35 per gallon. The other day a local gas station was selling regular unleaded gas for $2.09 per gallon…. I filled up the tank in my car and felt that I had gotten a real bargain! Gas prices are currently low due to the pandemic and it is one of the things that we are happily noticing.On the other hand, bottled water has become a popular consumption item. We willingly purchase bottled water, even though there are substitute beverages, including juice, coffee, tea, milk, soda, and TAP WATER. I collected information on the price of bottled water at a local grocery store. The least expensive brand was Poland Spring Water (@$.49 per quart) and the most expensive brand was Perrier (@$1.89 per quart). If we compare the price of water with the price of gasoline, Poland Spring Water costs $1.96 per gallon and Perrier costs $7.56 per gallon. The least expensive brand is not much cheaper than gasoline and the most expensive brand clearly costs a lot more than gasoline per gallon.Recently it was reported that Dr. Pepper Snapple Group Inc. has experienced growth in sales and profits, largely attributable to an increasing demand for bottled water as growth in the company’s fountain food service business.Why are we so willing to pay these prices for an item (bottled water) that has many alternatives and yet complain about the price of gasoline, for which there are few alternatives? Does there seem to be a relationship between a buyer’s sensitivity to price and how much we complain?!?!?!?!Do you think marketing and advertising has anything to do with our willingness to pay for water? A successful marketing or advertising campaign will increase the demand (shift the demand curve to the right) and/or decrease the buyer’s sensitivity to price changes. What factors do you think affect our sensitivity to prices of gasoline and bottled water? Please comment…

Instructions: An economic way of thinking applies whenever a person is faced with making a choice under scarcity, which means that economics matters in the smallest and biggest decisions in life. Understand each of the five foundations of economics enables people to make better choices. You are to watch the following video clips and to identify which foundation(s) of economics each video clip shows. You then have to write up a summary ( in paragraph style) on how and where on each video clip reflects those foundations of economics. You will then post your summary on the discussion board. Here are several questions that you should think about while watching the first video.  https://youtu.be/1hPg1GRQzD0 1. Which economic foundations does this video present?  There are more than a few economic foundations presented in this video.  2. What are the trade-offs we are seeing in this video clip? Here are several questions that you should think about while watching the second video.  https://youtu.be/aFYlgqv3T-w What economic foundations and What are economic lessons do you learn from this video? In particular, does your real estate agent have your best interest in mind? What is the big incentive for the real estate agents? Summarize what you learn from this example about the power of incentives.

Consider Example 5.7 in your textbook:  In this example, why is $100 only worth $9.23 today?Discounting: If we increased the length of time involved, would this present value increase or decrease?Compounding: If the going rate of the savings certificate increased above 10%, what would happen to the future value of the certificate?Would it be above or below $100?Ethics: Is this scenario deceptive advertising?  Why or why not?Support your position with at least one biblical principle with a specific Bible verse that you feel is relevant to the situation (explain how and why it applies).

For Term Paper #1 you are required to pick a product or service you use in your everyday life and describe the market for this product. Please make sure to address the following questions:1. What factors influence the demand for this product? What factors influence the supply of this product?2.How have these changes in supply and demand affected the equilibrium price of this product?3.Do you anticipate any changes to the demand and/or supply of this product in the near future? If so, what is driving these changes?Complete this essay in a Microsoft Word document in APA format. Your work will automatically be submitted to Turnitin for plagiarism review. Please note that a minimum of 700 words for your essay is required.

Find a news article of your choice describing a good or service (you may use articles from websites such as cnn.com or foxnews.com). Summarize the situation and identify what supply or demand shift factor is at work. Describe the effect on equilibrium price and quantity given the shift factor. Provide a copy of your article with your written assignment.Writing assignments are to be completed inAPA format, double spaced, and 1-2 pages in length. In your response, be certain to answer all questionsclearly and concisely

Read the case “The Role of Labor Costs in Retail Electronics”, and answer the questions below:1. What are the differences in the cost cutting measures implemented at Best Buy and Circuit City? Do you believe that the compensation changes at Best Buy are a major reason for its current difficulties?2. Are there larger problems in the competitive landscape for Best Buy that cannot be solved by compensation strategy changes alone? When customers look to buy electronics, what options do they have other than Best Buy and why would they choose these options over Best Buy? Where do customers “test drive” the product and where do they buy it? Can compensation changes address these challenges? Explain.