- Discuss the differences between tariffs and quotas. How are they the same, and how ae they different?
- How does international trade alter the distribution of income and wealth within a country and among different countries? Is trade a force of equality or inequality?
- What is monopsony? How can professional sport teams be considered monopsonies?
- Define what is often called a business cycle. Why is the case and characteristics of each business cycle is different?
- How did the financial crises of 2007 begin in the real estate market?
- Discuss the relative effectiveness of the Federal reserve policy control methods, namely open market operations, the discount rate and the legal reserve requirements.
- Discuss exogenous theories of the business cycle postulate. Give an example that help consolidate your discussion.
- Explain why a strong macro system should keep eye on unemployment and inflation to run a healthy economy.
- What is cyclical unemployment? What policy should you pursue to fight cyclical unemployment?
- What is full-employment rate of unemployment? Discuss.
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