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management information systems

Questions and Answers of Management Information Systems

The dissident Russian writer A. Amalrik has written:The Russian people . . . have . . . one idea that appears positive: the idea of justice . . . In practice, “justice”involves the desire that
Is it ever appropriate for society to:Let someone starve?Let someone be homeless?Forbid someone to eat chocolate?
List four conditions you believe should hold before you would argue that two individuals should get the same amount of income.a. How would you apply the conditions to your views on welfare?b. How
If a garbage collector earns more than an English teacher, does that mean something is wrong with the economy?Why or why not?
Some economists argue that a class distinction should be made between managerial decision makers and other workers. Do you agree? Why or why not?
Antipoverty programs in the United States since the mid-1990s have focused on welfare-to-work programs that compel welfare recipients to take paid jobs. Some economists argue that these programs
Say you earn $200, and the government takes $75 from you in taxes to give to someone else.a. How would you feel about that?b. What would that transfer likely do to your incentive to work?c. What
In 2014 the poverty level for a family of four was $24,418.a. If one-third of the total income of lower-income households is typically used for food, estimate the amount of money per day per person
In the Old Testament, God promised riches to Israel if Israel kept God’s commandments. But in the New Testament, Jesus says that it is easier for a camel to go through the eye of a needle than for
In a recent study the top 20 percent of Americans had 49.7 percent of the income before taxes and transfers and 48.3 percent after taxes and transfers. The same figures for the bottom 20 percent were
Some economists have proposed making the tax rate progressivity depend on the wage rate rather than the income level. Thus, an individual who works twice as long as another but who receives a lower
In Taxland, the first $10,000 earned per year is exempt from taxation. Between $10,000.01 and $30,000, the tax rate is 25 percent. Between $30,000.01 and $50,000, it’s 30 percent. Above $50,000,
In what instance would John Rawls support greater income inequality? (LO18-3)
Why did Bertrand de Juvenal argue for a high level of income inequality? (LO18-3)
How is the distribution of income related to the emergence of the Tea Party and the Occupy movement? (LO18-2)
Is the class system in the United States more like a pyramid, diamond, or pentagon? Why is this so? (LO18-2)
How has the median income of women compared to men changed since 1980? What do you think is the cause? (LO18-2)
Would the Lorenz curve for the world be more or less bowed out compared to the Lorenz curve for the United States? (LO18-1)
How does social mobility in the United States compare to that in Britain? Why do you think this is so? (LO18-1)
Should poverty be defined absolutely or relatively?Why? (LO18-1)
The accompanying table shows income distribution data for three countries. (LO18-1)a. Using this information, draw a Lorenz curve for each country.b. Which country has the most equal distribution of
Why are we concerned with the distribution of income between whites and blacks, but not between redheads and blondes? (LO18-1)
What would the Lorenz curve for lawyers represent?(LO18-1)
The Lorenz curve for Bangladesh looks like this:How much income do individuals in the top income quintile in Bangladesh receive? (LO18-1) Cumulative percentage of income 58.7% 37.4 21.3 8.9 100% 20
How can the absence of property rights hurt poor people instead of help them? (LO17W-4)
“In perfect competition no one would get rich quick, but the economy would stagnate.” Evaluate this statement.(LO17W-2)
In divorce cases, a common debate concerns whether an advanced degree should be considered marital property in which the academic-advanced-degreeholder’s spouse should be given an
Some people argue that zoning laws are immoral. Based on your understanding of property rights, explain how they likely justify this position. (LO17W-1)
The government is a strong supporter of intellectual property rights. How does that support affect the distribution of income? Would society be better off with much weaker intellectual property
In the Bible, every 50th year is said to be a Jubilee year, in which all debts are forgiven. What would be the purpose of such a tradition, and should we establish something like it in our economy?
In what way can zoning laws be considered illegal appropriation of property by the government? Should it be legal?(Austrian)
How do you believe women’s right to own property affects domestic violence? (Feminist)
Pierre Joseph Proudhon is famous for the saying “All property is theft.” What do you think he meant by this statement? (Radical)
“If all people were paid their marginal product, there would be true justice in the economy.” Evaluate this statement. (LO17W-4)
Define human capital and explain why modern economists’use of the term makes the functional distribution of income analysis less useful. (LO17W-4)
What is the present value of a cash flow of $200 per year forever (a perpetuity), assuming: (LO17W-3)The interest rate is 18 percent.The interest rate is 12 percent.The interest rate is 6 percent.a.
The same salesperson offers you a lump sum of$20,000 in 30 years. How much should you be willing to pay? (The interest rate is still 9 percent.)(LO17W-3)
A salesperson calls you up and offers you $100 a year for life. If the interest rate is 9 percent, how much should you be willing to pay for that annuity?(LO17W-3)
Differentiate normal profits from economic profits.(LO17W-2)
A team of scientific engineers has designed a new method of generating electricity and of desalinating water. It’s a desert wind tower—a hollow cylinder 3,300 feet high. Sea water is pumped into
The U.S. Reindeer Act of 1937 gives the Inupiat and other native Alaskans exclusive rights to possess reindeer. What’s the probable effect of the law on the price of reindeer meat?On profits to
Demonstrate graphically how the price of land is determined. (LO17W-1)a. Show the effect of a tax on that land.b. Explain why that tax won’t cause the price of land to rise.c. Based on this
List the four traditional categories of income and explain why they have become less important to modern economic analysis. (LO17W-1)
More than half of agricultural workers in the United States are undocumented immigrants. Some Americans support strong enforcement of immigration laws that limit the number of workers from Central
In an article in the Journal of Human Resources titled“The Economic Reality of the Beauty Myth,” economists Susan Averett and Sanders Korenman found that family income of obese women is about 17
Interview three married female and three married male professors at your college, asking them what percentage of work in the professor’s household each adult household member does.a. Assuming your
Give four reasons why women earn less than men. Which reasons do you believe are most responsible for the wage gap?
Why is unemployment nearly twice as high among blacks as among whites? What should be done about the situation?
Why might it be inappropriate to discuss the effect of immigration policy using supply and demand analysis?
In 1997, a Dutch charity sponsored an incentive program in which teachers received prizes equal to about 30 percent of their salary if their students improved their scores on a standardized test.a.
According to economist Colin Camerer of the California Institute of Technology, many New York taxi drivers decide when to finish work for the day by setting an income goal for themselves. Once they
Some economists have argued against need-based scholarships because they work as an implicit tax on parents’salaries and hence discourage saving for college.a. If the marginal tax rate parents face
Which would you choose: selling illegal drugs at $75 an hour (20 percent chance per year of being arrested) or a$10-an-hour factory job? Why?
“Welfare laws are bad, not for society, but for the people they are meant to help.” Discuss.
In firms, the manager is assumed to hold down workers’wages in order to maximize his profits. Who holds down the pay of managers? (Institutionalist)
Radical economists argue that labor markets are governed by nonmarket forces such as discrimination as well as by the supply and demand for labor. As they see it, poverty and inequality are not
Table 17-1 provides data about starting salaries for selected professional degrees; in it you can see that PhD economists are paid less than MBAs. If economists are rational, why are they economists?
Gloria Steinem pointed out the following: “I’ve yet to be on any campus where women weren’t worried about some aspect of combining marriage, children, and a career. I’ve yet to find one where
In his book Forbidden Grounds, University of Chicago Professor Richard Epstein argues that federal employment antidiscrimination laws ought to be abolished. [Hint:Reading Westmont College economist
How might the minimum wage lead to greater racial and gender discrimination in the labor market? (Austrian)
What is the difference between a union shop and a closed shop? Which did the Taft-Hartley Act make illegal?How have more recent laws changed the role of unions? (LO17-5)
What has happened to union membership in the United States since the 1960s? (LO17-5)
In 1993 Congress passed the Family and Medical Leave Act (FMLA), which requires firms with more than 50 employees grant a 12-week unpaid leave of absence for family and medical reasons. What is the
A teen subminimum training wage law allows employers to pay teenagers less than the minimum wage. (LO17-5)a. What effect would you predict this law has, based on standard economic theory?b. In
Comparable worth laws require employers to pay the same wage scale to workers who do comparable work or have comparable training. What likely effect would these laws have on the labor market? (LO17-5)
According to a study by economists Muriel Niederle and Lise Vesterlund, women are less willing to participate in competitive environments. (LO17-4)a. What is the potential impact on the number of
A recent study reported that the average male CEO of Fortune 500 firms is 6 feet, about 2.5 inches more than the average male. Why might this be difficult to eliminate through laws that restrict
Which type of discrimination is easier to address legally—demand side or institutional? Explain your answer.(LO17-4)
a. List three types of demand discrimination.b. Which is the most difficult to eliminate? Why?c. Which is the easiest to eliminate? Why? (LO17-4)
The International Labor Organization estimates that 250 million children in developing countries between the ages of 5 and 14 are working either full- or part-time. The estimate of the percentage of
Explain each of the following phenomena using the invisible hand or social or political forces: (LO17-3)a. Firms often pay higher than market wages.b. Wages don’t fluctuate much as unemployment
Show graphically how a minimum wage can simultaneously increase employment and raise the wage rate. (LO17-3)
“Eight cents of every dollar spent at retail stores in America is spent at Walmart. With such market power, Walmart is able to name the price at which it is willing to buy goods from suppliers.”
The town of Oberlin, Ohio, has one hospital. How would you classify this market structure, and what effect will this market structure likely have on wages of nurses in Oberlin compared to a perfectly
New websites such as iFreelance.com have developed a place for companies to post projects for which freelancers can bid. What is the likely effect of this new market on market demand for freelancers?
As telecommunications improve, performers can reach larger and larger audiences. In the past, one could only perform in a concert hall; today one can perform for the entire world. How might that
Demonstrate graphically the effect of a minimum wage law. Does economic theory tell us such a law would be a bad idea? (LO17-3)
Economists Mark Blaug and Ruth Towse studied the market for economists in Britain and found that the quantity demanded was about 150 to 200 a year, and that the quantity supplied was about 300 a
The president of the United States receives an annual salary of $400,000, while some top baseball players earn more than $30 million annually.(LO17-2)a. Based on marginal productivity theory, what
List four shift factors of demand and their effect on demand.(LO17-2)
List four factors that contribute to the elasticity of labor demand. (LO17-2)
If the wage goes up 20 percent and the quantity of labor supplied increases by 5 percent, what’s the elasticity of labor supply? (LO17-1)
Using the concept of opportunity cost, explain why welfare programs might increase the number of poor. (LO17-1)
Is an increase in the marginal income tax rate reflected by a shift in the after-tax supply of labor or a movement along the supply curve when the pretax wage rate is on the vertical axis? Explain
Using the economic decision rule and opportunity cost, explain why an increase in the wage rate increases quantity of labor supplied? (LO17-1)
How is opportunity cost related to the supply of labor? (LO17-1)
Economist Edward Prescott observed that while Americans worked 5 percent fewer hours per week than the French in the 1970s, they worked 50 percent more hours per week in the early 2000s. He found
Why are social and political forces more active in the labor market than in most other markets? (LO17-1)
One of the things that is slowing the development of nanotechnology is the legal morass of patents that anyone working with new ideas must deal with. Some have argued that the government should give
Monsanto Corporation lost its U.S. patent protection for its highly successful herbicide Roundup in the year 2000.What do you suppose was Monsanto’s strategy for Roundup in the short run? In the
Soft-drink companies pay universities for the exclusive“pouring rights” to sell their products on campus. In a recent deal, UCLA signed a contract with Pepsi for$1.5 million per year limiting
The title of an article in The Wall Street Journal was“Pricing of Products Is Still an Art, Often Having Little Link to Costs.” In the article, the following cases were cited:• Vodka pricing:
Why would a company want to sacrifice short-run profits to establish market position?
In 2008, the wholesale price of the generic drug fluoxetine(the generic for Prozac) was $3.60 per 100.a. Given that the cost of dispensing this drug was about$5 to $10 per prescription, how much
Find a prescription drug that you, someone in your family, or a friend normally takes.a. What is the price you (they) pay for it?b. What is the lowest online U.S. price for that drug?(Costco is a
Author Charles Murray has argued that museums actually inhibit rather than foster the appreciation of art. He points out that the technology exists to make essentially “perfect”copies of any
True or false? Nonprofit colleges must be operating relatively efficiently.Otherwise for-profit colleges would force existing colleges out of business.Why?
Are managers and high-level company officials paid high salaries because they’re worth it to the firm, or because they’re simply extracting profit from the company to give to themselves? How
Airlines and hotels have many frequent-flyer and frequent-visitor programs in which individuals who fly the airline or stay at the hotel receive bonuses that are the equivalent of discounts.a. Give
Large corporations spend tremendous sums in an effort to influence public policy. Some corporations fund “citizens’” groups to push policies that the corporations want. Giant drug companies

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