Answer Each Question…..
WK 3 – Discussion Topic 1
Explain basic economics.
WK 3- Discussion Topic 2
Explain what capitalism is and how free markets work.
WK 3 – Discussion Topic 3
Compare socialism and communism
WK 3 – Discussion Topic 4
Analyze the trend toward mixed economies
WK 3 – Discussion Topic 5
Describe the economic system of the United States, including the significance of key economic indicators (especially GDP), productivity, and the business cycle.
WK 3 – Discussion Topic 6
Contrast fiscal policy and monetary policy, and explain how each affects the economy.
outline how the compensating wage differential model can be applied to estimate the value of a statistical life,
discuss the major challenges which economist when attempting to estimate this value.
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