Nationalu ECO607 Week four Homework 2022

Answer question number 2 from chapter 14, question numbers 3 and 6 from chapter 5 and question number 1 from chapter 4A. Submit your answer in a Word document by the end of Saturday. Other questions will not be graded, but review them for the Final Exam.

Chapter 14 and Appendix 4A

Chapter 4A: Applications of Demand and Supply

1. What are the 5 major functions of the US government in our economy? Provide real instances for each one.

2. Briefly explain the main purpose of the following antitrust laws: Sherman Act, Clayton Act, Federal Trade Commission Act, Robinson-Patman Act, Celler-Kefauver Act and Hart-Scott-Rodino Act.

3. How the antitrust policy was played against Microsoft in the US and Europe from 1999 to 2007?

4. Briefly explain with your own real examples the two types of externalities

5. How can local governments use quota restrictions, taxes and marketable permits to reduce the consumption of cigarettes because of its negative effect on non-smokers?

6. How the Coase theorem could be applied to the previous smoking situation?

7. What are the main elements of selling products and services to the US government?

8. What are the reasons and incentives to engage in merger activities?

1. Explain Price Floor  and Price Ceiling with examples.

2. What are the functions of Rental prices?

3.  Who gains and who loses from Rent Control?

4.  Explain Quantity Restrictions with an example?

Chapter 5:Demand Estimation and Forecasting

Why do we need a good data?

What are regression and regression analysis?

What is the difference between a simple regression equation and a multiple regression equation?

What are the two types of data used in regression analysis?

What does the coefficient of determination measure?

For what are the t-test and F-test used for?

What is forecasting and what would a firm need to forecast?

What are the conditions for a good forecast?

What is qualitative forecasting?

What is quantitative forecasting?

What is trend analysis?

What is exponential smoothing?

What is the delphi method?

How economic indicators can help managers? (Consider Table 5.4)