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Economics
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30 Jan 2018

Do you think governments should step in and help an economy move to potential or are "markets" capable of fixing themselves? Carefully consider the impact of falling prices.

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Elin Hessel
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31 Jan 2018
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Related questions

If we compare the two deepest recessions in history, the Great Depression and the recession of 2009, they both had a huge impact on the economy, but both of them were handled very differently by governments. The policies governing trade after the 2009 recession were more forward-looking with a clearer view of how trade works and what needed to be done to restart the economy.

How do you think the United States, Europe, and emerging markets such as China, India, and Russia handled the recent recession? What were some of the policies enacted to help the global trade and global economy?

The classical model uses the assumption that

a. interest rates are not flexible.

b. monopoly is widespread in the economy.

c. all wages and prices are flexible.

d. economic markets are fragile and do not tend to move towards an equilibrium.

 

1.Go to the Justice Department's web page (www.usdoj.gov/) and look under Antitrust Division to find an interesting case of price-fixing. Analyze and write a summary of the case.

2. Cartels like OPEC collude to raise prices and restrict production in the same way as a monopoly. Firms or countries form cartels in an attempt to stabilize volatile markets, so as to reduce the risks inherent in these markets for investment and product development. There are legal restrictions on such collusion in most countries. However, some economists say that Pro Sports is a cartel. Do you agree? Explain.

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