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A tariff is a tax on imports. Use the model of the excise tax to explain why domestic firms ask their government to "protect" them with a tariff. Consider the winners and losers from the tariff. Why do economists tend to think that tariffs are a bad idea?
What did you add more specifics and associated reasons why you decided to recommend the course of action you selected and how you believe the course of action you selected might best be carried out.
Classify the following Wall Street Journal articles as involving macroeconomic or microeconomic issues based on their titles:
The fact that since 1973 blacks have never had a lower unemployment rate than Hispanics, who in turn have never had a lower unemployment rate than whites is evidence of a fairly rigid what?
Assume the operations manager at the company you own prefers to put in low effort rather than high effort. In order the manager to exert high effort, his expected financial gain must be at least $60,000 higher than if he puts in low effort. Discuss t..
List several ways that people and businesses in the green movement are participating.
What responsibility do we have as a society to help the elderly and disabled? What potential changes could the federal government enact to help the viability of both programs? How can the Social Security program be fixed to ensure a viable future for..
If the current minimum wage is $7.50 an hour, there are 10 million workers who earn the minimum wage, and the elasticity of demand for low skilled labor is -0.2.
The government wants to make medicare benefits available to more people, but to achieve this goal, it needs to make cuts in the existing medicare budget. The two areas where they are considering cuts are non-essential elective surgery and 6-12 month ..
Increase in demand and increase in supply will lead to?:
The demand for cigarettes is price inelastic, but not perfectly inelastic. The supply of cigarettes is elastic, but not perfectly elastic. If there were no price controls or other complicating regulations, what would a model of supply and demand ther..
During large flu outbreaks (Think H1N1 in 2009), the demand for hand sanitizer usually increases dramatically (3-4 fold!). When this happens, should Johnson & Johnson increase production of their Purell hand sanitizer? Should it invest in doubling pr..
What is dual cut off method of the multidimensional poverty index? based on the three case studies of ' portfolio of the poor' (2009) did you find any poor of Bangladesh, india and south Afirca who suffer from any dimension of poverty? if yes, explai..
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