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Are you for or against free trade? Are you for or against NAFTA? What is the economic basis for trade? Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource differences. What are some examples of goods that the United States has comparative advantage in producing? Take a look at the tag of the shirt/dress/pants that you are wearing today. Where was it made? Anyone wearing Made in U.S.A. items of clothing today? We sometimes hear people say Buy American. Why don't we? What is the basis of international trade? What are the benefits and the costs? Under what conditions would you advocate for trade restrictions?
Consider the market for electricity. Suppose demand (in megawatt hours) is given by Q=50-p and that the marginal private cost of generating electricity is $10 per megawatt hour (p is the same units). Suppose further that smoke is generated in the ..
Government play in affecting the supply also demand of a key commodity such as gasoline or electricity?
How were slaves involved in the New England economy in the 17th and 18th centuries and biotech is just one of several up and coming industries in Massachusetts. Give some reasons that Biotech has clustered here and what are some other industries t..
Explain why a weighted average is more suitable than an unweighted average when trying to measure price increases. B. (i) A well known annual book was priced at £17 when published in December 2005.
A depreciation of a countrys currency is likely to:a. leave GDP unaffected because it would cause an equal changein imports and exportsb. increase its GDPc. decrease its GDPd. increase consumption, but
Analyze the history of changes in GDP, savings, investment, real interest rates, and unemployment and compare to forecast for the next five years.
When the Soviet Union, which had been a command economy, broke apart, an official of the new Russian government called an official of the American government and asked" "Who is in charge of bread distribution?"
An expenditure of $20000 is made to modifya material handling system.this modification will result 1st year saving of $2000,2nd year saving $4000 and a saving of $5000 per year thereafter.How many years the system last if a 18% return on investment i..
economists sometimes use concentration ratios to evaluate whether industries are oligopolies. In this application, you will make your own determination using the most recent data available. You will also discuss the merits and disadvantages of oligop..
An interesting paradox called the "Paradox of Thrift" arises when households become concern about their future and attempt to increase their saving. As a consequence of such action the overall economy will suffer. Explain. Do you agree with thi..
Suppose that in 2012, the following prevails in the Republic of Askil; Suppose that households consume 75% of their income and save 25% of their income.
What is a financial system, and why would a country with a well-developed and fully functional financial system be better off than a country without it?
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