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In the late 1990s Thailand found that its currency, the Baht was overvalued. That is, its fundamental market value was being pushed below its stated par value. What foreign exchange intervention was required by the Thai monetary authorities to prevent its currency from falling in value? Explain the effects of this policy on the value of the Baht. Also summarize the likely effects on the Thai economy. (Use the graphical model of the short run behavior of exchange rates to show the effects of this intervention.) Why was this effort eventually unsuccessful inducing the Thai government to abandon its fixed exchange rate regime?
Consider a firm’s production decision in both the short-run and long-run. Explain what type of input costs might be fixed in the short-run and which might be variable in the long-run. Provide one example of each.
Picture Assume the market is in equilibrium in the graph shown at demand D and supply S1. If the supply curve shifts to S2, and a new equilibrium is reached. Equilibrium quantity increase from 4 to 4.5 units.
Suppose you are given the following Total Product Function: Q=100K^3/2 L^4/2 M^4/7,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Take the log of the above func..
Suppose a worker receives an 8% increase in wages by having one more year of education in the first three years of schooling, 6% per year in the next five years, and 4% per year thereafter. How large will be the wage of a worker who has 10 years of e..
President Barack Obama's quest to raise the federal minimum wage to $10.10 an hour would eliminate about 500,000 jobs by 2016 but increase pay for millions of American's and lift nearly a million out of poverty, a Congressional Budget Office report f..
Explain why the price elasticity of demand is negative. What would the price elasticity of demand be for a “prestige good”, one for which quantity purchased increases as price increases? How do you reconcile these two statements?
Using the general model of the monetary approach to exchange rate determination, consider the following scenario: Assume that real income grows at a rate of 3% in both the home country and the foreign country and assume the money supply grows at a ra..
Eddie’s Precision Machine Shop is insured for $700,000. The present yearly insurance premium is $1.00 per $100 of coverage. A sprinkler system with an estimated life of 20 years and no salvage value can be installed for $50,000. Annual maintenance co..
A bill was recently introduced in the US Congress to limit greenhouse gas emissions from electricity generation and require electricity producers to generate a minimum percentage of power using renewable fuels, with some emission rights to be auction..
what are the similarities and differences between horizontal and vertical
Elucidate the concept of the multiplier, and explain the role of the marginal propensity to consume in determining the size of the multiplier.
Explain how did Flextronics' industrial park strategy enable the company to respond to national changes in relative factor costs.
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