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The war in Iraq comes to an end. Iran and Afghanistan lay pipes to generatemore oil. The United States and Venezuela enter into an era of friendship. Which of the following correctly captures the effect of this change on the market forgasoline?
Suppose demand for a good is QD = 50 - P and supply is QS = -10 + P. How much is the producer surplus? How much is consumer surplus?
Firms A and B are the only firms in the market for widgets. Each firm can choose between cooperating and fighting. If both firms choose to cooperate, each gets a profit of 10. If both firms choose to fight, each gets a profit of 5. Suppose firms choo..
Given two countries (A and B) and two goods (X and Y) model with identical endowments: Draw the PPF for Country A that displays increasing opportunity costs and also shows that country A that displays increasing opportunity costs and also shows that ..
For a linear (inverse) demand function, increases in output will cause total revenue to increase when marginal revenue is:
Harold is going to loan Maude $50,000 using a promissory note and a mortgage. Which one is the "mortgagor"? Which one is the "mortgagee"? Why is a mortgage needed if you already have a promissory note? The word "mortgage" can be used in two different..
The Townsville City Council is considering a proposal by the mayor to construct a recreational facility at a cost of $1.0 million. The facility is expected to have a useful life of 30 years during which operating costs are expected to average $100,00..
Monetary cooperation: Please compare the advantages and difficulties for flexible and for fixed exchange rates.
Suppose the nation of Sugarland consists of 50,000 households, 10 of whom are sugar producers. Arguing that the sugar industry is vital to the national economy, sugar producers propose an import tariff. The loss in consumer surplus due to the tariff ..
Review the normal profiles for children ages 4 months to 2-years-old and post responses to the following: Based upon the five assessment categories of motor, play, adaptive, social, and language, identify possible environmental hazards for children u..
Each year, public schools are rewarded with bigger budgets for achieving a rating of "excellent” or "recommended” and are punished for rating "needs improvement.” These ratings are based on meeting thresholds on a broad set of measures such as attend..
A person can chose to work any amount from 0 to 52 weeks per year at a wage of $1000 per week. Draw her annual budget constraint, representing total annual consumption vs annual weeks of leisure.
Derive and graph foreign export supply curve and find the price that would prevail in Foreign in the absence of trade. Allow Foreign and Home to trade with each other. Graph equilibrium under free trade. What is the world price and the volume of trad..
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