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Nowadays, China drives the global economy. So if the trade barrier is reduced, the Chinese economy will go down and affects the economy of the whole world. Do you agree or disagree with this argument
Evaluate the progress and prospects of integration between two established regional groupings (NAFTA, ASEAN, CEFTA, Andean Pact, CIS, APEC, etc.). The written comparison should synthesize the theories of international trade and finance to evaluate th..
It has been asserted that the social security system in the United States is virtually bankrupt and will soon be unable to sustain itself without action being taken. Explain the problems as they are now and propose a strategy that will allow the soci..
Suppose that the money demand function is (M/P)d = 800 - 50r, where r is interest rate in percent. The money supply M is 2,000 and the price level P is fixed at 5. a. Graph the supply and demand for real money balances. b. What is equilibrium interes..
Noah and Naomi can produce garden benches, garden chairs or both. They are price takers in both markets. What is the profit-maximizing sales quantities of benches and chairs?
Assume that an employer believes that the “efficiency” (e) it can get from a particular worker, as a function of the hourly wage (w), is given by function e = –0.125w + 0.15w2 – 0.005w3, at least up to a wage of 30. Which wage gives the highest ratio..
A widget manufacturer has an infinitely substitutable production function of the form: q=4k+3L A.) Graph the isoquant maps for q=24, q=48, and q=60. What is the RTS along these isoquants? If the wage rate (W) is $1 and the rental rate on capital (R) ..
In a competitive labor market, the equilibrium wage rate and the number of workers employed are determined by labor supply and labor demand. Firms maximize profit where the MRP = MRC and hence hire labor up to this point. What do you think could be t..
Once the economy reaches its potential output level, and the AD Curve, the SAS Curve, and the LAS Curve are all intersecting at the same point:
As you are planning the annual audit of Norton Corporation, you note that the company has a number of user-operated computers in use in various locations. One of the machines has been installed in the stores department, which has the responsibility f..
Suppose to have a linear programming problem. It is known from the optimal solution that allowable increase of the cost coefficient c1 is equal to 20. Initial value of c1 is 50. If we change the initial value of c1 to 80 the value of objective functi..
q. under what elasticity conditions would the following be trueincreasing the minimum wage will result in a decrease in
Elucidate the marginal revenue from the fourth worker
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