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Developing countries often claim that growth and trade have left them no better off or perhaps worse off. How might you explain this result theoretically? Could this result obtain if the countries tended to be relatively small? Why or why not?
The recent drop in the price of gasoline and oil has had several effects on the US economy. What pricing model we have considered best represents the market for oil? Defend your answer. Use your model to explain how a moratorium on fracking in the US..
VetPharm has historically produced and sold drugs for animals; however, one of its products developed for animal use has recently been approved for a similar use in humans. Market research has revealed that at the current per dose price, the elastici..
Illustrate what would be the size of the resulting deadweight loss relative to the competitive outcome.
Explain why domestic producers who supply a good that competes with imports would prefer an import-substitution approach to trade rather than an export promotion approach. Which policy would domestic consumers prefer and why.
Determine if each of the following value functions is loss averse.
For each of the following, predict the effects on the equilibrium levels of aggregate output (Y) and the interest rate (r). Be sure you make predictions for both Y and r! During 2000, the Federal Reserve was tightening monetary policy in an attempt t..
In the short run, when there is an increase in aggregate demand:
Be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives
Illustrate what do you think are the defining characters of a science. does the study of the economy have these characteristics.
The Port Authorities of New York and New Jersey estimate that the annual net revenues for the George Washington Bridge (GWB) will total $13M by the end of this year (t=1). What is the annual amount the Port Authorities should expect to spend for a fi..
What is the difference between electronic commerce and electronic business according to Becker and Sampson? Briefly compare B2C, B2B, and B2G electronic commerce?
Hamlet will trade two pizzas for one six-pack for beer and be equally happy. At the same time, Ophelia will gladly exchange two of her six-packs for six pizzas. Is the allocation of beer and pizza Pareto efficient? Illustrate using an, Edge worth Box..
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