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Suppose that there are three goods (software, shirts, wheat) and three factors (skilled labor, unskilled labor, land). Software is intensive in skilled labor, shirts are intensive in unskilled labor, and wheat is intensive in land. The US is land-abundant and skilled-labor-abundant relative to the rest of the world.
Discuss the effects of moving from autarky to free trade on:
The outputs of the three goods in the US;
The distribution of income in the US (which resource(s) experience an increase in income)
The incentives to get a university education;
The degree of disparity in the income distribution (the ratio of the incomes of the high income workers to the incomes of the low income workers).
Given table of data comprising real GDP and its components over a number of years, compute compound annual percentage changes in real GDP (economic growth) and compute the shares in real GDP of consumption.
calculate The inflation rate between year 1 and year 2 is - calculate The inflation rate between year 2 and year 3.
Suppose 2.5 million tons of bananas were imported in 2006 but then the tariff decreased to €152 a ton in 2007 and as a result, 3 million tons were imported in 2007. What is the tariff revenue in 2007?
Explain how would you justify the long-term nature of your contract with CGI Group.
The price elasticity of demand is the: a) ratio of the change in price to the change in quantity demanded.
Update the Microsoft Project file you created in Assignment: VoIP Part 2 (Work Breakdown Structure) with the following changes: Set property values to denote progress in at least fifteen (15) of the line items.
Your company is considering an investment project that will generate after-tax cash flows of $1,000 per year for the next three years (and then be scrapped, with no salvage value).
If I own 1,000 shares of company ABC, which yields $.50 per share. That would equal to $500. So, my question is this, when dealing with stocks that pay dividend on a monthly basis, could I expect to receive those $500 every month, or would it be s..
Immigration is a major topic of concern in today's economy. What are the possible problems and solutions for these concerns? What could happen to the U.S. labor markets if immigration is not controlled?
This is classified as an unintended consequence of these types of assistance. How does this affect the incentive to work as opposed to not work? Do you consider this to be fair?
Assume that the equation for demand for bread at a small bakery is Qd = 60 - 10Pb + 3Y If Y is 10 and Pf is $1, solve mathematically for equilibrium Q and Pb.
In his book, Rewarding Work: How to Restore Participating and Self-Support to Free Enterprise (Harvard University Press, 197), economist Edmund Phelps offers this plan to help the working poor: apply tax credits for "qualified employers" or hire d..
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