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In the latter half of 2012, the worldwide musical hit Gangnam Style by South Korean K-pop singer Psy, contributed to a boost in tourism to South Korea ("Gangnam Brings Fans - and Tourism Revenue - to Korea," CNBC.com, January 23, 2013). Record numbers of tourists from China, Japan, and even the United States wanting to see the Gangnam district in person helped South Korea's economy in 2012. How does an increase in South Korean tourism affect the foreign exchange market for the South Korean won (its currency)? Describe other situations that had a similar impact on a country's foreign exchange market?
Choose two countries one with a high GDP per capita and one with a low GDP per capita. Then choose one of the development indicators we discussed in class and find data on the internet describing the GDP per capita and the indicator you choose.
Hubert's Copy Services is in perfect competition. Hubert currently charges 10 cents per page, which is the going market price. He thinks that he can increase his profit by raising the price. Is it possible? Why or why not?
What would be the consumer buying response to Coca-Cola if the price of Pepsi doubled? If the prices of Coca-Cola and Pepsi remained constant, what would be the typical buying response to these products if consumer income was reduced by 30%? Suppose ..
The Shift of American Health Insurance Policies - How the Changes Affect Our Economy, What health program is better financially and morally?
The central bank of Country A takes no stabilizing-policy actions. After the short-run impacts of the adverse supply shock become apparent, the central bank of Country B increases the money supply to return the economy to full employment.
Mylie’s total utility from singing the same song over and over is 50 utils after one repetition, 90 utils after two repetitions, 70 utils after three repetitions
Why might bargaining break down when parties negotiate to remedy a market failure and its associated externality?
Raising chickens requires several types of feed, such as corn and soy meal. Consider a farm in the former Soviet Union. Try to describe how dicisions on the number of chickens to be raised, and the amount of each feed to use in raising them, were ..
What a Java® applet is The URL of a Java® applet you found Why you feel this Java® applet enhances or detracts from the website
the grocery store next door provide an offers to double coupon night for Senior Citizens.
Suppose two countries A and D use many inputs. Country A exports tractors and imports televisions. Assuming there are no economies of scale, which of the following statements is true?
If a monopolist is creating a level of output at which demand is inelastic and the firm is not maximizing profits.
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