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The government of a small open economy is considering the following policy changes. Evaluate them and show the expected outcomes (sketch graphs to help visualize the changes).
a) The trade minister wishes to restrict imports through quotas in order to protect local industries from international competition. How will this affect the exchange rate? The trade balance?
b) The trade minister decides to open up the economy to allow more imports. How will this affect the exchange rate? The trade balance?
c) What would be the effect of increased government spending? How would it affect the real interest rate? Savings? Net Export? How about the exchange rate?
elling price of another product Y in dollars per unit. The inverse delivery curve. Conclude whether X also Y are substitutes or complements.
In the typical signalling model, it is assumed that the costs of acquiring an education are higher for low-ability than for high-ability workers. Suppose that the government steps in and subsidizes low-ability workers for the higher costs they incur ..
1.name 5 stylized facts about the business cycle.2. rank order these three ideas from most optimistic about how a
An example of an exclusive union would be:
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.)? What fiscal policies and monetary policies would be appropriate at this time?
When the price of good X is 100, the quantity demanded is 100. Calculate the relevant elasticities for the following changes: When the price of X changes to 50, the quantity demanded rises to 250. When the price of Y changes from 5 to 10, the quantit..
Show each of the following events on a bank’s T-account:
If the demand elasticity is -2.42 and has a 10 percent decrease in price, what would happen to the quantity demanded. 1. decrease by 2.4 percent 2. increase by 24.2 percent 3. decrease by 24.2 percent 4. increase by 2.4 percent
q.your lecturer used to work at a nationwide chain of retail swimming pool stores which pays its sales force a bonus
Explain how are money cost and opportunity cost related to each other. If markets function well, they are closely related. They are always identical in any economic system.
An asset costs $20,000 and is in the 5 year property class. O&M costs are $2,000 the first year, $3,000 the second year, $4,000 the third year, etc. Salvage values are $12,000 after one year, $9,000 after 2 years, $6,000 after 3 years, and $4,000 the..
Suppose that the Fed intervenes in the foreign exchange market to lower the value of the dollar. Assuming that domestic and foreign assets are perfect substitutes, use T accounts of the Fed to show how an unsterilized foreign-exchange intervention di..
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