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This figure shows the market for computer monitors in the United States. In this market, a quota is in place that strictly limits the number of computer monitors that may be imported by foreign producers. As shown in the graph, the quota is equal to QQ – QD2. Which areas of the graph (when put together) make up total deadweight loss due to the quota?
Given the production function Y = A and fixed values for the saving rate and depreciation, if productivity is growing at an average rate of three percent, and the labor input
What is the relationship between rate-of-return and bubbles. Is it correct to say that in Chinese housing market, because the rate of return is increasing, bubbles will natura
Do you find evidence of international transmission? What seems to be the main channel. Do you find support for the argument discussed in class about the impact of U.S. monetar
An empirical observation that led to the development of the supplier-induced demand hypothesis is that when the supply of physicians in a market increases, the price also incr
Suppose that in response to a foreign crisis, the government increases defense spending by $50 billion. How would the increase in defense affect the economy? How would the e
When cyclical unemployment increases and other things remain the same, ______. The U.S. labor force participation rate ______.Withdrawals move from employed to not in the labo
Discuss the minipublics (types of institutional design) presented by Archon Fung. Which one(s), in your view, provide the best avenues for deliberation and civic participation
Suppose a particular labour market were in market-clearing equilibrium. What could happen to cause equilibrium wage to fall. If all money wages rose with inflation each year
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