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Why can it be suggested that the fact that the ratio of skilled labor/unskilled labor has risen in almost all U.S. industries in recent years (and not just in traded goods industries) lends support to the view that increased inequality in the United States is not primarily due to increased Heckscher-Ohlin-type trade? How might you counter this suggestion?
Mitchell's income is $150, the price of X is $4, and the price of Y is $2. Given these prices and income, Mitchell buys 20 units of X and 35 units of Y. Call this combination of X and Y bundle J. At bundle J, Mitchell's MRS is 1. Given these prices a..
Tim is offered two gambles. With gamble A, he either gains $2 or loses $1 with a 50 percent probability. With gamble B, he either gains $3 or loses $2 with a 50 percent probability. Tim prefers gamble B to gamble A. What can we conclude?
Explain the steps that would be used to conduct a Benefit-Cost Analysis of a government policy to alleviate the problem.
Consider the following simple model with investment and government spending exogenous:
Describe a market situation in which the operating company faces economic difficulties and the need to cut costs. What cost cutting strategies might the operating company use to remain profitable? What would be the benefits and drawbacks of each?
q.listing different orderings and coalitions is not going to work for this problem because there are too many
A large and fast growing suburb of Rochester is considering expanding the size of its community park system by purchasing over 500 acres of undeveloped land located near a current park site. Describe four different approaches to natural resource valu..
What is Nick’s MRS of swimming in terms of basketball? Do his indifference curves exhibit diminishing MRS or constant MRS?
Consider a simple economy that produces only pies. The following table contains information on the economy's money supply, velocity of money, price level, and output. For example, in 2011, the money supply was $320, the price of a pie was $8.00, and ..
Explicates how every of these public polices involves demand for cigarettes by teenagers.
If David also Ellen live in rent-controlled apartments, illustrate what is the equilibrium cost for the non-rent-controlled apartments.
Assume some pencil workers switch to jobs in the growing computer industry
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