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As a consumer, describe your benefits regarding the availability of a wide range of low-cost, high-quality goods and services which are produced in other countries, such as, cell phones and flat-screen televisions.
As a voter, describe your concerns regarding international trade, such as the politics of free trade versus protection. Do you think tariffs or quotas should be imposed on imported goods to provide U.S. producers an “even playing field”? Before you advocate for tariffs and quotas think how other countries will retaliate.
Finally, as an employee, describe your concerns regarding the loss of U.S. jobs, since international trade spurs job offshoring, and it also provides freer access to U.S. markets by foreign producers.
Illustrate what is the dollar value of the deadweight loss when output level is produced? Illustrate what is the dollar value of the total surplus when output level is produced
GDP is the major economic variable used to measure the health of the economy; indeed, as we learn, recessions are defined based on the direction of change in GDP. GDP is a difficult measure to construct, as certain transactions and expenditures are n..
Suppose that the investment demand curve in a certain economy is such that investment declines by $100 billion for every 1 percentage point increase in the real interest rate. Also, suppose that the investment demand curve shifts rightward by $150 bi..
What effect do increased regulations have upon a country's PPF and where the economy produces on the PPF? Do regulations cause the PPF to shift?
Indicate the different ways an individual could forecast his or her weight 10 years from now. Do these methods change based upon whether the individual is 5, 14, 24, or 45 years old? If so why
problem set one1-price-elasticity of
Your employer allows you to purchase a parking permit with “pretax dollars” – that is, you don’t have to pay taxes on the money that you used to purchase this permit. Does allowing some people to purchase certain goods or services using pretax dollar..
The positively-sloped part of the long-run average total cost curve is due to which of the following?
In a given market at a given time, demand for a service increases and supply of that service decreases. (That is, demand shifts rightward while supply shifts leftward.) Analyze the impact of these changes on equilibrium price and quantity. Make sure ..
In the aftermath of 'The Great Recession', how would you describe the economic growth scenario for the U.S. economy? Explain your answer. Is economic growth impacted by prevailing employment/unemployment levels in the economy? Explain. Why is economi..
The U.S. Securities and Exchange Commission (SEC) roadmap issued in 2008 may eventually move U.S. issuers to report under International Financial Reporting Standards (IFRS). Consider the following critical questions of such a move:
The impact of labor migration on patterns of international trade depends on the characteristics of the labor migrants. In which cases might migration expand trade? World income? In which cases might it reduce trade and world income?
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