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If the government reduced spending on everything, except military spending, the deficit would be reduced stimulating the economy and creating full employment. How is this true?
Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Who has the comparative advantage in the production of shirts? What about for computers?
How does the United States trade deficit, gross domestic product, the employment rate, and the inflation rate impact the economy and relate to the business cycle? Why is it difficult to predict changes in the business cycle?
Explain the concept of countertrade. When does counter trade make sense? How does counter trade help solve the nonconvertability problem?
Country X has an $8000 billion GDP and a population of 200 million. Country Y has a $6000 billion GDP and a population of 150 million. Which of the following is true? Full employment is: If the GDP deflator is now 125, we may conclude that since the ..
The South American cocaine industry consists of several "families" who obtain the raw material, refine it, and distribute it to the U.S. There are only about 3 large "families", but there are several small "families". What market structure does this ..
Tipping theory, though not new, is in the news lately, in reference to our "recession" (some say "depression"), and how we can get ourselves out of it, whatever we call it. What is tipping theory? If you've never heard of it, you may research the top..
You are the manager of a firm that receives revenues of $60,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1, and the cross-price elasticity of demand between product Y and X is 1..
q1. what effective value is facing japan airlines for the purchase of a boeing 747 if boeings aircraft values in
q1. walker inc. is trying to determine its price debt. firm has a debt issue outstanding with 15 years to maturity that
What are the differences between economic and accounting concepts of cost? T or F If a firm is making economic profits, then it must also be making normal profits. How are prices determined under perfect competition?
We know that Keynes and Minsky both had a multipoint description of the trade, or business, cycle with Minsky being more detailed than Keynes. Using Keynes' elements of the trade cycle as major bullet points, as-sign Minsky's elements of the business..
In a perfectly competitive market, each firm produces at a quantity where price is set
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