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Suppose someone stated that the Heckscher-Ohlin model is best-suited for explaining trade between developed countries and developing countries, while newer theories such as those of Linder and Krugman are best-suited for explaining trade among developed countries. Would you agree with this observation? Why or why not?
If government imposes a $5 specific tax to be collected from sellers, what is the price consumers will pay. Explain how much tax revenue is collected.
There are two distinct sectors: taxidermists (X) and tap dancers (T). It is surprising that there is complete labor mobility between the two sectors. There are 200 equally talented workers who supply their labor inelastically.
In the argument for why perfect competition is allocatively efficient, the price that people are willing to pay represents the gains to society and the marginal cost to the firm represents the costs to society. Can you think of some social costs or i..
How are customer expectations today different from customer expectations of say 10-15 years ago? What are some reasons that contribute to that change's expectations regarding the level of customer service received?
The lag between the time the need for physical action is recognized and the time action is taken is referred to as the
When property is disposed of, what factors influence the amount of the deductible loss? Define. What is the importance, if any, of passive activity? Compare and contrast the computational rules for deducting casualty losses on personal-use property w..
1. explain the difference between the stackelburg and the cournot duopoly models. outline the process by which a
Each firm can monitor the other's price very closely and can respond instantly
Suppose that there are 150 houses in the community with 2,000 square feet (providing services that rent for $10,000 per year). The interest rate is 4% and with proper maintenance all of the houses will last forever. In an election the population deci..
Compare how equilibrium is attained in the market for goods and services versus the market for real-money balances. (Hint: Explain what force moves the market back to equilibrium if the market is initially in disequilibrium).
Caught up in broad social and economic disaster that swept the Mediterranean basin during the twelfth century BCE, what seems to have happened to the civilization of people.
What are some of the unintended consequences of efforts to regulate the illicit global economy? How can states more effectively reduce the negative consequences of black markets?
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