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In order to protect consumers, the United States has taken action to restrict the imports of certain Chinese goods, such as toys that contain lead and seafood that does not meet certain health standards. Some say that this is a double standard. If the United States is willing to restrict goods on these grounds, shouldn’t there be restrictions on the import of goods produced with badly paid labor? Is this argument valid or invalid? Why? Explain a political argument for both sides of this argument.
What might the likely effect be for the world economy and particularly the United States economy if prices of all goods from China increased? How might this affect your disposable income?
Wong subscribes to the 6M plan and uses 150 hours a month. Suppose that Wong's demand curve is a straight line such that if the price of access were HK$20 per hour or higher, she would buy nothing. Draw her demand curve, and calculate her buyer surpl..
What is the difference between relative factor endowments and relative factor intensities? What does the Hecksher-Ohlin theorem say about home versus foreign countries while they remain in autarky?
Find the present value of this project by using the Adjusted Present Value (APV) formula
Because when a patent ends and generic drugs are introduced there is downward pressure on price, the makers of the brand name drug will:
Illustrate what role did the policies of various governments play in influencing the international expansion strategies of both McDonald's also Wal-Mart.
If a firm's marginal revenue from its 100th unit of output is $50 and the marginal cost from its 100th unit of output is $45, then in the short run this firm should:
When the Euro was introduced in 1999, the exchange rate was $1.19 per euro. In March 2011, the exchange rate was $1.42 per euro. Was this change in the dollar-euro exchange rate good news or bad news for U.S. firms exporting goods and services to Eur..
What law (common law, UCC, CIGS) governs the contract? WHY? Contract between A, a merchant and B, for sales of widgets. Contract between A, a US merchant and B, a chinese merchant for paiting of building that provides California law applies
Discuss the short run and long run implications of the explanation for the aggregate economy.
Suppose you are told that price of Toyotas' has increased from last year as has the number bought and sold. Is this an exception of the law of demand, or has there been a change in demand or supply that could account for it.
Future costs as well as future payments have present values. For example, some researchers say that global warming could cost $1 trillion per year in 100 years. Using the present value formula and an interest rate r = 5%, one researcher (William Nord..
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