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The exchange rate between the U.S. and Japan is floating, e.g. determined by the market. Suppose the U.S. government imposes import quotas on Japanese products. Answer the following questions:
a. The quotas increase spending on domestic products. How does this affect the U.S. macro economy? Explain.
b. What affect do the changes in the macro economy described by you in part a. have on the demand for U.S. imports from Japan? E.g. if the initial reduction in imports due to quota is 25 B, is the final reduction larger, smaller, or the same? Explain.
c. Explain what effect the quota will have on the demand for the yen and so the value of the yen relative price of the U.S. dollar. What does this change do to the U.S. demand for imports from Japan?
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What is the implication for the real exchange rate if the PPP condition holds? Under what circumstances does the PPP theory explain how exchange rates are determined why is it not completely accurate all the time?
Suppose that in the short run the capital stock is fixed at 100, write down an expression for. The total physical product of labor. The average physical product of labor.
Calculate the NPV of a new factory turbine installation given the following data. Show work:
If the banking system has a required reserve ratio of 10%, then the money multiplier is: ______ If Bank A receives a $10,000 deposit and the reserve requirement is 10%, how much does Bank A have available to loan out? __________
If the government imposes a tax on a competitive market with no externalities, then
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From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $14 million in withdrawals from other banks’ ATM machines. what would be the n..
Each of the players chooses an (integer) amount between $180 and $300. Both players receive the lower amount. Five dollars are transferred from the player who chose the larger amount to the player who chose the smaller one. Which strategies survive r..
Interpret the following graph showing the potential changes in supply of money compared to the demand for money. The demand for money is represented by line MD and the initial supply of money is represented by line MS. If there is no change in the in..
Who were the stakeholders primary also secondary most affected by Google's original decision to self-censor in China.
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