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Trade and labor mobility
Suppose that the U.S. dollars-Mexican pesos exchange rate is fixed by the U.S. and Mexican governments. Assume also that labor is mobile between the United States and Mexico due to low transportation costs.
Which of the following situations is likely to happen as a result of a simultaneous increase in the demand for U.S. goods and decrease in the demand for Mexican goods? (pick one)-
--The Mexican unemployment rate increases, and the country undergoes bad economic times for a sustained period.
--The U.S. unemployment rate increases, and the country undergoes bad economic times for a sustained period.
--The Mexican unemployment rate rises at first, but it soon drops as unemployed Mexicans move to the United States for employment.
--The Mexican unemployment rate rises at first, but then it drops as Mexican pesos depreciate against U.S. dollars.
Explain why firms should not shut down in the short run until price falls below average variable cost. 3. Suppose your economics professor publicly states that she grades on a curve
Firm C&D is a monopolist both in the US market and in the international market. The demand curve for the US market is QUS = 10 − PUS and the demand curve for the international market is QI =20−PI. The firm’s cost function is C(Q)=2Q+2. Suppose the fi..
Elucidate the drastic change also Illustrate what this meant for the U.S. population.
Assuming that your interest rate, i, is equal to 14% annually, what would be your maximum offer (purchase price) on this machine?
The European Economic Community was founded with the Treaty of Rome. Please name the ten most important milestones between 1957 and the EU enlargement of 2008. The EU is the biggest common market worldwide. Please name the most important facts that d..
Describe the effects of price floor and price ceiling? Does the government play an avctive or passive role in setting price floors and ceilings? Do you think that this helps or hinders the consumer?
Joe can make apple pie at a lower opportunity cost than Sandy but Sandy can make more apple pies per day than Joe.
The "law of one price" applies to all goods, except those that:
A CFA charterholder is the Fund Manager for a non-profit organization. During a presentation regarding the restructuring of their investment portfolio's asset allocation, the Head of the Finance Committee questions the manager. As part of his resp..
Consider two communities. In one community, ten families have incomes of $100,000 each and ten families have incomes of $20,000 each. In the other community, ten families have incomes of $200,000 each ten families have incomes of $22,000 each. In wh..
The main liability on the Federal Reserve's balance sheet is. Third Bank has reserves of $12.3 million and transaction accounts of $115 million. If required reserves are 10 percent of transactions accounts, Third Bank has excess reserves of
Suppose the demand and supply for wine within the U.S. is: Suppose the demand and supply for wine in the rest of the world (R.O.W.) is: Calculate the deadweight loss if the U.S. imposes a tariff of 25 cents per bottle of imported wine.
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