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1.Are you for or against free trade? Are you for or against NAFTA? What is the economic basis for trade? Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource differences. What are some examples of goods that the U.S. has comparative advantage in producing? Take a look at the tag of the shirt/dress/pants you are wearing today. Where was it made? Anyone wearing "Made in America" items of clothing today? We sometimes hear people say "Buy American." Why don't we? What is the basis of international trade? What are the benefits and the costs? Under what conditions would you advocate for trade restrictions?2. What is happening to the value of the U.S. dollar these days? What causes the value of the U.S. dollar to rise or fall? Who demands U.S. dollar? Who supplies U.S. dollar? When we purchase German products, does our demand for euro go up or down? What are freely floating exchange rates all about, and how do they work? How can the falling U.S. dollar impact your travel expenses? Why would a cheap dollar relative to other nations' currencies be good or bad for U.S. trade?
Elucidate how cost-push inflation might prompt policymakers to take actions that subsequently cause demand-pull inflation.
Assume that price level is fixed in the short run so that the economy does not reach general equilibrium immediately after a change in thee economy.
Branding Iron Products a specialty steel fabricator operates a plant in the town of West Star, Texas. The Town has grown rapidly because of recent discoveries of oil and gas in the area. Many of the new residents have expressed concern at the amount ..
If the government imposes consumption tax on the good that raised prices by $1, by how much will the consumer's surplus change? Show the relationship between EV, CV, and consumer surplus using compensated and uncompensated demand curves. If you your..
Determine the GDP price index
Is the value of a house built in 2000 and resold in 2011 included in 2011 GDP? Why or why not? Would the commissions for the real estate agent who helped buy (and sell) the house in 2011 be counted in 2011 GDP? Why or why not?
Illustrate what were some of the major contributing factors and how did they combine to cause the recession. How were you affected by it.
What would like to know and how to get the equation. Your help is greatly appreciated.
How does the expenditure approach calculate GDP. It adds up all the incomes in the economy, It adds up the value of four groups of final goods and services or else.
Discuss and explain the components of GDP in the output approach and in income approach, NDP, NI, PI, and DI.
Are natural disasters causes of inflation or deflation. Explain where might the public see the evidence.
Explain why the Fed can attempt to target either changes in the money supply or changes in interest rates, but not both. Your response should be at least 75 words in length.
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