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The World Trade Organization Press Release demonstrates the impact of a declining world economy on global trade.
Discuss the pros and cons of imposing quotas on some imported goods. How would this affect the American economy?
What is the effect of a country devaluing its currency (like China, for example)?
Employ an isoquant and isocost diagram and words to show how firms will respond to the decrease in the wage rate. Be sure to identify the short run scale effect and the long run substitution effect.
Michelle spends her weekly income of $50 on two goods: cans of hairspray and bottles of nail polish. The price of a can of hairspray is $5 and the price of a bottle of nail polish is $4. If the price of a bottle of nail polish falls to $3:b. the o..
How would a change in the nominal exchange rate affect competitiveness in the short run when prices are sticky and business executives and policymakers are often concerned about the competitiveness of American industry
Draw the labour supply curve for taxi drivers in New York City based on this estimate. Note: Since you have no data on wage rates and hours of work supplied, you are expected only to provide a rough approximation of the supply curve.
Three machines are employed in isolated area. They each produce 2,000 units of output per month, the first requiring $20,000 in raw materials, the second $25,000, and third $28,000.
Now suppose there is another country called Lotech which has not seen the innovations in credit cards and ATMs that Hitech has. If the rate of money growth and the growth rate of real GDP were the same in Hitech and Lotech over this period, then h..
Compare these nominal interest rates with the current rate of inflation as measured by the most recently announced rate of change in the consumer price indexIf the current rate of inflation were to continue unchanged, what real rate of interest wo..
Public administration can't exist outside of its political context. Describe how politics affects the policy making process and the delivery of governmental services.
What level of output will these firms produce in the short run and are these firms operating under perfect or imperfect competition?
Joanne has decided to buy the Hummer and set up a commuter service between Boston and Lowell. There are 1000 people who will pay $400 a year for the commuter service; $280 from each person goes for gas, maintenance, insurance, depreciation etc.
Farmers have a relatively inelastic demand for their crops. Suppose there is a bumper crop year (an unusually large harvest).
What money supply should the Fed set next year if it wants to keep the price level stable and what is the price level? What is the velocity of money?
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