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Assume initially that the demand and supply for premium coffees (one-pound bags) are in equilibrium. Now assume Starbucks introduces the world to pre- mium blends, and so demand rises substantially. Describe what will happen in this market as it moves to a new equilibrium. If a hard freeze eliminates Brazil's premium coffee crop, what will happen to the price of premium coffee?
Describe why the general level of wages in high in US and other industrially advanced countries. Determine the single most important factor underlying the long run increase in average real wage rates in the US
Elucidate what can you infer from this data about labor productivity growth in the US economy during the period.
Will recessions starting in the US be more easily transmitted to Canada under a fixed or flexible exchange rate system. Use the appropriate graphs to illustrate your discussion.
Determine the profit-maximizing quantity for a monopolist. You can ask the firm's to draw the firm's revenue and cost curves
What are those key objectives and what are the key tools the Fed plans to use to achieve those objectives?
You have been hired to work with a resort owner in Northern Minnesota. This resort owner runs a very small operation catering to mostly people who like to fish.
Project the effect of national economic conditions regarding trade and specialization business decisions.
In each of the cases listed below determine what this consumer needs to do (in terms of purchasing X and Y) to maximizes their utility.
Explain why is the "1 free" free to the buyer but not to society. At which point if any should the government regulate such promotions like these.
Assume that Japanese and U.S automakers produce on identical isoquats. Wages are higher in Japan than in the United States.
The Heckscher-Ohlin model assumes that tastes are the same in Home and Foreign. Suppose now that tastes are different in Home and Foreign.
Explain why is private property and the protection of property rights, so crucial to the success of the market system.
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