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Consider the specific factors model we discuss in class. Suppose that when the Home country opens up to trade, the price of the M good relative to the A good decreases. In our class, we assume that this relative price increases.
1. Which good is exported and which good imported? Why?
2. How does the opportunity cost of the M good change, going from closed economy to free trade? Why?
3. Explain why the overall gains from trade are still positive.
How would you repond to this discussion question:foreign exchange rates are determined by supply and demand. Using the supply and demand curve, the intersection of the curves for a certain currency will help determine the exchange rate. The rates ..
Suppose that society decided to reduce consumption and increase investment. How would this change affect economic growth? What groups in society would benefit from this change?
In pure competition-marginal revenue
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Most economists believe that, in the short run, an increase in the money supply will
Explain in detail what happened to the global crisis of 07-09 and how it became disruptive to commercial banks, investment banks, and insurance companies. include details from the home improvement act, non-bank banks, investment banking activities, a..
There are two identical firms in this economy with constant marginal costs equal to 1 and no fixed costs. Assume that firms set prices and follow a Bertrand model to do so.
Home (H) and Foreign (F) produce autos and shirts using capital (K) and labor (L). Draw a PPF-Budget Constraint-Indifference Curve diagram for each country that shows the autarky (no-trade) equilibrium, indicate what the country is producing and cons..
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Confused and cannot find much information about the Keynesian model? According to the Keynesian model, what are the two components of consumption spending? What factors determine how consumption changes when real disposable income changes?
Explain each of the four components of GDP. An individual has 10$ million on deposit in a financial institution drawing interest. That individual has no reason to fear inflation or recessions.
Do you believe that profit (or shareholders wealth) maximization still represents the best overall economic objective for today's corporations.
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