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Would consumers benefit more from a tariff or a quota on imports? Provide one (1) supporting fact to support your response. Consider the following weekly production possibilities of gloves and hats in Panama and Russia:
Russia Panama
Gloves 20 180
Hats 80 90
What is each country's opportunity cost of producing gloves and hats? If the countries could, should they trade? Provide one (1) supporting fact to support your position.
Discuss how deficit spending relates to the economic collapse of the Greece and Spain economies. Relate their economic collapse to U.S. current economic problems. How does U.S. deficit spending affect our economy? Greece and Spain have introduced ..
Py =4 and Uo is the maximal level utility when Px =5, Py =4 and I =100. find the the compensated demand curve (or of Hicks) and draw it on the same graph. for what value of Px the two curves will cut? what is the elasticity of compensated demand w..
If you have a private-ownership right to something, what does this mean? Does private ownership give you the right to do anything you want with the things that you own? Explain. How does private ownership influence the incentive of individuals to
The owner-manager of Good Guys Enterprises obtains ulility from income (profit) and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures.
Calculate the elasticity of production factors and what conditions must be satisfied by the production function parameters for the returns the scale to be increasing, decreasing or stable?
The earnings of engineers, doctors, and lawyers are high because lots of education is necessary to practice in these fields
Assuming no population growth or technological progress, find the steady state capital stock per worker , output per worker, and consumption per worker as a function of the savings rate and the depreciation rate.
a monopolist has two types of customers. there are 100 of type a who will each pay up to 10 for a single unit of the
What is the effect on the economic well-being of a nation when a tariff is imposed? Consult a newspaper and identify an industry where there currently is a tariff. What is the effect of this tariff on the U.S. economy?
Consider two ways to protect your car from theft. The Club(a steering wheel lock) makes it difficult for a car theif to take your car. Lojack(a tracking system) makes it easier for the police to catch the car thief who has stolen it.
the haas corporations executive vice president circulates a memo to the firms top management in which he argues for a
Determine how the following situations will affect the demand curve for ipods.
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