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Other things equal, would the formation of a customs union with many members be more likely or less likely to improve welfare for a given member country than the formation of a customs union with only a few members? Why or why not? Other things equal, would the formation of a customs union be more likely or less likely to enhance welfare for a given member country if that country had very high pre-union tariffs than if it had very low pre-union tariffs? Why or why not?
The returns to education are 13.4% per year for the first four years of schooling (grades 1- 4), 10.1% per year for the next four years (grades 5 - 8), and 6.8% per year for education beyond eight years. What fraction of wages is due to human capital..
Calculate the MRS or the marginal rate of substitution between X and Y. How much X and Y will Sam buy to maximize his utility given his budget constraint and the prices of X and Y?
An engineer deposits $900 each month into a retirement account. After 30 years, the balance in the account is $1.7 million. Determine the effective annual rate of return for this account.
The structural engineering design section within the engineering department of a regional electrical utility corporation has developed several standard designs for a group of similar transmission line towers. The detailed design for each tower is bas..
Include an example in which the government has used either economic or social regulatory activities. Illustrate do you agree with this regulatory activity.
The demand for Dunkin Donuts glazed doughnuts will change by Illustrate what percentage also in Illustrate what direction.
Kermit and Fozzie play a game with two jars, each containing 100 pennies. The players take turns, Kermit goes first. Each time it is a player's turn, he chooses one of the jars and removes anywhere from 1 to 10 pennies from it. Does this game have a ..
You are thinking about becoming a Paradise Coffee franchisee. Franchisees are offered a business specializing in producing an exclusive line of exotic coffee drinks (similar to Starbucks). What is the estimated explicit (accounting) cost of your prop..
Suppose we collect the following information from a large number of junior and senior level college students: Give specific interpretations for the coefficients in the model, and discuss whether or not they make sense. Based on this equation, what co..
What will be the monthly payment on a 30-year, $250,000 mortgage loan, where the interest rate is 6% per year, compounded monthly? How much interest is paid over the life of the loan?
Assume that the demand for ethanol, a corn-based alternative fuel, decreases. As a result, ethanol producers petition the Environmental Protection Agency (EPA) to raise the allowable amount of ethanol in gasoline blends from 10 percent to 15 percent...
Agricultural price supports increase consumer surplus. Agricultural price supports decrease producer surplus. Agricultural price supports benefit taxpayers by reducing the price of food.
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