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Consider a market for fish whose market demand and market supply for fish are specified as Qd = 300 - 2.5 P and Qs = - 20 + 1.5 P respectively. The government decides to impose a price floor of $50 per ton. What would be the resulting market distortion?
We will look now at changes in the income distribution of Canadians between 1991 and 2001. Use the census data for these years provided in the course web page. Download that data i
Trends in current account: A glance at the net invisible account suggests that its ever- rising trend from 2000-01 did not only support the massive trade deficit but
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The following Table summarizes the profits of two firms as a function of their capacity investments levels (you can also interpret these levels as the quantities they produce):
Imagine Adam Smith living in today's economic climate. Describe what current economic issues about which he might be most concerned with and state why?
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Fixed versus floating exchange rates: To begin with, we will briefly review the balance of payments (BOP) table of a nation that you studied in the course on international eco
Introducing the Foreign Trade Sector Most economies in the real world are open economies. They engage in trade with other economies. Goods and services are exported and import
Suppose you are dealt two cards from a standard deck of playing cards. a) What is the probability of being dealt a pair of aces? b) There are 13 possible pairs possible (Aces throu
What are the Central bank overnight interest rates The overnight interest rate is an important interest rate for a central bank and it has methods of influencing this rate. In
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