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Should we restrict foreign imports?
Should we restrict foreign imports or let them in? This is a classic economics question which has been discussed by economists since the time of Adam Smith in 1776.
Read the article below. Then list one good reason to allow tire imports and one good reason to restrict tire imports. Give a short explanation for each reason. All things considered, should cheap Chinese tires be kept out or let in?
Industries used to make capacity, production, inventory and staffing decisions based on long-range forecasts.
Describe how a change in investment can have big impact on GDP causing a nationwide slump. Recall that investment is "small" relative to the entire economy.
Assume the marketplace for milk. For each of the following events, state whether it affects supply or demand (or both, or neither), which direction supply/demand shifts.
Employment also labor law influences as the organization grows both domestically and internationally
The BLS estimates that in 2002, the number of working-age adults was 211.9 million, labour force was 141.8 million, and the total number of employed was 135.1 million. Calculate the following:
What is autarky price and quantity equilibrium for both home and foreign? What is the open trade price and volume under free trade.
Graph the accompanying demand data, and then use the midpoint formula for Ed to determine price elasticity of demand elasticity of demand.
What do you regard as the main weaknesses of the Ricardian or Classical model as an explanation of the trade patterns? Why do you regard them as weaknesses?
Illustrate the factors comprises in making decisions about pricing tobacco products indicating which would be the most influential.
What is the main policy message of the AS-AD model, and how does it relate to the 1930s Keynesian revolution in economic theory? What should today's policy-makers assume about the natural rate of unemployment?
The best Leisure John may get in a week is 168 hrs. Other than that how many hours a week John works, he gets a $200 allowance from his father.
Suppose are predicting a steady decline of 6% per year in dividends for the foreseeable future. What is the most you would be willing to pay for this stock.
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