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Explain why each of the following is false:
a. A freeze in Brazil's coffee-growing region will lower the price of coffee.
b. "Protecting" American textile manufacturers from Chinese clothing imports will lower clothing prices in the United States.
c. The rapid increase in college tuitions will lower the demand for college.
d. The war against drugs, with increased interdiction of imported cocaine, will lowei.the price of domestically produced marijuana.
Discuss in detail the arguments for and against the minimum wage. Be specific about the position of the economists on the issue. NO graphs and NO math.
Define the four basic types of trade barriers. Who gains and who loses from a protective tariff? Explain. Identify the four major tools of monetary policy. Describe how a change in the Fed’s major policy tools leads to [1] expansionary and [2] restri..
Boeing and these firms make decisions and pay their workers, investors, and raw material suppliers to influence what, how, and for whom goods and services are produced. All these decisions are made in self-interest, and produce an airplane at the ..
Give at least one example of a sports issue that illustrates a concept from each of the following: Industrial organization; public finance and labor economics.
Critically evaluate measures used by governments and central banks to manage the economies of their countries.
Why are vision and mission statements important to strategic development? How might leaders and managers view and use vision and mission statements differently?
Assume that the market for Coca-cola in your area is perfectly competitive, with Demand P= 11-0.1Qd and supply P= 1+ 0.1Qs. Each firm that sells Coca-cola is identical, with Total Cost TC= 1+0.5Q+2Q? Which gives Marginal Cost MC= 0.5+4Q. Currently th..
In September 1995, Patrick Buchanan, a Republican candidate for U.S. president, proposed a 10 percent tariff on Japanese imports to the United States, a 20 percent tariff on Chinese imports to the United States, and an unspecified “social” tariff on ..
You recently hired an economist to work with engineering also operations experts to estimate the production function for a particular line of office chairs.
Suppose total benefits and total costs are given by B(Y) = 150Y − 10Y2 and C(Y) = 5Y2. What level of Y will yield the maximum net benefits?
Identify the point on the budget constraint this worker has chosen. Explain how much is he working per day.
If we accept Marx's labour theory of value, we run into a different problem: if a working day of 8 hours creates same amount of value in a highly mechanized industry as in an industry with few machines, why do capitalists introduce machines.
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