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A tax imposed on imports is called:A tariffA quotaA comparative advantageAn excise taxQuestion 2This result proposes that private parties (consumers and producers) can solve the problem of externalities on their own.A tariffScarce TheoremSocial Optimum TheoremCoase TheoremQuestion 3Two important characteristics of a public good are:Non-excludable and non-rival in consumptionExcludable but non-rival in consumptionNon-excludable but rival in consumptionexcludable and rival in consumptionQuestion 4The Tragedy of The Commons is a parable that illustrates:resources commonly owned are used more than is desirableresources that are privately owned are used efficientlyresources that are owned by the government are more efficiently usedresources that are privately owned are used more than desirableQuestion 5The impact of one person's actions on the well-being of a bystander is called a(n):SupplyMarketExternalityProperty RightsQuestion 6What criterion could you use to determine whether a small country named "Isoland" is a net importer of oil?The world price is below the domestic price in IsolandThe world price is above the domestic price in IsolandThe world price equals the domestic price in IsolandTHe world price fluctuates above and below the domestic price in IsolandQuestion 7For a net importer country, a tax on imports causes:more imports and gains in total surplusmore imports and loss of total surplusless imports and loss of total surplusless imports and gains in total surplusQuestion 8If you as an economic adviser recommend the government of Isoland (a small country) to allow free trade and steel to be imported from other countries, the steel industry at Isoland most likely will oppose your decision arguing:trade destroys domestic jobssteel is used to produce guns and tanks, therefore it is a threat to national security to allow imports from other countriesother countries that export to us are subsidizing their own industry and Isoland does notany of the aboveQuestion 9Which one below applies to an industry that produces a negative externality?the social cost and private cost are the samethe social cost exceeds the private costthe private cost exceeds the social costthe social cost is unrelated to the private costQuestion 10What explains that marginal cost increases as production of a product increases?inreasing cost lawdecreasing average cost propertydiminishing marginal product propertylaw of increasing marginals
Explain what you think of an alternative way to restructure the compensation of EFT's sales force that could potentially enhance profits.
The sales director for an industrial supplies firm has collected information describing the performance also personal characteristics of 80 members of her sales force.
List out at least one policy action that the Federal Reserve has taken to confirm that direction. Explain the effects of monetary policies on the economy's production and employment.
Show how each of the following would initially affect a bank's assets and liabilities.
Compare and contrast the facility costs of VectorCal and the US Government. Determine at least two advantages for using facility costs for both VectorCal and the US Government. Explain your rationale. "Procedures of FCCOM".
Metro Limo also Urban Limo, operate nine passenger vans. These duopolists cannot compete with price, but they can compete through advertising.
Compute the numerical elasticity of long-run demand. Is it unitary, elastic, inelastic, etc. Explain why would consumers demand 0 minutes in the long run if the price was $.30 per minute.
what is the approximate real rate of interest. Illustrate the exact real rate.
Assume that velocity of money is 5, nominal GDP is $1,350,000 and cost level is 3. Estimate all possible unknowns in XYZ's economy, if its federal reserve buys $9,000.00 in government bonds.
You are the manager of a firm which produces also markets generic type of soft drink in a competitive market.
If Anne is planning to invest her loan in an asset which she hopes to turn a profit on, Illustrate what is the minimum rate of return she needs to earn.
How should labour be allocated between x and y to satisfy the demands calculated in part.
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