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World trade has grown substantially in the last 60 years. For example, while world output grew at an annual rate of 3.8% per year between 1950 and 2003, world exports grew at 10.8% per year over the same time period. Which of the following help to explain the increase in international trade and finance since the 1950s? Check all that apply.
1. A shift toward trading lighter, more easily transported goods
2. International trade agreements such as the General Agreement on Tariffs and Trade (GATT)
3. Higher tariffs
4. Services such as web conferencing and teleconferencing that facilitate international meetings
Suppose the velocity of money is constant at 5 transactions per year, the price level for this year is $1, and real GDP this year is $8,000,000. Suppose the economy's output of goods and services rises by 5% each year. What will nominal GDP be equal ..
newsprint the paper used for newspapers is produced in a perfectly competitive industry. each identical firm has a
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what could affect every also a Discussion of why it is more accurate to examine both when trying to conclude a nation's economic success.
a company that recently spent $10,000 to develop a statistical software package.
Explain why time management, communication and motivation are given more importance in the project management environment in contrast to traditional management environment.
You have just inherited $100,000 from your rich uncle Sam. Being the conservative sort, you rush to your local bank and deposit the entire windfall. The reserve requirement is currently 10 percent. What is the immediate impact on the balance sheet of..
Suppose the government wants to achieve a level of Y=2,000. What level of T must be set to achieve the goal? Where C=200+0.5(Y-T), I=800, and G=300
Write about the long-term system. What is it? How does it work? Who pays for it? Who gets insurance? As much as you can - Passive Euthanasia in Sweden: This is the thing about helping people who are very sick and want to die.
Suppose an airline is losing money because they cannot fill enough seats in their flights with passengers. The airline would offer a flight only if at least 70% of the seats could be filled. The average total cost for the typical flight is $12,600. W..
What is the current requirement of the law in the US in terms of the payroll tax levied on firms and workers? Based on our discussion in the previous chapters, what are the empirical estimates of the elasticity of labor supply and labor demand?
A firm's production function is qi = .2*Ki.2Li.4. The wage rate in this area is w = $15, and the cost of capital is r = .05. Find the firm's short run cost function, if Ki is fixed at $100,000. If the good is exported around the world at a price of $..
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