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1. Explain what the terms of trade are in international trade.
2. What is the exchange rate in international trade?
3. What is the difference between a tariff and an import quota?
4. Do you believe the United States should impose international trade restrictions and why do you believe this?
Barro's discussion in chapter's 7-9 does not mention a minimum wage as far as I could tell. Augment the models from these chapters to include this real world phenomenon and asses the impact of a change in the minimum wage. The book referred to here i..
What would happen to the equilibrium price and quantity of latte´s if coffee shops began using a machine that reduced the amount of labor necessary to produce steamed milk, which is used to make latte´s, and scientists discovered that latte´s cause h..
Two firms, A and B, compete à la Bertrand when selling a homogeneous good whose demand equals P = 400 − Q. Each firm’s constant marginal and average cost of producing the good equals 60. What is the equilibrium without a patent system? Is the patent ..
The demand for candy bars is given by P = 5 - 0.01Q, where P is measured in dollars and Q in candy bars. At what point is revenue maximized? If the supply curve is given by Q = 10P, what is the equilibrium price?
Give two examples of possible net surpluses that three voters get from two possible political alternatives A and B. Construct your first example so that the alternative that wins a majority vote generates the maximum total net surplus. Make your seco..
Given the number of successful prosecutions being brought, whether she will reform the Welfare of Animals Act 2011
A monopolistically competitive industry such as baked goods also a perfectly competitive industry like wheat farming are alike
Assume the average worker has 100 hours of leisure or work and could earn $10 an hour. Suppose the Social Security disability insurance (DI) program was structured so that otherwise eligible recipients lost their entire disability benefit if they had..
What is the present worth of each of the given series of payments?
You are considering buying a perpetual annuity which cost $10,000 now upfront. you could instead invest in a cd and earn 4% your discount rate. what is minimum yearly payout you require to buy this annuity?
Imagine you are in charge of development for a developing country and were approached by a multinational corporation interested in locating in your country. Identify some of the benefits and some of the costs to the host country from allowing a multi..
Suppose that $2100 is set aside each year and invested in a savings account that pays 8% interest per year, compounded continuously. Determine the accumulated savings in this account at the end of year 26
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