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Why does international trade occur? What does it mean to run a deficit in the merchandise trade balance? Distinguish between a tariff and a quota. Who benefits from and who is harmed by such restrictions on imports?
What economic problem is the nation facing and what would be the goals of your Fiscal Policy
On Valentines Day, the prices of flowers and chocolate are usually high compared to other times. How do the principles of demand and supply describe the reasoning behind such price increases?
Demand for DVD rentals at a video store is described by the equation: Q= 4,000-500P, where Q denotes the number of DVDs rented per week and P is the rental price in dollars.
Draw the production possibilities curve for time. On one axis put sleep time and on the other put awake time. You have 24 hours available in a given day. Indicate the combination that describes your allocation today.
A British pharmaceutical company spent several years and considerable funds on the development of a treatment for HIV patients. Now, with the protection afforded by patent rights, the company has the potential to reap enormous gains.
In the imperfect competitive market of jeans, Lean Jeans, Inc., recently offered rebates of $1 off the regular $50 price. Quantity sold jumped 4 more jeans from the previous 100 figure the previous month.
Based on your understanding of frictional, cyclical, and structural unemployment, do you think that this high unemployment rate can be explained by frictional unemployment? Why or why not?
Event 1: The wages for all dental assistants increase, increasing the costs of inputs. Event 2: The government provides national dental insurance benefits for all U.S. citizens that cover 100% of the cost of all dental services. There are two effe..
Why do public goods demonstrate the limitations of a free market economy. they allow consumers to make all of the economic decisions or else.
Demonstrate graphically the cost of income taxation of 30% to consumers and producers for an income of $27,908 and how does the taxation change if the income was $220,874?
Discuss why is it difficult to estimate who is and who is not in the labor force? What consequence does this have, if any, for the labor market indicator?
Most people are concerned that wages determined in the labor market are unfair and most people typically earn the bulk of their income from wages and salaries.
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