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1. Explain what comparative advantage is. Make up an example to illustrate this concept.
2. What is wrong with having tariffs and quotas? Which is the lesser of the two evils, and why?
3. Explain why globalization is good for the United States. What are the drawbacks of global ization for our economy?
Draft the source selection criteria that might be used for evaluating proposals for providing laptops for all students, faculty, and staff at your college or university.
What are the economic implications of this action in the labor markets? Use graphs as needed and explain your answers thoroughly.
Assume that you have been hired as a managing consultant by a company to offer some advice that will help it make a decision as to whether it should shut down completely or continue its operations. It currently uses 100 workers to produce 6,000 un..
A delivery company is considering adding another vihicle to its delivry fleet, all the vehicles of which are rnted for $100 per day. Assume that the additional vehicle would be capable of delivering 1500 packages per day
What incentive conflict was being controlled by these loyalty payments? What advice did Intel ignore when they adopted this practice?
How does this affect the extent to which the exchange rate overshoots when the money supply first increases? Is it likely that the exchange rate undershoots?
However, India went much further, producing almost everything for itself, while Mexico continued to rely on imports of capital goods. Why do you think this difference may have emerged?
Three students have each saved $1000. Each has an investment opportunity in which he or she can invest up to $2000. The rates of return on the students' investment projects are: Harry: 5% Ron: 8% Hermione: 20%.
Suppose that deposits and bank reserves pay no interest, and that banks lend deposits not held as reserves at the market rate of interest. Who pays the inflation tax (measured in nominal terms), and how much do they pay?
Assume ZCorp has the following short run production function: Q = 500X - 2X2 where X is the only variable input used by ZCorp to product its product, Q. Because ZCorp sells its product in a perfectly competitive market, it can sell all the Q it produ..
What is the average total cost for the 10th unit of output 4. Why does the marginal cost of producing the product fall and then rise (What is the relationship between the cost curves and the production function)
What change in autonomous spending is required to change equilibrium real GDP demanded by $500 billion?
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