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To what extent are today’s trade debates such as the Trans-Pacific Partnership similar to or different from the mercantilists’ focus on maximizing exports and limiting imports?
Suppose there are two inputs in the production function, labor and capital, and these two inputs are perfect substitutes. The existing technology permits 1 machine to do the work of 3 workers. The firm wants to produce 100 units of output. Suppose th..
Suppose Alan’s preferences are described by the utility function: Find the equation for Alan’s indifference curve through the bundle (3, 6).
Chevron Corporation is one of the largest integrated oil companies in the world. Its management is assessing the world marketplace and taking steps to sustain the company’s competitive position. Faced with business competition on a global scale, Chev..
In each of the following examples determine (1) the market in question; (2) whether a shift in demand or supply occurred the direction of the shift and what induced the shift; and (3) the effect of the shift on the equilibrium price and quantity.
Among the problems that hinder growth in developing economies are poor infrastructure, lack of financial institutions and a sound money supply, a low saving rate, poor capital base, and lack of foreign exchange. Elucidate how these problems are int..
For the production of the type Q = 2K + L with wage rate w = $1 and price of capital (rental rate) v = 1, the expansion path is K axis. Do you agree? If any firm experiences increasing returns to scale in a perfectly competitive industry then the ind..
Explain why is the law of supply and demand in applicable without a ceteris paribus assumptions.
Some economists prefer to use the term businessfluctuations rather than business cycles toSome economists prefer to use the term business fluctuations rather than business cycles to discuss the historical growth record in the united states because..
Explain how the U.S. economy may self-correct back to the long-run equilibrium where actual GDP equals to full GDP and there is full employment.
Was there anything that you learned that could be applied to career development or your potential job interviews with the use of a portfolio?
You decide in May that the coming summer's corn crop will be much larger and the fall corn price consequently much lower than most people expect. To act on your beliefs, should you buy or should you sell December con futures?
Explain why the reduction in employment would be less than 5 percent in the latter case. In light of the short-run elasticity of demand for migrant workers, how easy do you think it would be for the industrial farms to replace the workers’ efforts by..
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