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What major arguments can you list to support the doctrine of free trade? Why is the WTO important in maintaining the doctrine of free trade? What values and principles has the GATT/WTO promoted to liberalize international trade?
Elucidate why the general level of wages is higher in the United States and other industrially advanced countries.
Assume that the job separation rate s is 0.01 (1%) per month and that the job finding rate f is 0.2 (20%) per month. Assume that the labor force today (period t = 0) is 100 million. What is the steady state unemployment rate for this economy?
If your average pre-retirement earnings were $30,000 per year, your highest preretirement earnings achieved was $90,000 per year and you receive $20,000 per year in retirement benefits, what is the replacement rate?
Show why this equilibrium point is unique, i.e. if we are not at point E, illustrate what would happen in this economy.
How does the analysis of risk aversion change when one allows for alternative models of decision-making then expected utility? How does subjective expected utility theory differ from expected utility theory? How might one elicit a subjective probabil..
If the owners could have earned a 20% annual rate of return on the invested money, explain how would the economic profit change (all else equal). How would the accounting profit change.
Determine the point price and income elasticity’s for household furniture. b. What interpretation would you give to the exponent for R?
A small truck is purchased for $22,000. It is expected to be of use to the company for 6 years, after which it will be sold for $4,000. Determine the depreciation deduction and the resulting unrecovered investment during each year of the asset’s life..
Outline the methodology of studying economics also utilize examples in your conversion.
Explain how Democratic is it to support an unelected judiciary. Defend your argument for or against the election of federal judges and Supreme Court justices.
Purchasing Power Parity (PPP) implies that
Explain why each of the following statements is True, False, or Uncertain according to economic principles. Use diagrams where appropriate. Unsupported answers will receive no marks. It is the explanation that is important. The Ontario government now..
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