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Problem
1. Suppose a country opens its trade borders and becomes a net-exporter of beef. Is it better for domestic consumers of beef if the country is a large player on the world market or a small player?
2. Suppose Mexico wants to protect its domestic automobile industry from U.S. and Japanese competition. How will a tariff on imported cars help it to accomplish this task? How does the tariff affect domestic producer and consumer surplus?
Why is the marginal revenue for the monopolist downward sloping?
In the US, steel production has remained constant since the 1970s at about 100 million tons per year. Large integrated companies, like United State Steel, remain important in the industry, but roughly 50%.
Assume an economy that is operating above full employment. Draw a correctly labeled aggregate demand and aggregate supply graph and show each of the following:
What's it called when one person (or nation) is more productive than another needs fewer inputs or takes less time to produce a good or perform a production task.
In 1970 Milton Friedman argued that the only social responsibility of business was to increase profits. Compare and contrast the evidence Freidman presents to back up his claim with that provided in the Homer-Dixon article.
How did the pound ‘fare' compared with the dollar, the lira and the yen from 1980 to 2001? What conclusions can be drawn about the relative movements of these three currencies?
The quantity of money grows at a rate of 20 percent a year, real GDP grows at 8 percent a year in the long run, and the velocity of circulation is constant. What is the inflation rate in the long run
If I have to lay-off 19 employees as the company is upside down -$1878.00 after total cost. So, by cutting staff of 19 with a salary of $100 per day, an eight hr day, how much will I save.
According to the intensive distribution strategy, a consumer should not have to go beyond the nearest store to buy the product. Create a 300- to 400-word response answering the following:
Assume that the nominal wage rate equals 60. In the short-run, aggregate demand and aggregate supply are equal at a price level of 1 calculate the real wage rate.
In your own words, please identify two different stock exchanges in the United States. Describe the similarities and differences between the two stock exchange.
Explain the difference between the fallacy of composition and the post hoc fallacy. Then, provide a real world example of each fallacy from your own personal or professional experience.
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