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Since the early 1980s China has opened up its economy to market forces and international trade after 30 years of central planning. In 2002 it became a member of the World Trade Organisation (WTO) and agreed to remove various import protection measures. In the light of the law of comparative advantage, how would you expect production and trade in China to alter over the coming years and why?
List the six evidence gathering techniques in order of cost from highest to lowest.
a. Suppose that if the wage is raised a second time to $40 per hour, the number of cars sold rises to an average of 2.5 per day. What is now the labor cost per car sold b. If the firm's goal is to maximize the efficiency of its labor expenditures
Elected officials in the state legislature are supporting legislation that subsidizes the entertainment industry, specifically film and sports stadiums, because they promote economic growth for cities. Evaluate this claim if the employment multipl..
Choose a pair of topics that complement one another: See the suggested list of topics in the "Comparative Essay Topics Handout" below in the supplemental documents portion of these instructions.
According to a recent survey, 50% of all customers will return to the same grocery store. Suppose nine customers are selected at random, what is the probability that: (a) Exactly five of the customers will return (b) All nine will return
Who or what do I blame for disparities in wealth and opportunity? Poor people? Wealthy people? The system? What do I think needs to be changed? Do I want to be a part of that change? If so, in what ways?
suppose a single firm produces all of the output in a contestable market. The market inverse demand function is P=100 -Q, and the firm cost's function is C(Q) = 2Q. Determine the firm's equilbrium price and corresponding profits.
A business license allows a firm to operate the business for one day. The city will auction up to seven business licenses to the highest bidders, and the auctioning licenses will continue as long as someone bids a positive amount for one of the li..
The size of the labor force in a community is 800, and 720 of these folks are gainfully employed. In this community, 200 people over the age of 16 do not have a job and are not looking for work. In addition, 100 people in the community are under t..
Mary's credit card situation is out of control because she cannot afford to make her monthly payments. She has three credit cards with the following• 1 loan balances and APRs: Card 1, $4,500, 21%; Card 2, $5,700, 24%
How do farmers in developing countries adapt to climate change that they experience? What are the main ideas of environmental accounting? If practiced, what effects would you expect to see?
the implicit price deflator was used to measure inflation before World War II, and the consumer price index has been used since then.
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