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Answer the following questions in essay format. Be specific in your answer.
Explain the various impacts of an import tariff in small nations vs. large nations.
What are the three main reasons governments prefer using a tariff to restrict imports versus quotas?
Should our government use a weak dollar exchange rate policy to make imports more expensive in order to help our exporters?
What roles do the IMF and WTO play in trade and the use of tariffs?
An employer faces two types of employees. Regular workers are 70% of the population and generate $100,000 in productivity. Exceptional workers are 30% of the population, and generate $120,000 in productivity. Employees know their types, and reject sa..
Suppose that a firm's production function is given by U=K.33 * L.67, where marginal product of capital is QK = .67(K-0.67 * L.67) and MPL is QL = .67(K.33 * L-.33).
Using an aggregate demand and supply diagram, explain how each of the following scenarios affects the equilibrium price level and aggregate output. Consider first the short-run, then the long-run equilibrium for each scenario.
Switching from one anesthesia drug to another reduces costs by $100 per patient. What additional information do you need to do a cost-minimization analysis?
Suppose you detect heteroskedasicity and /or auto correlated errors in your regression. What is the difference between (I) calculating robust errors versus (ii) conducting a weighted least squares or feasible generalized least squares analysis.
Where within the business cycle was the United States operating in October of 1929? Briefly compare and contrast the period of 1929 - 1932 with what has taken place in the United States over the past 4 years. While you may feel what happened in 1929 ..
1.does easy access to distribution channels at best buy office depot as well as the direct- to- consumers on the
Which of the following statements is generally True about information products?
What is the economic justification for zoning laws, which restrict the private property owner’s right to do what he or she wants with his or her property?
Is the solution to the prisoner’s dilemma game a Nash equilibrium? Why?
As the exclusive carrier on a local air route, a regional airline must conclude the number of flights it will provide every week also the fare it will charge.
Some politicians have suggested that the United States enact a constitutional amendment requiring that the federal government balance its budget annually. Explain why such an amendment, if strictly enforced, would force the government to enact a cont..
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