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The most vocal political pressure for tariffs is generally made by:
a. Consumers lobbying for export tariffs
b. Consumers lobbying for import tariffs
c. Producers lobbying for export tariffs
d. Producers lobbying for import tariffs
Describe how expectations can influence the effectiveness of discretionary policy. Using an AD-AS diagram, illustrate the short-run effects on prices, output, and employment of an increase in the money supply that is correctly anticipated by the publ..
The rate cut was made because European nations were growing very slowly or were in recession. What effect did the bank hope the action would have on the economy.
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
Economists have often found that purchasing power parity gives a closer approximation to reality during periods of very high inflation than during "normal" times. can you provide an explanation for why this might be so?
Solve for market equilibrium price and quantity. Illustrate your answer with a diagram of market. What are dollar values of consumer and producer surplus.
A machine makes drill bits. When the machine is operating correctly, the variance of the diameter of drill bits is no more than .04 inches. In a random sample of 81 drill bits, the sample variance was .07. Test the hypothesis at the 1% level that the..
What caused many nations to abandon the gold standard by the end of WWI? What were the consequences of that action?
As a savings plan for college, the Smithfield's deposited $15,000 in an account paying 6% compounded annually when their daughter Mary was born. How much will the account be worth when Mary is 18 years old?
Are innovative product and service offerings ethically neutral? Consider Napster and the intellectual property issues associated with swapping music over the Internet as an example to begin the discussion.
Which of these will still be needed when you move your company to PayMaster?
You run a chain of movie theaters, so you commission a marketing study that categorizes your potential customers into 10 equal-sized groups according to what they’re willing to pay for a movie ($10, $9, $8, $7, $6, $5, $4, $3, $2, $1).
Assume a person is working 40 hours per week. If the wage rate is greater than the person’s marginal rate of substitution (MRS) at 40 hours, he or she would maximize utility by working more hours. Persons with more education will be able to earn (on ..
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