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Canada is a party to the Trans-Pacific Partnership (TPP) deal reached on October 5, 2015. The TPP is a free trade agreement between Australia, Brunei, Chile, Canada, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States, Vietnam and South Korea. Critics argue that TPP goes far beyond the realm of tariff reduction and trade promotion, granting unprecedented power to corporations and infringing upon the consumer, labour, and environmental interests. Proponents argue that the purpose of TPP is to serve as a pathway to Asia-Pacific regional economic integration that will help support the creation and retention of jobs in Canada and the other TPP countries.
i) Suppose you are a classical economist, would you advise that Canada withdraws from the TPP deal? Why or why not? Explain.
ii) Suppose you are a Keynesian economist, would you advise that Canada withdraws from the TPP deal? Why or why not? Explain.
Widgets R Us uses a variety of different items to produce their world-class widgets. For each item listed, place it in the appropriate bin according to whether it would generate an implicit or explicit cost for the firm.
Officer Jones, in full uniform driving a marked police car, follows a motor vehicle operated by Smith because the vehicle has crossed the center line. should be admissible because it was found pursuant to a valid Terry stop- and- frisk. should be exc..
Mars Inc manufacturers M&Ms the milk chocolate comes in a variety of colors: blue brown green orange red and yellow the overall proportions for the colors are 0.24 blue, 0.13 brown, 0.20 green, 0.16 orange, 0.13 red and 0.14 yellow in a sampling stud..
Representative consumers have the utility function U(C,Ls) = log(C) + log(1- Ls). Representative consumers have labor endowment of 1. So Ls must be less than 1. Write down the budget constraint of the representative consumer. Write down the maximizat..
Explain demand schedule and demand curve, and how they are related? Why does the demand curve slope downward?
Suppose that corn currently costs $8.00 per bushel and that wheat currently costs $6.00 per bushel. Also assume that the price elasticity of corn is 0.25, while the price elasticity of wheat is 0.30. If the price of corn fell by 25 percent to $6.00 p..
The price of a dozen roses in the United States is about $30. If $0.559 U.S. dollars can purchase 1.00 Turkish Lira, how much does the same dozen roses cost in Turkey, if purchasing power parity holds? A. 16.78 lira B. 55.90 lira C. 53.64 lira D. 30...
q.which of the government policies below is not likely to encourage per capita economic growth?in the latter end of
What is your reaction to the world of Lucy and Ricky as presented in "I Love Lucy" ? Lucy is a natural character for this era of television, but Ricky was considered somewhat risky because of his birth and background. What is your opinion of his port..
Personal values often represent individual characteristics and beliefs that determine people's behavior in various environments. Personal values and ethical standards are developed throughout life.
The demand for a good X in a town is Q = 10 − P , where P is the price of good X per pound and Q is the quantity demanded in pounds. The marginal cost of producing the good is $2 per pound. There is no fixed cost of producing the good. What are the p..
Write a short essay, using the market failure analysis, to justify why the U.S. government should or should not be involved in the provision of (1) airport security and (2) medical care.
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