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Q1. Explicate four of problems with the argument which trade protection is needed to protect American jobs.
Q2. Empirical studies indicate which the LAC curve is L-shaped. Illustrate what does this mean for the survival of small firms in the industry?
Q3. A monopoly has the cost function TC=1/3Q^3-5Q^2+23Q+25, where TC is the total cost and Q is the output. Illustrate what is the profit-maximizing level of output, if the market demand is given as Q=-2p+90?
The advent of personal computers also word processing software which eliminated the market for electric typewriters would be an example
appliance store are unable to successfully compete also are driven out of business. why does Wal-Mart have a cost advantage over its competitor.
what single payment at the end of year 5 is equivalent to an equal annual series of payments of $800 beginning at the end of year 3 and ending at the end of year 12? The interest rate is 8% compounded annually
Discuss and explain similarities and differences in the roles economists play as policy makers and as scientists.
For each values for the MPC, determine the size of the simple spending multiplier and the total change in real GDP demanded following a $10 billion decrease.
Explain why you would not offer a loan to the next individual who applies for a car loan at your local bank at a higher interest rate than the bank pays on certificates of deposit.
Political scientist Garry Wills stated if leader is just an expediter of what other people wish, a resource for their use, the people are not being led but serviced.
How do automatic stabilizers affect budget deficits and surpluses? How would automatic stabilizers be affected by an annually balanced budget rule? Why do automatic stabilizers minimize the lag problems with fiscal policy?
Explain how much does consumption change this year in absolute dollars as a result of a $5,000 annual tax cut to your income, if the tax cut.
Why did the budget surpluses in 2000 and 2001 give way to a series of budget deficits beginning in 2002? Why did those deficits increase substantially beginning in 2008?
How does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil? Explain, using economic terms, why this is so.
Explain the logic of the Ricardian view of government debt and evaluating its practical relevance.
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