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Determine what evidence do we have that the Central Limit Theorem is true and explain why do so many of life's events share the same characteristics with Central Limit Theorem? How would you demonstrate the Central Limit Theorem to your classmates?
The other significant indicator in international trade is balance of payments. Summarize your understanding of microeconomic and macroeconomic theory in a discussion of balance of payments
If the average price of goods in Europe increase from 100 in year 2000 to 130 in year 2010. If the average price of goods in the U.S. rises from 120 in year 2000 to 140 in year 2010.
The European Union has heavily sheltered its farm sector through import duties; in addition, Union subsidizes its exports of agricultural items. If cropland is regarded as a factor of production.
A recent merger of note is that of Hewlett Packard and Compaq Computers. When the merger was announced, it was widely criticized as not making economic sense.
Suppose that a nation faces a balance of payments deficit with high unemployment. Determine what exchange-rate adjustment can be made to solve these problems?
Discuss why would a nation impose a trade embargo on another nation and what are a trade embargo's typical effects?
Discuss what is the gain for a country that results from specialization in the manufacturing of items for which there is a comparative advantage?
Use the specific factors model, describe why you might expect to see certain capital owners and labor groups discussing against developing trade in a capital abundant country.
Determine the WTO and how its relate to international trade? Dicuss how many nations belong to the WTO? What did the Uruguay Round (1994) of WTO trade negotiations accomplish?
Nation X's production possibilities frontier is given through the following table, Further suppose that the each country is currently manufacturing and consuming at Point C on its production possibilities frontier.
Assume that a nation declares that it is moving toward free trade through decreasing its tariffs on intermediate inputs while maintaining its tariffs on final goods.
Is it not right to use the total revenue test for elasticity, when there is a direct relationship in price and total revenue the demand is elastic?
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