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Which of the following is not a reason why countries trade goods with each other?
A) differences in technology used in different countries
B) differences in countries' total amount of resources
C) the proximity of countries to one another
D) differences in countries' languages and cultures
Suppose nominal GDP in 2002 was $100 billion and in 2003 it was $260 billion. The general price index in 2002 was 100 and in 2003 it was 180. Between 2002 and 2003 the real GDP rose by:
Explain how much would cumulative spending increase as a result. H ow much more did the average household spend on appliances, electronics, and furniture when it received the 2008 tax rebate.
Define economies of scale. Are economies of scale evident in the airline industry? What is the implication for market entry? Airline passengers are broadly segmented by purpose of travel. Characterize the two major segments by price elasticity of dem..
Select an industry with which you are familiar and determine which of the trade regulations impacts that organization the most. Support your response with specific examples.
Assume the operations manager at the company you own prefers to put in low effort rather than high effort. In order the manager to exert high effort, his expected financial gain must be at least $60,000 higher than if he puts in low effort. How would..
The U.S. supply and demand curves for cars cross at $10,000, but U.S. carmakers can sell any quantity of cars to foreigners at a price of $15,000. One day the U.S. government announces that it will pay manufacturers a subsidy of $2000 for every car s..
List two unbiased estimators and their corresponding parameters. (Select all that apply.)
The US economy is currently operating below Potential GDP. Without using someone else's estimate of Potential GDP, how would you approach calculating how much current activity is below Potential GDP? Where would you get the data for your calculation?..
hat drug is nearly through clinical trials, and is expected to produce an acceptable return on the investments that have been and will still need to be made in it.
What do you think the future has in store in terms of white collar crime? Are there certain kinds of white collar crime discussed in this text that you believe will increase? Are there certain kinds that you believe will decrease? What new forms or t..
Give two examples, the first of a case where firms have a particular advantage over markets in coordinating economic activity, and the second where firms have a distinct disadvantage
For the following production functions: calculate marginal product of labor (L), marginal product of capital (K), and the technical rate of substitution. Identify if the production function exhibits constant, increasing, or decreasing returns to scal..
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