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Q1. Assume that the autarky charge of commodity X is $10 in Nation A, $8 in Nation B as well as $6 in Nation C, as well as Nation A is too small to affect costs in Nation B or C by trading. If Nation A initially imposes a nondiscriminatory ad valorem tariff of 100 percent on its imports of commodity X from Nations B as well as C, will Nation A produce commodity X domestically or import it from Nation B or Nation C?
Q2. What would be the necessary criteria needed to test a TSLS model regression? Are the assumptions the same as under a simple linear regression? What does TSLS imply about the data if a strong F is found?
Show how the transaction would have been recorded in the German balance of payments accounts. What was the net effect on the German balance of payments.
How do the GDP per capita change after accounting for price indices. Why is it important to use price index adjustments.
Explain the difference between Macroeconomics and Microeconomics. Also explain how economics is used as a social science and as a policy tool.
You are using a sample size of 15 for your charting purposes. Which of the following is the upper control limit D4 factor for the chart.
If the number of labor hours increases by 10% and the number of hours of capital used decreases by 10%, what is the percentage change in output.
The cost curves of the firm. In terms of economies of scale, why would a firm sometimes want to expand output and sometimes not want to expand output.
Explain how the MAS have successfully used exchange rate policy to achieve price stability for the last two decades.
Write down the budget constraint of the representative consumer and Write down the maximization problem of the representative consumer and find labor supply
Explain the paradox of why new cars usually lose a large fraction of their market value the moment they are driven from the showroom. Identify the economic principle that explains this paradox.
What must the CFO expect about the Australian Dollar/US$ exchange rate 1 year from now if she chooses to invest in the US $ CD's instead of the Australian CD's.
They value campaign funding in terms of dollars spent. Therefore, after spending ci on a campaign.
All costs of exhibiting movies are fixed except for the $3.50 royalty payment you must make to the film distributor for each ticket sold.
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