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US cigarette makers face enormous punitive damage penalties after losing a series of class action lawsuits that heaped penalties amounting to several hundred billion dollars on the tobacco industry. In spite of the huge penalties, The Wall Street Journal reported "The damage to cigarette makers is generally under control".
a) What action do you suppose the cigarette companies took to avoid bankruptcy?
b) Why did this action succeed?
"A substantial number of relatively unskilled persons reported that they can't find work. At the same time, there're many unfilled jobs for relatively skilled people. Apparently, the problem is that there're more unskilled peop..
Which country is capital abundant according to the Heckscher-Ohlin theorem? Given your answer to (a), draw the PPF for Canada. Also draw the indifference curve and the relative price line for the no-trade equilibrium.
Attorneys for Eastman Kodak argued in front of the U.S. Supreme Court to defend the company against charges levied by several independent firms that provide service for machine sold by Eastman Kodak.
Explain how the aggregate expenditure function shifts in response to changes in each of the following variables:
Discuss at least 3 reasons why and how workers become unemployed (be specific about causes), and also cite 3 reasons unemployed workers finally land new jobs or get rehired.
Examination of the company for which you are currently working (or a company with which you are familiar). Answer the following questions regarding this company.
What are two possible fiscal policy solutions for the problem? Using a Keynesian approach, you should be able to get numerical solutions. More points are given for numerical solutions.
Consider economy that is above full-employment equilibrium (natural rate of output) because of an increase in AD. Prices of productive resources have'nt changed. With the help of graph
Answer the next three questions on the basis of the following production possibilies data for Francia and Galacia. All data are in tons.
The Canadian economy is in long-run equilibrium. Assume the following events occur one at a time. Show the effect of each event on Aggregate Demand and Short-run Aggregate Supply in Canada by shifting only one curve.
After her final exam this semester, Sylvia must drive from her school in Philadelphia to her home in upstate New York-What are Sylvia's expected .ne, expected wealth, and expected utility if she travels through PA?
Using above demanded schedule, find out the elasticity of demand for each price change. (Example: when price changes from $5 to $10, quantity demanded changes from 1000 to 800 oz., so the elasticity of demand, by using average values, is 1/3 or 0...
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