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Tariffs and quotas are costly to consumers because:
The price of the imported good falls
The supply of the imported good increases
Import competition increases for domestic goods
Consumers have to switch to higher-priced domestic goods
Goods and services that are not sold in markets, such as food produced and consumed at home and some household articles, are generally not included in GDP
Considering a machine which will have an estimated service life of 10 years with a salvage value of 10% of the investment cost. Its expected saving from annual operating and maintenance costs are estimated to be $60,000.To expect a 15% rate of return..
Explain principles related to being an Ethical Employer. Compare and contrast with what is going on in a previous or current organization that you have worked with.
The demand equation for a company's product it Q = 500 - 3P + 2Pi + 0.1I where Q is the quantity demanded of its product, Pi is the price of its rival's product, and I is the per capita disposable income (in dollars). At present, p = $10, Pi = $20, a..
Let the price of Barbancourt (the Haitian Rum) be $15 a bottle in 2000 and $25 in 2010, and its production 5000 and 7500 bottles respectively for the two years. Let the price of a bag of rice be $20 in 2000 and $35 in 2010, when its production is 100..
If due to over-harvesting of coconuts they become more difficult to acquire, taking 2 hours to pick one coconut, Illustrate what combination will maximize utility.
You may have heard from the news some commentators saying that the Federal Reserve, when pursuing an expansionary monetary policy, engages in "helicopter money." People hold equal amounts of currency and demand deposits. Banks hold 20 percent of dep..
Consideration is being given to the investment of $420,000 at time zero for machinery and equipment to be depreciated using 7 year straight line depreciation starting in year 1 with the half-year convention. Annual sales are projected to be $450,000 ..
Larger firms produce a product at larger average cost than small firms when:
Do you think the MP (marginal productivity) figures in the presentation are based on a single variable factor, or all factors of production? Why? In the paper, what other input factors are necessary to make the holiday wreaths?
In the packing department, a worker stands sideways between the end of a conveyor and a pallet. The surface of the conveyor is 40 in from the floor, and the top of the pallet is 6 in from the floor. As a box moves to the end of the conveyor, the work..
Explain how unemployment impacts various groups of workers differently. Describe the pros and cons of the US unemployment compensation system. Describe the pros and cons of inflation. Explain the challenges created by unanticipated inflation.
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