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1. True or False: Optimal tariffs are an effective means of improving a nation's trade balance
2. True or False. Explain: Assume 1990 to be the base year. If by the end of 2004 a country's export price index rose from 100 to 130 while its import price index rose from 100 to 115, its terms of trade would equal 113.
3. True or False: If quotas are administered by exporting nations, the net welfare loss to the importing nation includes the productive, consumption and revenue effect.
4. True or False: A small country's subsidy of an export good will drive down the world price of the good.
5. True or False: Tariffs, unlike quotas, promote a domestic firm's monopoly power.
a bookstore opens across the street from the university book store ubs. the new store carries the same textbooks but
When obama was campaiging for president in 2008 he proposed more government spending paid for with higher taxes on the rich. What impact would those options have on the equilibrium?
Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run. In your analysis, make sure to relate an exa..
Assume that the u.s. has 400 units of K (capital) and 300 units of L (labor) while Mexico has 75 whits of K and 125 units of L. In both countries it takes 3K/L to produce each unit of X but only 2K/L to produce each unit of Y. Which nation has the co..
Jay's Silk Printing Co. is located in a small university town. The major portion of their business is custom printed sweatshirts for university bookstores. As a sideline, they also retail sweatshirts locally. The local demand for sweatshirts is: Q..
free trade is best defined as a system in which goods capital and labor flow freely between nations without barriers
The head of the accounting department at a major software manufacturer has asked you to put together a pro forma statement of the company's value under several possible growth scenarios and the assumption that the company’s many divisions will remain..
Is economics a science? Why or why not? Use detailed examples and counter-examples demonstrating your grasp of this concept.
Suppose that Total Revenue = 100Q and Total Cost = 30 + 50Q where Q, the quantity sold, is a random variable with expected value 20 and variance 4.
Both industrial unions and craft unions attempt to raise their members' wages, but each goes about it differently. Explain the diffeence in approaches and describe the impact these differences have on excess quantity of labor supplied.
the management of regional hospital has made substantial improvements in their hospital and would like to test and
Summarize the recent policy of the Federal Reserve concerning the level of interest rates and the reasons for this policy. Do you agree with this policy? Why or why not?
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