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What types of products does the US export and what types of products do we import?
Why do you think those are the products we export or import?
How does the strength of the dollar impact imports and exports?
Where appropriate, cite examples from your text or other readings.
Define ex,I and ey,I to be income elasticities for goods x and y. Define sx and sy to be income shares for x and y.
A competitive advantage furthermore earns a life span income of $6 million moreover the non-steroid user earns $1 million.
Jim sees commuting by bus and T as perfect substitutes (U = T + B), that is, he would exchange one commute by bus for one commute by T. The price of a bus ticket is $1.50 and the price of a T ticket is $2.00. Explain the relationship between the slo..
Calculate the own price elasticity of demand for the demand curve P= 15-3X at prices and compare the outcomes.
the european engine company eec is a multi-national manufacturer of small gasoline and diesel motors. eec has predicted
Suppose that a company invents a better machine for mixing the ingredients to make chocolate candies. What would happen to equilibrium price and quantity in the market for Godiva chocolate? Be able to draw the graph that illustrates your answer.
Assume that a nation’s marginal propensity to consume is 0.9, and that its potential GDP exceeds its actual real GDP by $5000. By how much should that nations government change taxes in order to completely close that GDP gap?
Retail sales taxes are used at the state and local level to finance general fund expenditures. In other words, the tax revenue collected via the sales tax is not tied directly tied to benefits received by each taxpayer. Retail sales tax fair? (9 poin..
Supply curve is given by L = 20w. What equilibrium wage rate and quantity is of labour hired. What is economic rent earned by workers.
Draw a supply and demand curve, label X & Y axis and show equilibrium. Show a shift in demand and supply, and why it has occurred (non-price determinants). Describe all changes. Show in two or more graphs and use 2 examples for each - supply and dema..
As an industry moves from being a monopoly to a monopolistically competitive one (due to entry of new competitors as monopoly's patents expire, for example), what happens to elasticity of demand curve facing firm.
When looking at the role of tax cuts, you will find out that this can be effective for our economy.
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