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A trade deficit means that a nation is receiving more goods and services from abroad than it is sending abroad. How can that be considered to be unfavourable?
Would you be willing to pay $20 a year more in personal income taxes for debt forgiveness? How about $200? How about $2,000?
What is free trade? What are its benefits? Identify and briefly discuss the three important implications of trade theory for business.
In recent years the States of Colorado and Washington have (for all practical purposes) legalized the recreational use of marijuana. Both advocates and opponents claimed that such laws would have observable effects on public revenues and expenditures..
A market consequence of the establishment of a price floor program is that price will be:
The World Bank projects that the world's population will increase from 7 billion to 8 billion in 2025. World output today is roughly $80 trillion. What is global per capita income today? What will per capita income be in 2025 if the world's economy d..
It is well known by now that industrial production (consumer products and services) usually entails pollution of some sort and often hazardous production practices; yet this production continues.
Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently $1.00 per poster. What is her AFC per poster if she prints 10,000 posters? What is her ATC per poster if she prints 1,000..
Suppose that consumer price index at year-end 2011 was 150 and by tear-end 2012 had risen to 160. What will be the inflation rate during 2012?
Under monopoly, still with the price PW which is again label triangle of consumer surplus and the triangle of producer surplus.
Suppose there are two goods being produced in the economy: robots and wheat. Robots are a capital intensive good and wheat is a labor intensive good. Suppose that there are two countries: France and Brazil. France is capital abundant and Brazil is la..
A neighborhood convenience store is generally able to charge a higher price for its candy bars than the town’s Wal-Mart Super Center because the convenience store:
Consider a competitive industry in which each firm has the same production technology given by the production function q = K1/3L2/3, where K and L are two inputs and q is the amount of output. The unit price of K is $0.50 and the unit price of L is $..
Ten equal annual deposits, $A, are followed by 5 annual withdrawals. The first withdrawal of $12,000 is made at the end of year 11 and each subsequent withdrawal increases at the rate of 8% per year over the previous year’s withdrawal. Which of the f..
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