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While referring to the "EYE on YOUR LIFE" section on page 467 of the textbook, consider the trade policies that serve our self-interests and what best serves the global social interests. Base your answer on the economic concepts you have learned in this course.
For example, as U.S. consumers, we are the "winners" in globalization, which has brought iPods, Wii games, Nike shoes, and a wide range of other products to our shops at low prices. However, the big "losers" of globalization include the U.S. textile workers and furniture makers whose jobs disappeared overseas. Other "losers" include the African farmers whose crops were blocked by trade restrictions and subsidies in the United States and Europe.
What global social interests or responsibilities, if any, do we have as consumers to the losers of globalization? Discuss and justify your postings and responses with other students in our course.
Milton Freedman, the champion of the Monetarists School of Economics, basically proved that it was monetary theory, changes in the money supply, that was the only way to affect the economy. Pump priming was false.
If the economy is competitive so that factors of production are paid the value of their subsidiary products, what is the share of total income that will go to land.
Discuss how you would explain what this class was about to a friend of yours pondering taking the same class.
Consider an equilibrium in which someone is using the good. Is social welfare maxi- mized at this number of users, or would it go up if there were more users, or would it go up if there were fewer users? .
Consider a consumer with $10 to spend on these 2 goods where the price of apples is always $2 every.
Given what you know about the likely effects of climate change, how are people in different countries likely to value efforts to reduce the rate of global warming?
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Suppose now that the government reduces (t) and increases (t') so that the government budget constraint continues to hold. What will be the effects on an individual con-sumer's consumptionin present
Discuss whether or not oligopolies are always bad for society, using examples from the industries you described.
Why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values have changed so much in recent months.
Assuming that the current production rates are maintained at the three assembly plants, which alternative should management select?
Replace the machine with a new one costing $49K. Depreciation would be SL to zero over the 7 years of its life. Operating costs would be reduced by $7Kpa.
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