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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.
Suppose that increased international trade makes product markets more competitivein U.S., would we expect to observe an upward slope on the WS curve or the PS curve
Defective units that go undetected into final assemblies cost $22 each to replace. An inspection process, which would detect and remove all defectives, can be established to test se units.
Show how each of the following would initially affect a bank's assets and liabilities.
Austerity measures implemented in several European countries will mean lower level of government expenditures for these countries? For these countries, this would cause
Explain how many histories/game tree nodes are there where P2 has to move? P1.
The currency-deposit ratio has been and is likely to remain relatively stable. The ratio of non-transactions deposits to transactions deposits increased by a factor.
Suppose that your production facility can only produce 1,000,000 pills per year. Illustrate what is your optimal price and quantity given the production constraint.
Illustrate what is each firm's equilibrium output and profit if they behave noncooperatively. Use the Cournot model. Draw the firms' reaction curves and show the equilibrium.
What will the new Lerner Index be after some time with the new demand curve and market price of 30? What firms survive the new demand curve in the industry and why?
propose to model his tastes in the following way: For any 2 bundles A and B of "grams of cocaine" and "dollars of other consumption.
Consider a market where demand is d:p=24-Q and supply is s:p=2+Q. impose a specific tax t= $2 on each unit sold in the above market.
what is the opportunity cost of producing Toyotas in each country. Who has the comparative advantage in producing Chevrolets.
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