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Following WWII, a rift emerged between the capitalist nations of the West and the communist nations of the East after World War II. In an attempt to orchestrate the economic and internal affairs of Eastern European communist nations, the Soviet Union instituted the Brezhnev Doctrine. Another major communist power to emerge during this period was China. Under the leadership of Mao Zedong, the Chinese communists took control of the country in 1949 after a long civil war. While both China and the USSR rose to be major communist powers, they did not always agree on policies, as demonstrated in the Anti-Soviet Policy of Communist China.
In your initial response, discuss how the source demonstrates the different relationships that the Chinese and the USSR had with Western nations. What complaints did the Soviet Communist Party have with the Communist Party of China? What specific policies did they view as anti-Soviet and why? What historical events demonstrate these various relationships?
Price elasticity of demand is just a number. Economists may not necessarily be interested in the size of this number, but whether its absolute value is greater than, less than or equal to one. Comment on this statement. Explain whether commodities th..
Be able to examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives
Discuss and explain similarities and differences in the roles economists play as policy makers and as scientists.
What will be the monthly payment on a 30-year, $250,000 mortgage loan, where the interest rate is 6% per year, compounded monthly? How much interest is paid over the life of the loan? What will be the monthly payment on a 30-year, $250,000 mortgage l..
Download and Read "Questions about Fiscal Policy: Implications from the Financial Crisis of 2008-2009." By N. Gregory Mankiw. After reading the article, answer the following questions: During the crisis of 2008-2009, the Obama's administration's stim..
Suppose the labour market in the house cleaning industry in Quebec City can be described by the following demand and supply equations: LD = 400 - 10w and LS = 40 + 20w. Calculate the equilibrium wage and employment if the market is free.
Explain customer-perceived value. Explain total customer satisfaction. What valuable functions can brands perform for a firm?
how many hours you spend playing. How much time should you spend studying microeconomics?
Calculate the arc cross-price elasticity of demand for JJT's deluxe garment bag. B. JJT's deluxe garment bag sales recovered from 4,800 units to 6,000 units following a price reduction to $130 per unit.
The LIBOR zero curve is flat at 5% (continuously compounded) out to 1.5 years. Swap rates for 2- and 3-year semiannual pay swaps are 5.4% and 5.6%, respectively. Estimate the LIBOR zero rates for maturities of 2.0, 2.5, and 3.0 years. (Assume that th..
Maria can read 20 pages of economics in a hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day studying. Draw Maria's production possibilities frontier for reading economics and sociology.
Suppose bad weather decreases the wheat harvest by 12 percent. If the price elasticity of demand for wheat is 0.6 in absolute terms, how would the crop failure affect the price of wheat? Would the crop decrease benefit or harm wheat farmers?
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