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The US International Trade Commission's committee in charge of the global safeguard investigation involving imports of steel has announced its recommendations to be forwarded to the president. Of the 33 steel product categories investigated, 12 have experienced a significant increase in the quantity of imported steel, causing serious injury or the threat of serious injury to the US steel industry. The commission has recommended that the president impose a 20 percent tariff on these 12 categories of imported steel. If the president follows the commission's recommendations, what will happen to the supply of foreign steel in these categories? What impact will this have on the equilibrium quantity of steel sold (in these categories) in the United States? Will the equilibrium price for these categories of steel in the United States market increase or decrease? Explain.
During the Great Depression, the US economy experienced many bank runs, to the point where people became unwilling to keep their money in banks, preferring to hold on to their cash. How would you expect such a shift away from checkable deposits
Discuss and explain the key features of an oligopolistic industry. Illustrate your answer with reference to an industry of your selection.
Is the U.S. truly an economy that promotes competition and do you think about the markets where major oligopolies exist, for instance soft drinks or fast foods and automobile producing,
The nations of Figistan and Blah are small island nations in South Pacific. Both manufacture fruit and timber. Each island has a labor force of 1,200. The table listed below gives production per month per worker in each nation:
Terrorist attacks foster instability and may affect productivity over the short and long term. Do you think the September 11, 2001, terrorist attacks on the World Trade Center and the Pentagon affected short
If the college had to charge the same tuition to all students, would it accept lowhincome applicant?
When the British government tripled university fees for foreign students in Great Britain, about one-half of them left to study in other countries." What is the implied price elasticity of demand by foreigners for a British education is (in absolu..
In Canada, law suits against pharmaceutical companies and medical professionals are prohibited by law. Therefore, the prescription drug industry in the U.S. should be more regulated and subject to price controls
Discuss and explain the major provisions of the North American Free trade Area (NAFTA) agreement. Briefly discuss the major benefits of NAFTA to the U.S. economy.
China's central bank will raise its reserve ration requirement by a percentage point to a record 17.5 percent by June 25, stepping up a battle to contain lending growth. The increase will freeze up about 422 billion yuan of funds, equivalent to 9..
In the 2000 US Presidential contest, Al Gore was advised by his strategists to wait for George W. Bush to announce his vice-presidential running mate before making his own decision on a running mate. Under what circumstances would Gore be better o..
Why do economists pay more attention to national economies (for example, the U.S. or Canadian economies) than to state or provincial economies (such as California or Ontario)
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