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Suppose that A is a small open economy that takes world prices as given. What would be the effect on wages and rents in A if it were to experience an inflow of foreign capital Use a diagram to explain your answer. Which groups would favor this capital inflow? Which would oppose it? Explain
Many economists think that we are in the very early stages of putting computer technology to work and that full incorporation of computers will cause a massive restructuring of virtually every institution of modern life. If they are right, what ar..
Why is the concept of elasticity important? What does it tell economists? Tell whether you would classify automobile production as either elastic or inelastic in the short run and long run. (Keep in mind that we are talking here about supply elas..
Most people are consumers, making demand decisions in product markets, and also workers, making supply decisions in resource markets. How do workers choose how much of their labor service they are willing to sell Is the quantity supplied likely to ..
The demand for personal computers can be characterized by following point elasticity = -5, cross-price elasticity with software = -4, and income elasticity = 2.5. Indicate whether each of following statements is true or false, and describe your an..
Explain the connections that exist between female labor force participation and divorce. Use your analysis to predict the patterns of divorce and female labor force participation over the next decade.
1. began in France with the development of the steam engine and then spread to the UK and the United States. 2. began in 1550 when the English learned how to use coal to replace wood as a heat source and spread to france and eventually the United S..
Identify each as being consistent with risk averse, risk neutral or risk seeking behavior in investment project selection. Explain.
Estimates of the maximum amounts of output possible with different combinations of two input factors, X and Y.
Explain how each of the events described above, affected the world market for oil. Specifically, use a supply and demand diagram to explain changes in price and output.
The population proportion of economists predicting growth of at least 2.5% in real gross domestic product. The variance of the sample proportion of economists predicting growth of at least 2.5% in real gross domestic production.
the buyer values and seller costs for another experiment in which students are buying and selling used textbooks. In this experiment, the seller pays the tax. Suppose that traders who are indifferent between trading and not trading go ahead and trade..
Determine how does globalization lead to greater competition in market place? Discuss the implications for market structure in industries opened to global competition?
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