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a. In September 1995, Patrick Buchanan, a Republican candidate for president, proposed a 10 percent tariff on Japanese imports to the United States, a 20 percent tariff on Chinese imports to the United States, and an unspecified "social" tariff on imports from third-world countries. Use the long-run model of a small open economy to illustrate graphically the impact of these trade policies on the U.S. exchange rate and the trade balance. Assume that the country starts from a position of trade balance, i.e., exports equal imports. Be sure to label: i. the axes; ii. the curves; iii. the initial equilibrium values; iv. the direction the curves shift; and v. the new long-run equilibrium values.
b. Based on your graphical analysis, explain the predicted impact of Mr. Buchanan's proposed policies. Specifically state what happens to the exchange rate, the trade balance, the volume of imports, and the volume of exports.
If you are near graduation and plan to start your new job in 3 weeks, how does the Bureau of labor statistics classify you? Unemployed, employed or notin labor force.
Which of the subsequent represents a positive macroeconomic statement. Assume the United States can produce Toyotas at the cost.
Which of the subsequent goods with their respective income elasticity coefficients in parentheses will most likely suffer a decline in demand during a recession.
Insurance agents receive a commission on the policies they sell.
the various types of vehicles that can be used by clients to reduce the various kinds if taxation.
A monopolistically competitive industry such as baked goods also a perfectly competitive industry like wheat farming are alike
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Suppose that the demand for orange increases. Carefully explain how the rationing function of price will restore market equilibrium.
Alejandro scoobert owns a store specialization in soccer jerseys. Illustrate what was the value added to Alejandro store in 2008.
Wheat farmers will receive total revenues from consumers and the government totaling
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