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When is international trade an opportunity for workers?
In a committee meeting of the United Nations you are considering the following questions:
1. When is international trade an opportunity for workers? When is it a threat to workers?
2. What are some of the major challenges confronting the international trading system?
Draw a diagram showing the current situation of the firm. In addition to the above information, suppose the price of the output is $13/unit, if the firm wants to maximize its profit, what should it do? Explain in detail with the aid of a diagram.
Assume that the Federal Reserve acts to lower interest rates. How this will affect the U.S. economy.
Most customer oppose these laws because they find Sunday afternoon a good time to shop, however retail trade associations support these laws.
Assume the situations faced by the subsiquent individuals. Who gains and who loses.
Explain how will reduced smokers affect the GDP in the long and short run. What does increased revenue from cigarette taxes do to the deficit and budget.
Use both an individual's indifference curve and budget line, and the aggregate labor supply curve to explain and illustrate your answer.
Consolidated Drugs, Inc. has spent $4 million developing and testing a new anti-aging drug. Management now estimates that it will cost $2 million to produce and market this new product.
Consider economy that is above full-employment equilibrium (natural rate of output) because of an increase in AD. Prices of productive resources have'nt changed. With the help of graph
Explain how have monetary and fiscal policies affected the prices of the product the petroleum industry produces.
Explain how would the subsiquent changes in price affect total revenue. What are the major determinants of price elasticity of demand.
Illustrate the point price, income, also cross elasticities at the present values. Interpret your answers, saying how much a 1% change in each variable impacts demand.
"Most of the firms spend considerable amounts of money on advertisement". Explain advertising elasticity of demand and its practical applications in this context.
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