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1. Who benefits and who loses from a tariff? What is the new outcome for society?
2. What disadvantages exist if your country has a strong currency?
3. Consider the following table for the neighboring nations of Quahog and Pawnee. Assume that the opportunity cost of producing each good is constant.
a. What is the opportunity cost of producing meatballs in Quahog? What is the opportunity cost of producing clams in Quahog?
b. What is the opportunity cost of producing meatballs in Pawnee? What is the opportunity cost of producing clams in Pawnee?
c. Based on your answers in parts (a) and (b), which nation has a comparative advantage in producing meatballs? Which nation has a comparative advantage in producing clams?
An investor lends $10,000 today, to be repaid in a lump sum at the end of 10 years with interest at 10% (=im) compounded annually. What is the real rate of return, assuming that the general price inflation rate is 2.7% annually.
From the following list, indicate which curves you will request: average total cost, average fixed cost, average variable cost, marginal cost, demand, marginal revenue.
a sewage treatment plant and deposit sufficient money in a perpetual trust fund to pay the $5000 per year operating cost and to replace the treatment plant every 40 years. The plant will cost $150,000, and future replacement plants will also cost
The peanuts are the only thing to eat. In this economy with two people, one commodity and no production represent that possible allocations in a diagram, and explain why every allocation is Pareto efficient. Is every allocation fair?
Read Eye on Price Regulation on p. 179 and explain why a mismatch between intention and outcome is inevitable if a price regulation seeks to block the laws of supply and demand.
For the same loan described under Q3, the individual decides that instead of selling the house after the 71st payment, to keep it and shorten the pay off period by increasing the montly payment by $150 each month. What is the number of months re..
In each of the following, solve the given quadratic equation exactly using the quadratic formula. Write the solutions in its simplest form. Using a calculator, determine all irrational solutions to the nearest thousandth.
One U.S. dollar exchanged for 0.7587 euros. One euro exchanged for 130.963 Japanese yen.
Bob is proud of the film and wants as many people as possible to download it. Which price would he choose? How many downloads would be sold?
The three demand schedules in the table below show how many rounds of golf per year Lorena will demand at each price under three different scenarios. In scenario D1, Lorena's income is $50,000 per year and movies cost $9 each.
Why is there a tendency to focus on large firms rather than small or medium-sized firms? Have the corporate ethics scandal of the past decade affected small- and medium-sized firm? If so, in what ways have these firms been affected?
In positive psychology, how does the concept of hope go beyond "sunny advice"? Why may hope be particularly relevant to entrepreneurship and international human resource management?
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