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1. Briefly discuss the two problems that arise when considering the resource use in travel and tourism.
2. Why are the rewards for resource use in tourism often low? List and discuss various reasons.
What percent of the tax is borne by buyers. If income rises to $40,000, how much will tax revenue rise.
The firm increases its entire size until it makes 30,000 units a week. What would total cost be if the firm faces constant returns to scale?
In the core of cooperative games, the total cost of forming a coalition is shared by all members in a coalition (efficiency). what is the solution concept that only requires stability and does not carry the notion of efficiency?
What is the rate of inflation of the U.S. dollar is 5% and the rate of inflation of the Japanese yen is 2%. What is the percent change in the real $/Y exchange rate.
q1. analyze the potential downfalls of any effort e.g. free riders and make at least one recommendation for minimizing
Identify the four major tools of monetary policy. Describe how a change in the Fed’s major policy tools leads to [1] expansionary and [2] restrictive or contraction monetary policies.
What is the market equilibrium cost. What is the equilibrium number of firms in the market.
What is the Bretton Woods system? Why was it created and why did it collapse? How has this collapse ushered in more volatile exchange rate and frequent financial crises?
How would the effects of international trade on the domestic orange market change in the world price of oranges were above the domestic equilibrium? Draw a graph to help explain your answer.
Which of the following is not an accurate description of what can cause inflation?
Consider an initial stock of 5000 tons of high grade ore. The demand function for this ore is P = 2400 – 0.2Q (Q is measured in tons/year), and the cost of extraction is constant at c = $200/ton. The discount rate is r = 0.10. Using a discount rate o..
Two persons, Abigail and Noah, each allocate their time between market work and housework. Abigail earns $12 per hour in the labor market, and can produce $18 worth of goods and services per hour at home. Draw their separate production possibilities ..
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