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1) (a) Discuss the advantages and disadvantages of free international trade.
(b) Assume that two countries are competitors in the international trade markets. The two governments are thinking about whether it is profitable to adopt a free trade policy or not. The entries in the table below are showing (in millions of pounds) the gains of each policy. Find the Nash equilibrium. Analyse how you conclude to your answer.
Country A
Free Trade Policy
Imposing Restrictions
Country B
60,60
20,70
70,20
30,30
(c) Modify your answer when the table of gains are changed as:
70,80
70,70
80,60
2) (a) Imagine that you are Minister of Finance in a country which is in the middle of a recession. Discuss the economic policies that you can implement to improve the economy and the consequences of such policies if you identify yourself as:
(i) Keynesian giving emphasis in the demand-side of the economy
(ii) Monetarist
(iii) An economist giving emphasis only to the supply side of the economy
(b) Explain why under fixed exchange rates the monetary policy is not effective.
Assume a 2 sector economy (where the two sectors are consumption and investment) where C= $100+ 0.9 Y and I=$50
Differentiate at least two different eighteen month forecasts for Gross Domestic Product (US) and graph them. Include a reconciliation of differences between forecasts for GDP and a rationalization for which forecast you believe is most accurate.
What is the difference between the medium of exchange and the store of value? What is the difference between commodity money and fiat money?
Explain how the invisible hand fights back when government try to overrule market forces with price controls.
Illustrate what happens to the dollar price of the dinar. Does the dinar appreciate or depreciate relative to the dollar.
The BLS estimates that in 2002, the number of working-age adults was 211.9 million, labour force was 141.8 million, and the total number of employed was 135.1 million. Calculate the following:
Now assume that these outputs comprise all of GDP. Keeping 1992 as the base year, Elucidate the GDP deflator for 1993.
You are the manager of specific location sales for a national company that provides, among other things, cable television service.
Elucidate what would be the budget request for FY13 for this effort.
Elucidate how would this technological change affect the price elasticity of demand for natural gas
Compute the four-firm concentration ratio (C4) before the merger. Show your work and round your answer to 4 decimal places.
Assume the construction of the $360M stadium is to be financed entirely with debt to be repaid over 20 years.
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