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1. Under the gold standard, there was penalty for running a payments deficit but no penalty for running a payments surplus. Explain.
2.The Bretton Woods Agreement was intended, in part, to make adjustment more symmetric between deficit and surplus countries. Explain.
3.What are the components of the current account, the financial account, the official reserve account?
Suppose a monopoly manufacturer sells directly to a monopoly retailer. What are the implications in regard to price, output, and profits as compared to the case where the monopoly manufacture and monopoly retailer merge
Libertyville has two optometrists, Dr. Jones (J) and Dr. Smith (S). Each optometrist can choose to advertise his service or not. The net revenue to each optometrist, in thousands of dollars, is listed on the payoff matrix below
A small open economy produces two goods: Manufacturing (m) and Agriculture (a). Production of manufacturing uses capital (K) and labor (L) while production of agriculture uses land (T) and labor (L), i.e. capital is a factor of production specific..
Victory Visa, Magnificent Master Card, and Amazing Express are credit card companies that charge different interest on overdue accounts. Victory Visa charges 26% compounded daily, Magnificent Master Card charges 28% compounded weekly, and Amazing ..
methamphetamine meth is an addictive synthetic drug made chiefly in small toxic labs stls in homes tents barns or hotel
What Is the pros & cons of giving the FDA more authority over pharmaceutical and marketing companies?
Consider an industry described as a duopoly consisting of two symmetric firms producing homogeneous product. Inverse demand function is P = 1500 -10Q and each firm has a marginal cost of $20 with fixed cost of zero.
In a practical sense, write your opinions on the effect a rule stating that university students must live in university dormitories would have on the price elasticity of demand for dormitory space.
given the following supply and demand modelqd a - bp eyo demandqs -c dp fpr supplyqd qs
What is the profit maximizing level of output for this monopolist? What price will the firm charge? What profit will the firm earn and what are your answers to (a) if average consumer income is $30,000?
Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns, absolute advantage or comparative advantage? Why?
1. Why is there such a difference in Asia's share of global real GDP, depending on whether the computation uses purchasing power parties or exchange rates 2. Why is Asia's "economic size" so much smaller on a per capita basis than on an absolute ba..
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