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A tax imposed on imports is called:A tariffA quotaA comparative advantageAn excise taxQuestion 2This result proposes that private parties (consumers and producers) can solve the problem of externalities on their own.A tariffScarce TheoremSocial Optimum TheoremCoase TheoremQuestion 3Two important characteristics of a public good are:Non-excludable and non-rival in consumptionExcludable but non-rival in consumptionNon-excludable but rival in consumptionexcludable and rival in consumptionQuestion 4The Tragedy of The Commons is a parable that illustrates:resources commonly owned are used more than is desirableresources that are privately owned are used efficientlyresources that are owned by the government are more efficiently usedresources that are privately owned are used more than desirableQuestion 5The impact of one person's actions on the well-being of a bystander is called a(n):SupplyMarketExternalityProperty RightsQuestion 6What criterion could you use to determine whether a small country named "Isoland" is a net importer of oil?The world price is below the domestic price in IsolandThe world price is above the domestic price in IsolandThe world price equals the domestic price in IsolandTHe world price fluctuates above and below the domestic price in IsolandQuestion 7For a net importer country, a tax on imports causes:more imports and gains in total surplusmore imports and loss of total surplusless imports and loss of total surplusless imports and gains in total surplusQuestion 8If you as an economic adviser recommend the government of Isoland (a small country) to allow free trade and steel to be imported from other countries, the steel industry at Isoland most likely will oppose your decision arguing:trade destroys domestic jobssteel is used to produce guns and tanks, therefore it is a threat to national security to allow imports from other countriesother countries that export to us are subsidizing their own industry and Isoland does notany of the aboveQuestion 9Which one below applies to an industry that produces a negative externality?the social cost and private cost are the samethe social cost exceeds the private costthe private cost exceeds the social costthe social cost is unrelated to the private costQuestion 10What explains that marginal cost increases as production of a product increases?inreasing cost lawdecreasing average cost propertydiminishing marginal product propertylaw of increasing marginals
q.many developing countries in the global south turned to socialism in the past as a means to solve their economic
It is a common belief that social security benefits will run out in the near future. How can we save social security?
Explain an economy is initially in equilibrium at the natural level. The central bank increases the money supply.
q1. are recessions a necessary fact of macroeconomic life? if not illustrate what would it take to eliminate them? if
Illustrate what is difference between contractionary and expansionary monetary policy. Illustrate what are pros and cons of using expansionary.
Traffic manager of Monarch Electric Company has just received a rate reduction offer from a trucking company for shipment of fractional horse power motors to company's field warehouse. Should company implement new rate.
Over the course of this month he has to deliver to 50 spots. To do this job he has 4 possible combinations of output that he can use
Would you provide the possible reason to explain why the expansionary fiscal policy doesn't work in those countries?
q.this has 3 parts so id like it to use my 3 questions if it can be counted as 1 please.alchem l is the price leader in
q. suppose that at the equilibrium price and quantity the marginal revenue is -15 and the price elasticity of demand
Currently, the retailer sells 50 suits per week for $200 each. The retailer wants to sell the entire stock of 200 suits during the next year. What should be the sales price?
If you have to make a random guess and there are four possible answers, what is the expected value of guessing?
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