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It is difficult to talk about the advantages of international "free trade" without referring to the institutional and historical context within which "free trade" is carried out. Discuss an example (or examples) of either hypothetical or historical instances where "free trade" would hinder or would help a nation develop.
A medical doctor who specializes in a particular field (e.g., surgery) generally earns more than a general practitioner because
Suppose you purchase a 30-year, zero-coupon bond with a yeild to maturity of 6%. You hold the bond for five years before selling it. If the bond's yield to maturity is 6% when you sell it, what is the internal rate of return on your invesment? If the..
A firm uses two inputs, X and Y and its production function is Q = ?(xy), where here we are using x and y to represent the quantities of the two inputs. (f) What is the firm’s marginal rate of technical substitution of X for Y, at the point where it ..
What are vertical equity and horizontal equity? Consider what is meant by the efficiency of a tax system?
Suppose the candle manufacturing industry is organized as a perfectly competitive market i.e. it consists of many firms with identical cost structures. A single firm's long-run average total cost function is “U” shaped and minimized at an output of q..
Total unemployment compensation increases during recessions with no change in benefit rates.
An individual has the following utility function: u(w) = w^.5 where w = wealth. Using expected utility, order the following prospects in terms of preference, from the most to the least preferred: Without doing any calculations, would the certainty eq..
The main reason that the Great Depression ended was:
Total revenue will increase for which of the following?
what amount of additional government spending (without changing taxes) would be needed to reach the desired increase of GDP? what change in total amount of direct taxes (without changing government spending) would be necessary to reach the same incre..
You inherit $45,000 and decide to invest it for 90 days compounded daily at 9% annual interest. After the 90 days, you are going to invest
In a vertically integrated firm, if the relative importance of administrative and transaction costs shifts from one to the other, what could the firm do?
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