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Problem
It has been argued that the appreciation of the yen against the dollar in the early 1990s did not have the anticipated effect on U.S. imports from Japan partly because the extent of pass-through was reduced by Japanese exporters during this period. Briefly explain what is meant by "pass-through" and how Japanese exporters would have been behaving if the allegation in the previous sentence were true.
Briefly write and explain Friedman's methodology of "Positive Economics". Do you think the discrimination of economics as "normative" and "positive" is a logical move in building theory?
How the economy coordinates society's independent economic actors. A country's gross domestic product (GDP) and how it is defined and calculated.
In economics, what is the distinction between the short-run and long-run? Do these refer to specific time periods of actual time?
(a) A shop manager's annual gross salary is £29,400. A bonus of 3½% of the monthly gross salary is earned and paid in October. Deductions from salary in October are Income Tax and National Insurance. National Insurance deduction in October is 6¾% ..
If you could choose to work as many hours during the week as you wanted at a given per hour wage rate, to what level would the per hour wage rate have to be before you would begin to choose fewer hours to work
Is this a shortsighted policy or a rational one in view of the interests of union members? How does the answer depend on the model of trade?
Why did the Economist think the opposite would occur soon after Britain exited the ERM? In what way might ERM membership have gained credibility for British policy makers? (Britain entered the ERM in October 1990.)
Explain how economists are both scientists and policymakers and what principles society uses to allocate its scarce resources.
Explain one positive and negative externality that you have consumed. Analyze why the government has to be involved when an externality is present in the market. Identify one public and private good that you have consumed. Why does the government ..
Pick a product or service you use in your everyday life and describe the market for this product. For this paper we will use the UBER driving service. Please make sure to address the following questions: 1. What factors influence the demand for ..
Which country has an absolute advantage in the production of bicycles? Which country has an absolute advantage in the production of snowboards?
Wednesday the price changed to 1.8275. Compute your profit-loss in USD on Tuesday and Wednesday.
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