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By appealing to the concept of social indifference curves, explain clearly how the program of maximizing society's welfare subject to its PPF is solved analytically under autarky? How is this also solved under trade in the Ricardian model?
What is meant by the term economic integration? What are the various stages that economic integration can take? Under the European Union's common agricultural policy, a variable import levy equals the:
Suppose that a concert hall faces the following demand curve for its evening shows: QE =40−.8P and the following demand for its afternoon shows: QA =24−.8P where Q is the number of tickets in thousands and P is the price of a ticket in dollars. What ..
We saw that a $10 Billion increase in government spending decreases public savings and therefore reduces national savings, and will reduce equilibrium private investment and increase interest rates as well. A $10 Billion tax cut will decrease governm..
Weigh the risk also benefits of outsourcing internationally by corporate America for the standard working person.
What is the relationship of marginal productivity and wage rates? How does value of productivity determine wage rates. Why do engineers earn more than a person working in a fast food restaurant?
Select any two of the four basic strategies used to preserve security. Identify and describe what assumptions are made about the opponent according to each of the two strategies you chose; provide examples
Unemployment caused by a contraction in the economy is called
An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price of $2/unit of food. Assume instead that the government had given the individual $100 in cash. Draw the new budget constrain..
Suppose you are hired by the Martin guitar company as an economic consultant. You estimate the demand for Martin guitars to be Q = 8000 - 2P. Suppose the supply of Martin Guitars is given by Q = -2000 +3P. What is the equilibrium price of Martin guit..
Equipment purchased 2 years ago for $70,000 was expected to have a useful life of 5 years with a $5,000 salvage value. Its performance was less tha expected and it was upgraded for $30,000 one year ago. If replaced the existing equipment will be sold..
How to understand economic inequality? how to measure economic inequality ? what's the role of government to solve the problem inequality?
One reason for raising interest rates was the prospect of a refinancing issue: a $12 billion issue matures April 1, and the government is expected to seek some new money, in excess of its refinancing needs. Why doesn't the government get the central ..
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