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Weigh the major differences among and similarities between the economic models of Canada, U.S., and Mexico in each period above, and make an argument about the significance of the concept of a “continental economy of North America”. How interdependent have the economies of the three countries been over time? How independent have they been? Have differences outweighed similarities, or vice versa, and when?
Explain how the reduction in supply from the reduced fishing waters will either increase or decrease consumer surplus and producer surplus.
Monopolistic competition is like monopoly in that:
With the signing of NAFTA in 1994, the U.S.A., Canada, and Mexico entered into a trade agreement that had the potential to be much beneficial to all parties. Who was opposed to this free trade agreement? What were there reasons for being against it? ..
Consider a firm where production depends on two inputs—labor and capital. The firm starts using a production process that causes it to use much less labor as a fraction of its costs. How do you predict that this change will affect the firm’s elastici..
If Social Security were considered part of the general budget then,
Many economists claim that the property tax is the superior tax for municipal governments. Do you agree or disagree? What are the pros and cons of the property tax? If you were advising a city with respect to the property tax and how much the city sh..
Higher levels of savings and investment characteristically lead to higher rates of economic growth. What can government do to encourage more savings and investment?
In economics, inflation is considered as a tax. There are also various costs of inflation. What is the inflation tax, and how might it explain the creation of inflation by a central bank? Explain how inflation affects savings and investment.
In the short run if the output growth is just 2% for two years and the equation determining the real interest rate changes to: r=4.5-%?Y, what money growth rate should the Fed aim for to hit its inflation target in that period?
Consumer A values good 1 at $4,500 and good 2 at $1,500. Consumer B values good 1 at $5,000 and good 2 at $1,000. Costs are zero. Suppose the monopolist only sold the goods separately. What prices will the monopolist charge for good 2 to maximize rev..
Research one case of trade restriction, implemented by any nation. Research your topic, using at least 2 sources, and write a brief report (approximately 2 pages) on your findings. Scoring Guide-International Economics, Scoring Standard
Petunia is receiving $43328.0 semi-annually (twice a year) from an annuity that pays a nominal annual rate of 5.0% compounded semi-annually. She will receive this for 15.0 years. What is the present worth of the annuity?
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