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Q. Consider a small country that exports steel. Assume that a "pro-trade" government deicdes to subsidize the export of steel by paying a certain amount for each ton sold abroad. Elucidate how does this export subsidy affect the domestic price of steel, the quantity of steel produced, the quantity of steel consumed also the quantity of steel exported? Elucidate how does it affect consumer surplus, producer surplus, government revenue also total surplus? is it a good policy from the standpoint of economic efficiency?
Derive an expression for average cost. Derive an expression for marginal costs.
The social security system levies a tax on workers and pays benefits to the elderly. Suppose that Congress increases both the tax and benefit.
Conclude how the abatement levels should be reallocated across the 2 industries to minimize costs.
Consider a product market for a normal good. Suppose consumers' income increases. Explain what will happen to labor demand for firms in that market.
Which component of GDP is the most stable. Look for the smallest change from the year with the smallest contribution to GDP to the year with the largest contribution.
If Latanya plans to use the phone for one hour to talk with only one person, with whom would she rather speak.
Hana's rounded one-year rate of return earned from her purchase of the Treasury notes is equal to illustrate what %.
Define the wage gender gap as the difference in mean earnings between men also women.
The demand for MICHTEC's products is related to the state of the economy.
There are two identical firms in this economy with constant marginal costs equal to 1 and no fixed costs. Assume that firms set prices and follow a Bertrand model to do so.
The United States can make certain toys with greater productive efficiency than can the China. Yet we import those toys from China.
A county is considering using a piece of park land for one of two alternative recreation projects.
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