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1. Define tariffs
2. What is the impact of charging a tariff on imported products?
3. Why do governments make use of tariffs?
4. Define free trade.
5. Under a free Trade Agreement, how are tariffs affected?
6. Define currency fluctuation.
7. List 2 observations about the impact of having a Canadian dollar that is worth less than an American dollar.
8. At an exchange rate of $1 USD = $1.18 CDN, what is the value in Canadian dollars of a product that is purchased for $15 million USD? What if the CDN dollar is worth $1.05? Finally, at $1.45? (Search for a currency converter online to do this exercise)
What are the advantages of having a mixed economy?
How does the legalization of marijuana influence local economies relative to sale and distribution potential?
Define the law of diminishing returns, how does it differ from decreasing returns of scale
Suppose the production function for pasta is Q = 4kl. What is the long-run optimal input combination when Q = 16 , r = 4, and w = 36 ?
Describe three techniques or procedures that managers can use to determine whether a goal is difficult.
The "interest-only" mortgage typically converts later to a. Many years ago, the traditional mortgage loan structure specified. "Exotic" mortgages became popular in part because they allow someone of. Other things equal, increasing home prices tend to..
Research one orphan drug and its manufacturer. Describe how it has benefited society.
"What is the present value of $62000 to be received in 7 years if the interest rate is 8 percent?" "How much would Ihave to invest now in order to receive $62000 after 7 years, given an interest rate of 8 percent?"
Compare the efficiency of monopolistic and perfectly competitive markets. Discuss the economic factors that lead to the development of monopolies. Examples of monopolies include electric utilities, railroads, airlines, cable television, and sports le..
Read the article by David Author entitled "Why Are There Still so Many Jobs?". Then write a 300-450 word essay (around 1.5 to 2 double spaced typed pages) that (1) discusses five items you found of interest and (2) for each item, identify whether tha..
Under oligopolistic market conditions, a. the pricing actions of any one firm have no significant effect on the others b. the pricing actions of any one firm have a significant effect on the others c. no firm can have any control over its output pric..
The accompanying table shows the demand schedule for Vitamin D. Suppose the marginal cost of producing vitamin D is zero. Suppose that company A is the only producer of vitamin D and act as a monopolist.Suppose the company produces 40 units of vitami..
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