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1. How can there be any economic gains for a country from both importing and exporting the same good, like cars?
2. If the removal of trade barriers is so beneficial to international economic growth, why would a nation continue to restrict trade on some imported or exported products?
3. How can governments identify good candidates for infant industry protection? Can you suggest some key characteristics of good candidates? Why are industries like computers not good candidates for infant industry protection?
4. Name and define three policy tools for enacting protectionism.
Which methodology is the most robust? In other words, how well can it be adapted to suit different projects or circumstances? What is the underlying philosophy for each methodology?
(i) Derive an equation for the marginal rate of substitution (MRS). (ii) Calculate the MRS when the bundle is (X = 1 and Y =4) and the MRS when the bundle is (X = 4 andY = 1). (iii) Based on your answers are preferences described by the utility func..
How would an increase in a sales tax affect GDP? Is domestic investment the same as investment done in any other country?
Using a spreadsheet program or a calculator, solve Tracy's problem of how often to go to the ATM when the nominal interest rate on her bank account is 10%, she spends $30 each day, it costs her $0.50 each time she uses the ATM,
If the equilibrium price of Frisbees is $8 the equilibrium of supply an demand is 6. a price of $2 above equilibrium price is imposed. a)what type of restriction is this (b)what is the new market price (c)How many frisbees are sold
1. which of the following best illustrates the concept of the fact that people respond to incentives? jordan is
How do trade deficits and surpluses affect the industry in which you work?
Assume that Jim goes to work at age twenty-five, earns an average $40,000 a year for 40 years. He inherits $320,000 when he starts working. He expects to live to be 75.
A researcher is interested in the size of the current balance of credit card holders. To estimate this, he obtains the size of the current balance of a random sample of 25 credit card holders. A 90% confidence interval for the mean current balance..
Explain what happens if the government does not provide appropriate regulation. Determine the costs on society of government regulation.
Estimate the own-price elasticity for good X, the cross-price elasticity for goods X and R, and the income elasticity for good X and what would we expect to happen to quantity demanded
What are some of the macroeconomic problems that economists are working day and night to address?
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