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1. Suppose the following data, and answer the question below. China and England are international trade partners. The following information are expected payoffs for the two countries.
Both China and England use a tariff; payoff equals -25 for both nations.Both China and England allow free trade; payoff equals 25 for both nations.China uses a tariff, but England allows free trade; payoff is 45 for China and -10 for England.England uses a tariff, but China allows free trade; payoff is 45 for England and -10 for China.
Which situation represents a Nash equilibrium, or the situation that occurs when both nations attempt to do what is in the best interest of each other, exclusively?a.Both China and England allow free trade.b.England uses a tariff, but China allows free tradec.China uses a tariff, but England allows free traded.Both nations impose a tariff
2. Describe the prisoner dilemma. Provide a numerical example using China and Mexico as the two countries, and use producing or not producing steel components as the two options facing each nation.
In September 1983, it took 245 Japanese yen to equal $1. More than twenty years later that exchange rate had fallen to 108 yen to $1.
With respect to aggregate supply and aggregate demand, what will be most likely to happen when quantity supplied exceeds the quantity demanded?
In 1981, the United State negotiated a contract with the Japanese. The contract called for Japanese auto firms to limit exports to the United State.
If the average price of goods in Europe increase from 100 in year 2000 to 130 in year 2010. If the average price of goods in the U.S. rises from 120 in year 2000 to 140 in year 2010.
May rise or reduce in absolute value as one moves southeast along an indifference curve, depending upon whether the substitution or income effect is dominant.
The firm produces a global positioning system that sells for $1,000 with costs of goods sold of 48 percent of sales. Compared to the US, China offers a 6 percent cost reduction
Information covering the most recent thirty days are given in the following table for the value per gallon of regular gasoline at a local station.
Assume the value of the French Franc in terms of dollar is 50 on October 12 , and 44 on October 17. Determine the Franc appreciated or depreciated against the dollar?
Sal's International is a popular haircutting and styling salon near campus of University of New Orleans. Four barbers work full-time and spend an average of fifteen minutes per customer.
Determine the role would technology play if there was a move to harmonization of accounting standards across countries? Explain your reasoning.
Is there a certain protocol that United State companies must follow when advertising in Singapore? I understand that advertisements cannot contain any hype.
My income is $300 a month, the price of good X is $4, and value of good Y is also $4. Given these prices & income, I purchase 50 units of X and 25 units of Y.
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