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What would be a good description of the "difference" between APEC and the EU?
APEC seeks more protectionism, the EU seems more free trade
Both seek free trade but APEC goes further like eliminating international borders
Both seek free trade but the EU goes further like having a common currency
Both seek free trade with each other but both consider America an economic enemy
A recessionary expenditure gap in a mixed open economy can be measured as the extent to which cumulative expenditures
A machine is purchased for $56,000 with a useful life of 5 years, after which, it is estimated to be worth $5,000. The machine will be operating 2,500 hours per year with annual maintenance and operating costs of $6,000. Using an interest rate of ..
The Venezuelan bolivar has been steadily depreciating against the US dollar, but the government wishes to stop the depreciation. What must the Banco Central de Venezuela do to stabilize the exchange rate? Is there a limit to how much it can intervene..
What is the equilibrium price of books? What is the equilibrium quantity of books sold? When a price floor of $25 is instituted, compare the Quantity Supply and Quantity Demand. What happens when a price floor of $10 is instituted?
Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you expect will happen to
Based on the Solow model’s conclusions about population growth, comment on the effects of immigration on a country’s: (a) aggregate output level; (b) capital-labor ratio. (Note: in this case we’re concerned with the level of population, rather than t..
Suppose we accept all the assumptions of the Akerlof model, except the assumption about buyers' and sellers' information. Let's now instead assume that neither
In an application of the Harrod-Domar model, suppose the only final-goods industry in a country is the making of cotton shirts. The factories, machinery and warehouses used in production were purchased previously and are still worth $3 billion. What ..
In "Kitchen Nightmares," Chef Gordon Ramsay visits struggling restaurants and gives the owners of the restaurant a number of recommendations intended to reverse the restaurant's prospects. Explain how the recommendation is an application of Economies..
Find an example of an economic announcement having a strong effect on the stock market. Your example need not be from the US, and it need not be current. Explai
If we assume only one factor (labor), we can demonstrate on the PPF the opportunity cost of producing less of one good and more of the other good by:
If there were a decrease in the market demand for a product with no change in market supply, the equilibrium price would:
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