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What is the difference between the terms offshoring and outsourcing and why can we take the liberty to use these terms synonymously? Why a Canadian firm may choose offshoring rather than domestic production? Using a graph, explain the changes in the relative wage of high skilled workers to low skilled workers as more and more advanced stages of the production process are offshored.
Please explain what is "economic incidence of the tax".
John bought a home after graduation and he is saving for the closing costs ($3000) and down payment. To avoid paying mortgage insurance and to get a better interest rate, he needs a down payment of 20%. He can afford a monthly payment of $700 based ..
If my stock in the European stock market rises by 20%, what movement would need to occur to cause me to lose money on my transaction.
Specification limits for hardness are from 35 to 45. When the fraction defective is 0.0017 what is the corresponding PPM?
Vulcan can produce 15 tons of macadamia nuts if it produces no bananas or 30 tons of bananas if it produces no macadamia nuts. Use the line drawing tool to draw the linear production possibilities frontier that illustrates this trade-off between prod..
A drug patent gives a pharmaceutical firm a monopoly. Draw and label the supply and demand curves for a drug. Then demonstrate how having a monopoly changes that equilibrium. How does this impact consumer surplus? What actions can the government take..
Explain: Because it is better to be safe than sorry, ie to exhibit precaution, the government should ban adoption of technologies like genetically modified organisms and medicines like ebola treatments until such innovations are proven to pose no ris..
What are some solutions for solving the minimum wages problem in America?
Write down the outcome space, i.e., the space of all possible valid outcomes in this lottery. For example, a valid outcome is the draw (1, 4)
Under either a gold standard or a pegged-rate system, what changes in the money supply are necessary in order for effective adjustment to take place? Why are these changes necessary?
Thinking of your own consumer tendencies, provide an example and explain how the law of diminishing marginal utility applies to your personal consumption patterns and how the utility-maximization rule and the income and substitution effects play a ro..
How is Money Supply controlled and what is the relationship between money and inflation? Using the money market
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