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How long must a quota be in effect to have an impact? Using a demand-and-supply diagram, illustrate and explain the net welfare loss from imposing such a quota. Under what circumstances would the net welfare loss from an import quota exceed the net welfare loss from an equivalent tariff (one that results in the same price and import level as the quota)?
What does the vertical distance between the horizontal axis and any point on a pure competitors demand curve measure.
Demonstrate, using supply and demand analysis, the effect on the equilibrium price and quantity of new hybrid automobiles when the following occurs.
Illustrate what adjustments are required for China to rebalance its current account. Illustrate what risks are inherent in such adjustments.
Sheila budgets $9 per week for her morning coffee with milk. She likes it only if it is prepared with 4 parts of coffee and 1 part milk.
Utilizing a graph of equilibrium in the housing market, describe carefully which parties win and which parties lose from rent control.
How does the real wage rate at point c compare with the real wage rate at point a. How do nominal wage rates compare at those two points.
This declaration would perhaps receive general agreement, but it is not always clear exactly Illustrate what concludes when something is in the public interest.
For every of the subsequent goods, indicate whether you expect demand to be inelastic or elastic also explain your reasoning
Explain how does trade affect the production possibilities frontier. Illustrate what other factors can expand the production possibilites frontier.
Switch grass was promised to be the new crop that would replace corn as the primary feedstock for bio-fuels a couple of years ago. Why have we still not switched to switch grass.
One of the partners favors moving downtown because she believes the additional business gained by moving downtown will exceed the higher rent at the downtown location plus the cost of making the move.
Illustrate what is the macroeconomic relationship with the article, "Squaring the Economic Circle" by Art Buchwald.
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