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Evaluate the origins of the Opium Wars from both Chinese and British viewpoints, and incorporate a well-defined argument of which country had a more valid claim.
Galbraith (1962) present eight assumptions about the causes of poverty (pages 15-19). Please select one of these assumptions and discuss its merits and possible remedial actions.
a) What are the expected one year interest rates next year and the following year? b) If the risk premiums were all zero, as in the expectations hypothesis, what would the slope of the yield curve be?
Which of the following would tend to increase AD?
Explain the role of the Federal Reserve, who monitors it and is it effective in its job? Evaluate one of the strategies of the Federal Reserve
In the movie Princess Bride, the hero disguised as the pirate Westley is engaged in a game of wits with the villain Vizzini. Westley puts poison in either his own glass of wine or in Vizzini's glass. Construct the payoff matrix for this game. Assume ..
Futons Inc. produces futons using only two inputs – capital (wood, nails, and hammers) and labor (measured in worker hours) – with a technology characterized by the following function:q = 2ln(K + 3L)Futons Inc. spent $100 on 100 units of capital at t..
Can you identify the consequences of a strong dollar or a weak dollar in the United States? Which direction do you prefer for the overall health of the American economy? Should the U.S. take measure to ensure that the dollar retains its dominant role..
The inverse market demand for a generic drug is P = 200 – Q, where Q is total market output and P is the market price. Two firms, 1 and 2, have complete control of the supply of the drug. Firm 1 has total cost equal to 20q while firm 2 has total cost..
Assume that incomes of the consumers in this market increases. What would happen in this market? Explain your answer and reconstruct the graph developed in question one to show this change. 8. Assume that the number of sellers decreases in this marke..
Show that for any level of output q, the minimum cost of producing q is $q. d. Explain how a 10% wage tax would affect the way in which the firm chooses to produce any given amount of output
Estimate the relative importance of economies of scale and comparative advantage in causing the following:Much of the world's most expensive wine comes from France.
Suppose that the hourly output of chili at a barbecue (q measured in pounds) is characterized by: = 20SQRT(KL) , Where K is the number of large pots used each hour and L is the number of worker hours employed. Calculate the rate of technical substitu..
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