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Question: 1. What general conditions must hold for one to be able to use community indifference curves to well-being in a country and demonstrate gains from international trade?
2. The United States has had an embargo on trade with Cuba for over 50 years, but pressure is increasing to relax it. Opponents of ending the embargo argue that opening trade between the United States and Cuba would benefit Cuba and hurt the United States by injuring U.S. producers of goods that compete with potential Cuban exports. Evaluate this position utilizing what you have learned in this chapter. represent consumer.
determine the present worth of 5 annual deposits of 1200 at the end of years 1 through 5 followed by 4 equal annual
for livia coffee and tea are perfect substitutes one cup of coffee is equivalent toone cup of tea. suppose livia has 90
Write an essay about familiarity with relevant literature. The limit excludes references, but includes everything else. Penalties will be applied if you write.
When the government of Trade land decides to impose an import quota on foreign cars, three proposals are suggested: (1) Sell the import licenses in an auction. (2) Distribute the licenses randomly in a lottery. (3) Let people wait in line and dist..
Consider the following information in the table for Pat's Pizza Restaurant
Suggest some barriers to trade that might exist which would eliminate the potential advantages to specialization and trade. What will keep each group from overcharging the other for their specialized product
Draw a decision hierarchy for a significant decision with economic consequences that you must make. Examples include choosing among job offers.
Identify ethical and regulatory considerations. Analyze the following factors that have affected the coffee industry over time: Explain the effects of supply and demand generally and specifically related to the coffee industry.
A car dealer is offering to a buyer one of two incentives: zero percent financing or $3,000 cash back. If the car price (before the incentives) is $25,000, find the following to compare the two options in terms of monthly payments.
Suppose the government imposes a 25% tax on a worker's income. Using the search model, explain how this affects the equilibrium wage rate, the unemployment rate
Draw indifference curves representing an individual's preferences for income and household production. Are these indifference curves negatively or positively sloped? Explain why.
Suppose college graduate earn$25 an hour and high school graduates earn $15 an hour. Suppose too that the marginal product of college graduate at Jonson Tools is five hammers per hours, while the marginal product of high school graduates is four hamm..
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