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Ross Perot added his memorable "insight" to the debate over the North American Free Trade Agreement (NAFTA) when he warned that passage of NAFTA would create a "giant sucking sound" as U.S. employers shipped jobs to Mexico, where wages are lower than wages in the United States. As it turned out, many U.S. firms chose not to produce in Mexico despite the much lower wages there. Explain why it may not be economically efficient to move production to foreigh countries, even ones with substially lower wages.
Similarly, the autarky price of poultry in Mexico was above the world price and in the United States was below the world price. Draw diagrams with domestic supply and demand curves for each country and each of the two goods. as a result of NAFTA, ..
(Depository Institutions) What is a depository institution, and what types of depository institutions are found in the United States How do they act as intermediaries between savers and borrowers Why do they play this role
The Republic of Republic produces 2-goods, marshmallows and soda water. In 1994, the one hundred units of MM produced sold for $3 a unit and 50 units of SW produced sold for $1 a unit.
If the local environmental quality in Tennessee declines as a result of this trade, then indicate a potential Coase agreement that could avoid the environmental decline and would still make the trade profitable to both parties ? Is such a trade po..
Suppose that Norway (country 1) and Russia (country 2) are the only two natural gas exporters to Germany. The inverse demand curve is P= 100-Q, where P is price and Q is the total quantity in the market. Costs are C1=Q12 and C2=10*Q2, where C1 and..
Use the data on U.S. real GDP below to compute real GDP per person for each year. Then use these numbers to compute the percentage increase in real GDP per person from 1987 to 2005. Year REAL GDP (2000 prices) population.
In the Ricardian model, everyone seems to profite from trade. However, the Heckscher-Ohlin model seems to show that some lose from trade as well.
In recent years the exchange rate of the $ has been noticeably high against the yen. If for some reason investors around the world now decide that this increase is a temporary phenomena and that the $ will fall relative to the yen in coming months..
Using the S/D of $ and S/D of ¥ (yen), answer the following questions. Make sure to draw both graphs. a. What happens to the p (price) and q (quanity) of $ and of ¥ when the Japanese demand more ipods b. What happens to the p (price) and q (quanity) ..
SUPPOSE THE WORLD PRICE FOR STEEL IN BELOW THE U.S. DOMESTIC PRICE, BUT THE GOVERNMENT REQUIRES THAT ALL STEAL USED IN THE U.S. BE DOMESTICALY PRODUCED. A. USE A DIAGRAM TO SHOW GAINS AND LOSES FROM SUCH A POLICY.
Most nurses in the United States receive their education in community colleges. Mainly because of differences in class size, the cost of educating a nurse is about four times that of an average community college student.
In the same context of Q6 above, briefly explain why the prices of Short Term US treasury securities are still high enough to keep the interest low enough despite the fact that the US Bond rating has been downgraded from AAA status to AA+ by S&P i..
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