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Donald Trump says he will force Mexico to pay for a wall between Mexico and US. Suppose the Mexican government builds such a wall. Using a Keynesian 45 model, illustrate and explain the effect on the GDP, unemployment, and the price level in Mexico.
Suppose that the Indian government reduces its deficit and returns to a balanced budget. If other thing remian the same, how will the demand or supply of loanable funds in India change.
When economists attempt to predict the spending patterns of U.S. households, they will typically view the ____________ as a primary determining factor that influences the individual consumption choices that each will make. Which of the following fall..
Wooldridge Problem 4.6 In section 4.5, we used as an example testing the rationality of assessments of housing prices. There, we used a log-log model in price and assess [see equation (4.47)]. Here, we use a level-level formulation. i. In the simple ..
Discuss the classification of types of goods in terms of rivalry and excludability. For what type of goods do we have the free-rider problem? The tragedy of the commons? Provide explanations for both.
Write a two- to three-page paper (600 words minimum) examining perfect competition in the value-menu fast-food restaurant business. Address the following questions in your paper: What are the characteristics of perfect competition? Why does this type..
The producer in the perfectly competitive market above will pick a level of production such that:
What role do early adopters play in creating a guiding coalition? Why is it a good idea to focus your leadership attention on these people? Why might this approach work? What may be some unintended consequences?
Model the following situations as a game. Ensure that your game's payoffs match the situation. Your answer should consist of a payoff matrix, a short explanation, and an indication of the game's Nash equilibrium. You and your classmate plan to meet l..
Explain the challenges in measuring consumer surplus of a free product like major online applications, such as Facebook and Google Search. Explain how to quantify the gains that the internet has brought to consumers
Show the total and marginal products and indicate at each level of production whether the production function exhibits increasing, constant, or diminishing marginal productivity.
Shortly discuss how the development of the Internet has changed the market structure in which companies operate. Assume that most firms can be categorized as being in perfect competition, monopolistic competition, oligopoly, or monopoly. Keep in mind..
An industry consists of three firms with sales of $310,000, $725,000, and $405,000. Calculate the Herfindahl-Hirschman index (HHI). Calculate the four-firm concentration ratio (C4).
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