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In complete sentence format, explain (a) two of the three types of trade barriers, (b) the reasons why countries sometimes establish trade barriers, and (c) the effects trade barriers sometimes have on the economy.
How would the following changes in price affect total revenue? That is, would total revenue increase, decline, or remain unchanged?
Explain the differences between typical demand side fiscal policy and supply side fiscal policy. For each of the following fiscal policy proposals, determine whether the primary focus is on aggregate demand or aggregate supply or both.
Estimate cost elasticity of demand for education at this university. Is cost elasticity of demand for university tuition elastic or inelastic according to answer in part (i) Why.
The broader measure M2, however, since it encompasses most significant forms of money individuals may hold, resolves the problem. The shifts in asset holdings take place WITHIN the broader measure. Explain why M2 velocity should be more predictable ..
Revenue at a major cellular telephone manufacturer was $2.3 billion for the nine months ending March 2, up 85 percent over revenues for the same period last year. Management attributes the increase in revenue to a 108 percent increase in shipments, d..
If the demand for a final product rises, then this results in
Elucidate how advertising can be employed to allow Tots-R-Us to keep cost above average cost with encouraging entry.
The price of a commodity in New Zealand is NZD10, whereas the price of the same commodity in Australia is AUD6. The current exchange rate (NZD/AUD) is 1.15. (a) Is there violation of LOP? (b) If so, what will happen? (c) What is the Australian dollar..
What is an example of a firm which, one might argue, is experiencing either (a) economies of scale, or alternatively (b) diseconomies of scale. What are the advantages or disadvantages the firm in question seems to receive when its scale of operation..
What are some pros and cons to command-and-control strategies. How does C-and-C compare to Incentive strategies? In general, do you favor such strategies? Under which conditions? Please provide your rationale.
What type of compensation policy would you expect to observe in an industry with rapidly changing technology? Explain. Suppose you are the owner-operator of a gas station in a small town. Over the past 20 years, you and your rival successfully kept p..
Henry Carey sharply criticized Ricardo and Malthus’s theory on several grounds. Summarize these differences. Explain how differing conditions between the United States and Europe influenced these differences.?
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