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Q. Draw a production possibility frontier that is consistent with above assumptions. Depict an initial world trade equilibrium and consumption possibilities of large country, consistent with above assumptions. Suppose large country imposes a tariff on its imports. How do country's Terms of Trade change? How does domestic price ratio change? How will large country's production pattern change? How will large country's consumption and trade pattern change? How is welfare affected? Suppose large country promotes its exports with a cost subsidy to producers. How do country's Terms of Trade change? How does domestic price ratio change? How will country's production pattern change? How will its consumption and trade pattern change? How is welfare affected? Is re a difference to import tariff?
What are the two characteristics of public goods. Is U.S. border control a public good or a private good.
Two firms compete for consumers who have aggregate Demand x=100-2P. Both firms have constant marginal costillustrate both firms' best response functions & indicate Illustrate what the outcome is for each firms'.
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The nation of Wrexington utilizes the same method to Compute the unemployment rate as the U.S. Bureau of Labor Statistics utilizes. From the data below, Compute Wrexington's unemployment rate.
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The Immediate lyric Division accused Microsoft of forcing consumers to buy Internet Explorer whenever they bought Windows
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Assume that economy starts at equilibrium and mpc = 0.8. Illustrate what would be effect of a $500 increase in taxes once all rounds of multiplier process are complete.
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