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Question 1: Reflect on the course material about how international trade improves technical progress by bringing more ideas to the table in general and from different parts of the world. Discuss an example situation or a situation from your own life that illustrates how either (or both) getting more people involved in solving a problem or bringing in diverse views and skills helped solve a problem.
Create a chart that compares and contrasts the theories including the main theorists, a selection of countries using each model, and a summary of where the economic power lies (i.e., people, market, government).
Use the data in the table to the right to answer the following questions. What is the external cost per unit of production? What level is produced if there is no regulation of the externality?
How does this rationing method influence the incentives of individuals to supply goods, services, and resources to others?
Calculate the marginal revenue product for each add. unit of labor of output sell $3
Suppose that in Canada the opportunity cost of producing two television sets is three bushels of wheat. Suppose that in the United States the opportunity cost of producing 2 bushels of wheat is 3 television sets.
The second largest public utility in the nation is the sole provider of electricity in 32 counties of southern Florida. To meet the monthly demand for electricity in these counties, which is given by the inverse demand function P = 1,200 - 4Q, the..
During the oil crisis in the 1970s, long lines at gas stations disappeared soon after price controls were removed and gas prices were permitted to rise. Should this even be interpreted as evidence that the oil companies have monopoly power
Please help, According to the CAPM (capital asset pricing model), the security market line is a straight line. The intercept of this line should be equal to?
A company must decide whether to buy Machine A or Machine B.Machine A:Initial Cost: 10,000
Describe the differences between the supply chains for the retail business of Walmart and Dell
Suppose that the deposit multiplier in a particular economy is 5. In this simple economy, banks hold no excess reserves and the public uses checking deposits rather than holding currency.
since november 2011 the reserve bank has lowered the cash rate on eight separate occasions from 4.75 to 2.5. clearly
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