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International trade
1.What is the gain for a nation that results from specialization in the production of products for which there is a comparative advantage?
2.Why do governments intervene in international trade and develop restrictive trade policies?
Illustrate what does the concept of opportunity cost indicate. Consider how the production of one good affects the possible production level of other goods.
Illustratr what can you infer regarding the own price elasticity of demand for Big G cereal.
Given the Demand curve for flyswatters Q = 500-50P, estimate the quantity demanded for the following prices.
Elucidate the difference between a monopoly and an oligopoly, and a cartel. Provide an example of a monopoly, an oligopoly, and a cartel. Describe the welfare effects of monopolies and oligopolies.
The cost of a seasonal pass to six flags great adventure is not much more than a weekly pass.
Suppose the slope of the consumption function is 0.75 and there was an increase in income of $100. Calculate the increase in consumption.
Assume worker productivity increased at the rate what rate of increase in RGDP would be sustainable without increasing inflation pressures.
Describe and explain the interest parity concept using formal methods Explain IS and LM curve behavior and nominal interest rate in the domestic economy,
Assume W = 10 000. Draw the aggregate expenditure function on a scale diagram along with 45°line. What is the equilibrium level of national income?
Elucidate how each of the following changes would shift the aggregate demand curve.
In Gelate, Pennsylvania, the market for compact discs has evolved as follows. There are two firms that each use a marquee to post the price they charge for compact discs.
Explain how might federal deficits crowd out private domestic investment. How does this crowding out affect future living standards.
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