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Examine the impact on a small country following an outward flow of immigrants that decreases its labor force. Assume that land is specific to agriculture and capital is specific to manufacturing, while labor is free to move between the two sectors. Assume that there is no international trade, and that the prices of the manufactured and agricultural goods do not change.
Determine whether each statement is true or false, then briefly explain why.
(1) The workers who do not immigrate are better off.
(2) The output of the agricultural good increases.
(3) The marginal product of labor increases for the manufacturing industry.
(4) The marginal product of capital increases for the manufacturing industry.
(5) The capital owners become worse off.
(6) The land owners become better off.
Suppose a candidate who runs on a platform of soak the rich wins the 2012 presidential election. After being elected, he or she persuades Congress to raise the top marginal tax rate on the federal personal income tax to 65%.
Among which of the following receives government subsidies that are in place to protect the population rather than for economic reasons.
Suppose that you barrow $17,000 at 15% compounded monthly over four years. Knowing that the 15% represents the market interest rate, you realize that the monthly payment in actual dollars will be $473.12. If the average monthly general inflation rate..
q1. suppose that for a particular economy and period investment was equal to 200 government expenditure was equal to
China has been growing at a phenomenal rate and recently became the second largest economy in the world. Discuss economic reasons why trade with China (both in terms of importing and exporting) is beneficial to the United States.
what is the lowest amount of collateral that the bank should require to ensure that the firm will choose to proceed with the guaranteed project?
What is the difference between short and long run in terms of the quantity of inputs used in production of goods and services? Are supply and demand generally more elastic in the long run? Provide an example.
What is happening to the US trade balance in each of the following situations? Explain. a. Lower international trade barriers for imported products in the US b. Prices in the US decreases more than prices abroad c. Economic improvement starts in Cana..
The following activities would not be included in the GDP: the purchase of a new car, gratuities at a restaurant, and payment to a neighbor for lawn-mowing services. Identify three more examples of transactions that would not be included in the GDP. ..
Suppose that the demand curve for seats at the Frederick Keys minor league baseball stadium is given as Q^d = 6,000 - 200p. How many fans would attend a game if tickets were free and there was no limit on the number of fans permitted in the stadium? ..
Movie time is a theater chain thinking of opening a new theater in a town. It is trying to decide whether to build a large theater or a small one. Estimates indicate that the small theater size would be large enough to handle demand, but Movie time i..
As an economist working at the International Monetary Fund, you are given the following data for Brazil: predicted per capita GDP, relative to the United States, as given by y = k1/3, is 0.56, and total factor productivity is 0.36. What is the observ..
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