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Question: Suppose an economy consists of only three goods, as shown in Table 1: Candy Phones Flights 2022 Price 12 6 10 2022 Quantity 100 10 200 2023 Price 15 8 40 2023 Quantity 110 15 220 (a) What is the percentage change in nominal versus real GDP from 2022 to 2023? Use 2022 as the base year.
Explain the nature of the deadweight losses that occur from a tariff. What is countervailing duty, why is it needed, and how does it work. What is the difference between a specific tariff and an ad valorem tariff.
Explore the population since 2011 using internet search engines. Summarize the population trend, number of packs and ecosystem impact.
The FTC and the antitrust division-recent legal actions Go to the FTC Web site, www.ftc.gov, to find press releases by selecting News. Briefly summarize two antitrust (not false advertising) actions taken by the FTC over the past 12 months. Next, go ..
Why might a profitable motel shut down in the long run if the land on which it is located becomes extremely valuable due to surrounding economic development? What kinds of costs are involved in making a decision to shut down?
It is unclear based on the information given above whether profits at Netflix increased or decreased as a result of the price increases.
Derive the equation of the consumer's demand curve for x and with y on the vertical axis and x on the horizontal axis, draw a price-consumptioncurve when the price of x changes.
Write an original case study on local economic development or the impact of globalization on U.S. economy and discuss the role government played in the case.
How are the following demand curves likely to shift in response to the indicated changes?
Two firms, A and B, compete as duopolists in an industry. The firms produce a homogeneous good. Each firm has a cost function given by:
A police officer who is assigned to a casino, refuses the assignment, claiming his Baptist religion prohibits him from gambling or being around gambling. Is he legitimately able to do so?
For 50 years, Cuba has had a centrally planned economy in which the government makes the big decisions on how resources will be allocated.
Please remember to clearly explain simple things about the general aims and tools of fiscal policy. Such as: What are spending multipliers? What is the distinction between "active" and "passive" fiscal policy?
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