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The United States exports corn and aircraft to the rest of the world, and it imports oil and clothing from the rest of the world. Do you think this pattern of trade is consistent with the principle of comparative advantage? Why or why not?
Suppose that initially the price is $20 in a perfectly competitive market. Firms are making zero economic profits. Then the market demand shrinks permanently, some firms leave the industry, and the industry returns to a long-run equilibrium. What wil..
If the taxes are set so that each resident shares the cost evenly (a=b=c), how so many paths will get built.
A selfless person approaches Jones also Smith with a $100 bill also offers to sell it to the highest bidder but both the winning also losing did der must pay her their bids.
Using DeBeer's Diamonds, Graph a Monopoly showing the Price, Quantity, Demand, MR, ATC, MC and Profit for Diamonds
Make a list of your human capital. Be sure to point out what occupations, situations where your human capital is valuable. Also, make some statement of the relative scarcity of each of your talents and skills and the wage differential it offers. Keep..
The owner of a small car-rental service is trying to decide on the appropriate numbers of vehicles and mechanics to use in the business for the current level of operations. Assume that annual (leasing) cost per vehicle is $6,000 and the annual salary..
What does the term" globalization" mean? What forces are driving globalization? Is globalization inevitable and uncontrollable? Or is it the product of human decisions and therefore controllable? Is globalization harmful or beneficial, a problem or t..
Health expenditure was $5,711 per person in 2003. The Consumer Price Index was 201.6 in 2006 and 177.1 in 2003. Adjusted for inflation.
The data in Accident.dta are the weekly automobile accident counts for the years 2006 and 2007 in Havana County. Determine the appropriate ARIMA model, and forecast the accident rate five weeks ahead from the forecast origin t = 85 (make a line plot ..
The expected value is. You want to run a difference-in-difference experiment with a price increase for your lawn chairs in Miami. If you are worried about "leakage" with your control group, a poor comparison city would be
Estimate amount of former foreign-monopoly profit that is transferred as tariff revenue to home nation when home nation imposes tariff.
Explain briefly how the economic way of thinking-interms of rational, self interested people responding to incentives
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