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In America, we are able to produce about everything we consume, but we don't. Several decades ago, the US was a manufacturing economy. We used to make the Nike shoes, Lives jeans, and many other goods here in the United States. However, we no longer produce those commodities in the US (even though we practically could). Why?
How does the concept of opportunity cost and comparative advantage explain the above argument?
Cooke Collectibles produces fine porcelain miniatures representing famous people and historical events. To avoid production and scheduling problems, Cooke's policy is to make all copies of a figure in one production run.
Is there much research into the long term impacts of government fiscal contractions. I have heard about 2nd generation unemployed as a result of Thatcher's policies but that is very much anecdotal. What does the literature have to say on the matter?
Think of another good that you have purchased recently (or you could continue with the good you selected in TDA I). Be specific (e.g. is it breakfast cereal in general or Cheerios cereal specifically). If the price of this item increases, how would t..
company's online presence using online marketplace analysis
An in dustry in which one firm can achieve economies of scale over the entire range of market supply is a
Crossing the San Francisco Bay] There are 2 main ways to enter San Francisco from Berkeley. The Bay Bridge provides access by car and takes 10 minutes if it is not crowded. In this problem, explain what externality arises from the use of the Bay Brid..
The focus of this analysis involves analyzing key economic themes such as demand, production, cost, and market structure with quantitative techniques.
Joel Klippert says he pays himself last, after he pays his vendors and employees. Explain this decision in terms of the principle of business profit. Do you agree with his payment priorities?
It is likely that supply curves for labor in individual labor markets are upward sloping. For a firm buying factors of production in a perfectly competitive factor market:
The actual multiplier effect in the U.S. economy is less than the multiplier effect in the text examples because: the real-world MPS is larger than the MPS in the examples.
Costs for maintaining buildings at an industrial complex over a 13-year period are expected to be $3,932 in year 1, increasing at the rate of 15% per year through year 13. At an interest rate of 15% per year, what present worth (at time 0) is equival..
Using a labor/leisure model to show and discuss the income and substitution effects of a rise in wage rate when substitution effect is greater than the income effect. Using this model to analyze implications of employee disability programs How wou..
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