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Name two products and two services whose production depends heavily on low- skilled labor. b. What would happen to the wages of the remaining low-skilled, legal workers after the deportations? c. What would happen to the prices of the goods and services that you listed in part (a) and to the quantity produced? d. What would happen to the “cost of living” for more highly skilled people? e. What is your opinion: are illegal immigrants a net economic benefit to the U.S. or a net economic drain? Elaborate.
Why is monetary policy chosen over fiscal policy as the preferred tool for stabilization policy? What does the government gain from controlling monetary policy? Why would they choose to delegate responsibility for monetary policy to an independent ce..
What s the general pattern of the US income distribution over the last century. Explain about the timing of the changes.
How does this change the value generated by the market? Why do you say this? Where does this appear in your graph.
Choose one company from the market structure of monopolistic competition and one company from the oligopoly market structure and state which characteristics make this company fit these market structures.
Explain the practical effect of price controls on product and service availability, quality and true cost. What is the full impact of rent controls? On whose behalf are they imposed? Who are the winners and who are the losers? What is the impact of p..
You are purchasing a new car for a price of $38,000. The dealer is offering two financing programs. Program 1 will allow you to take possession of your new car and defer your first payment for 6 months. Interest accrues monthly on your purchase durin..
Elucidate how consumers in an economy can be better ff if the marginal rate of transformation does not equal consumer's marginal rate of consumption.
You are asked to conduct a five-year (Year 0 to Year 4) economic feasibility study. Based on project schedule, you conclude that the system will not be in operation during the current year (Year 0). The discount rate is 7%. Is there a break-even poin..
The country of origin can influence a consumer’s perception of the quality of the product. What can a company do to overcome a negative attitude about the product’s country of origin?
A Spanish can either produce 3 liters of win or 1 kilos of cheese. A Portuguese worker can either produce 4 litres of win or 12 kilos of cheese 1) Which countries have absolute advantages in which goods? Explain 2) Which countries have comparative ad..
If the firm's price elasticity of demand is equal to -2 (or 2 in absolute terms) illustrate what price should the firm charge in order to maximize profits
Back in the 1950's a piece of gum was 5 cents and today it is $1. Inflation has occured so that does that mean that people can afford to have less gum? Do they have less purchasing power? Explain please.
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