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Questions
1. Explain the role of the World Trade Organisation (WTO) in the regulation and development of world trade.
2. Evaluate the arguments for and against restricting international trade.
Given the above information, what is the value of output? What is the total cost of producing the output you calculated in (a)? What is the average total cost of producing this level of output? Round your answer to the nearest hundredth.
Before 1970, many countries were on the gold standard. Since that time, floating exchange regimes have dominated the global economy. Select a country which now has a floating or a pegged exchange rate.
What is the current total investment? b) What is the current unintended investment? c) Is this an equilibrium outcome? d) What do the Keynesians say will happen to real GDP?
Discuss the "baby boom" population structure in the U.S. (What IS the baby boom generation? What is their age range?) What "S.P.E.E.C.H." situations probably led to this population boom in the U.S.?
A friend is explaining how supply and demand works using McDonald's hamburgers as an example. You question his examples, saying that the assumption that there must be many sellers and buyers is not true in the case of McDonald's
Emily makes cartoons whioch she sells to her classmates. Her average product of labor is 5 cartoons every hour if she works for one hour, four per hour
If the government of Amityville used a subsidy of $S per unit to encourage the optimal amount of chocolate production, illustrate what level should that subsidy be.
What is meant by the business cycle? Use the Aggregate demand and supply model to explain the causes of the business cycle.
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.) What fiscal policies and monetary policies would be appropriate at this time
Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year. Real GDP per capita of China is $4,000, and its annual growth rate is 7%.
Describe or give example of a real-world dilemma where these six principles could be applied. 1. Understanding each dimension of the problem 2. Who would benefit/suffer 3. Alternative solutions legal/fair 4. Your "gut feeling" level 5. Defend your de..
Suppose for simplicity that Tom can borrow and lend at 0 percent interest. On purely economic grounds should he go to work or to university?
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