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Research the concept of an open economy.
Now consider the United States' current economic situation. Share your overall opinion of the subject and if you believe the U.S. economy has benefited or suffered (or both).
Suppose the exchange rate between the U.S. dollar and the Swedish krona was 6.65 krona = $1.00, and the exchange rate between the dollar and the British pound was £1 = $1.67. What was the exchange rate between Swedish kronas and pounds?
In the economy of Qonos in 2102 investment was $1,611, GDP was $5,829, government spending was $1,521 and consumption was $1,694. What was Qonos's net exports in 2102?
What are the determinants of demand? What happens to the demand curve when any of these determinants change? Distinguish between a change in demand and a movement along a fixed demand curve, noting the cause(s) of each.
Suppose that during the past year, the price of a laptop computer fell from $2,650 to $2,430. During the same time period, consumer sales increased from 495,000 to 664,000 laptops. Calculate the elasticity of demand between these two price–quantity c..
A firm is currently operating where the MC of the last unit produced is $64, and the MR of this unit is $70. Illustrate what would you advise this firm to do.
Illustrate what price should the firm charge to realize the targeted profit. Illustrate what would be its (cost-based) markup ratio.
Show the total and marginal products and indicate at each level of production whether the production function exhibits increasing, constant, or diminishing marginal productivity.
Briefly state and justify your position on each of the following proposals: a) Women and minorities should be paid the same wage as white males, provided the work is comparable. b) The United States should close its boundaries to all immigration. c) ..
What is the difference between electronic commerce and electronic business according to Becker and Sampson? Briefly compare B2C, B2B, and B2G electronic commerce?
For each of the following events, graph and explain the short-run & long-run effects on output and the price level, assuming policymakers take no action.
Compute the real GDP per person for this nation in 2001, in 2000 euros per person. Round your answer to the nearest euro.
Suppose that a firm’s long-run average total costs of producing an individual income tax return is $75 when it produces 1,000 returns and $75 when it produces 1,200 returns. For this range of output, the firm is experiencing
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