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We see the U.S. tends to import more goods than they export. Regardless of the imbalance of trade the U.S is still an economically competitive country. Do you think trade is just a small component of what makes a country economically successful?
assuming economy is in a long run equilibrium, show fraction of total output earned by labour and fraction of total output earned by capital. Explain why, in long run, firms make zero economic profits in this economy.
Suppose for three years income has been increasing and the income elasticity of demand for ACME tools is 0.3. What will the change in the number of ACME tools being purchased be, if the rise in income over the past 3 years has been 10%. If forecaster..
Elucidate which methods resulted in the most hits. Elucidate which methods resulted in few or no hits.
If the demand curve is QD = 100 - 10P and there is a $1 price increase, then the elasticity of demand at P = 2 is
If the government unexpectedly levies a five-cent tax on every gallon sold by gasoline retailers, illustrate what will happen to the representative firm's cost curves.
The elasticity of demand is: Whether buyer or sellers pays more of a commodity tax depends on:
A forest owner in a developing country claims that he earns more m1y with carbon sequestration than with timber production.
Please describe the policy suggestions you might have for the Federal Open Market Committee if you were appointed adviser to the Federal Reserve Bank. Imagine the country is experiencing economic slump and the FOMC is not sure what monetary policy ac..
If it cost Wardco $10million to treat the water and the value of mined products to customers is $8million, requiring water treatment would kill the project. Should Wardco be required to treat the water in this case?
Describe what observations and decisions might be made based on comparative labor costs. What countries, based on labor costs alone, might seem best to lower labor costs.
Assume that The United States passes a law that allows an additional 1 million persons to immigrate to the United States each year. Discuss the effects that this will have on the Production Posibilities Fromtier. (identify at least 3 effects)
What is consumer surplus and producer surplus? Create a diagram to explain your answer. On the same diagram, show what happens if a limit is imposed on the amount of a good that can be sold in the marketplace
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