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In his State of the Union speech in January, 2012 (and throughout the following campaign), President Barack Obama stated, “We’ve brought trade cases against China at nearly twice the rate as the last administration –- and it’s made a difference. Over a thousand Americans are working today because we stopped a surge in Chinese tires.” To be more precise, it’s been calculated that 1200 American tire manufacturing jobs were saved, at a cost of $1.1 billion to American tire consumers (about $900,000 per job). Was that a good deal for Americans as a whole?
Assume that in your first job after graduating from college you live in a city where the price of food is PF and the price of housing is PH. You consume F1 of food and H1 of housing per year. Using both your graph and a written explanation describe h..
You are the manager of the surgery department at a hospital which serves mostly Medicare patients. The hospital performs 1,000 surgical operations per year using the traditional method. Compute the total revenue, the total cost, and the profit at the..
A loan for $80000.00 is to be paid with 12 equal payments, paid every other month (6 payments a year) ,The first payment being 9 months after barrowing the money. The interest rate is 12% pre year compounded monthly. What is the size of each of the 1..
Suppose that a company has a fixed proportions production function that requires it to use two machines and one worker to produce 1000 units per hour. Explain why the cost per hour of producing 1000 units is 2v+w (where v is the hourly rent for the m..
One of your friends works at the local water utility and another works at a particular fast food restaurant. Both are considering raising their price to increase revenue and ask for your advice. Which of them would likely be more successful in increa..
Find an article about an event that would cause productivity and costs to change within a single market. What event is altering productivity or costs? Did the event occur in the past, is presently occurring, or may occur in the future?
Firm incurs two types of costs of production: fixed costs and variable costs. Can you name an industry where the fixed costs are relatively high compared to the variable costs? Can you name another where the variable costs are relatively high compare..
Briefly describe the details of the fictitious business that you created for this assignment. Assess the current environmental scan factors that are relevant to the decision making process.
Show where or not above production function exhibits diminishing marginal productivity of labour. Determine nature of Return to Scale as exhibited by above production function.
The broader measure M2, however, since it encompasses most significant forms of money individuals may hold, resolves the problem. The shifts in asset holdings take place WITHIN the broader measure. Explain why M2 velocity should be more predictable ..
What are heuristics? How do they help the brain function? List and describe three common heuristics and how they work. Explain your answers.
Comparing the situation of a nominal interest rate of 10 percent and an inflation rate of 9 percent with a nominal interest rate of 6 percent and inflation rate of 2 percent, consumers would borrow more in which situation?
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