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1. Explain why globalization is good for the United States. What are the drawbacks of globalization for our economy?
2. We run huge trade imbalances with two countries. Explain the cause of the imbalances.
3. What is the economist's case for free trade?
4. What is meant by our balance of payments? Explain what current account and capital account are.
5. What is the gold standard? How does it work?
Discuss the role of advertising also the desired impact on the industry's demand curve. Contrast this to advertising at the industry level.
q1. what are the terms of trade if the united states trades 1 can of soda for 5 units of clothing?explain why price
Elucidate why the return to deficit spending since the turn of the century.
A number of additional conclusions can be drawn from the fact that the marginal revenue curve associated with a linear demand curve is also linear and has the same price intercept and twice the slope of the original demand curve.
Assume the inflation rate is constant. Write down this number on a piece of paper because you will need the information for a subsequent question.
Compared to an income tax, does an inflation tax place a greater or lesser burden on the poor? Please explain your answer.
Between patents and copyrights, which reflects a free market, and which is a grant of monopoly privilege by the state? Patents give inventors or developers of new products
Explain how did the early classical economists view the relation between productions also consumption.
Use the principles of supply and demand to address a predetermined goal (set by the student) in the gasoline market. Be clear on what the current market indicates and why and what your future goal is.
Describe what is meant by a dominant strategy. Given payoff matrix above, does each firm have a dominant strategy. Under what circumstances would re be no dominant strategy for one or both firms.
Employment and unemployment are big issues in America. Every week, the news outlets report the number of new unemployment claims made at unemployment offices around the country. We typically have 150 million people as part of the workforce.
Converse the latest equilibrium price also quantity to result from these changes.
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