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Question: Consider a large country with export subsidies in place for agriculture. Suppose the country changes its policy and decides to cut its subsidies in half.
a. Are there gains or losses to the large country, or is it ambiguous? What is the impact on domestic prices for agriculture and on the world price?
b. Suppose a small food-importing country abroad responds to the lowered subsidies by lowering its tariffs on agriculture by the same amount. Are there gains or losses to the small country, or is it ambiguous? Explain.
c. Suppose a large food-importing country abroad reciprocates by lowering its tariffs on agricultural goods by the same amount. Are there gains or losses to this large country, or is it ambiguous? Explain.
Rise in customers income will make increase in the quantity demanded.
Capitalism was a deregatory term coined by Karl Marx to deride the riches of those who accumulated capital. He said that the accumulation of capital helps the rich get richer while simultaneously making the poor get poorer.
In 250 words answer this question. What are the limits to the U.S. long-term economic growth? Is there anything that our government can do to address these limits, or would it be a bad idea to try?
Suppose a consumer purchases only two goods %u2013 food and clothing. Her preferences between two goods can be represented by the following utility function \(U(x,y)=x^{\alpha}y^{1-\alpha}\) where 0
suppose that the equation for autonomous planned spending ap is ap6200-200r and the value of the multiplierk is 2.5.a
The government finances its purchases through lump-sum taxes on consumers, where T denotes total taxes, and the government budget is balanced every period, so that G = T. The solution for steady state capital per worker k.
1. A firm in a perfectly competitive market that is in long run equilibrium is contemplating raising the price of its good so that it can make positive economic profits. Which of the following statements is correct?
Substantiate your response with reasons and references to the textbook, lesson presentation, or Websites on the Internet.
Provide a report to management of the firm as to whether or not it should continue to operate at a loss?
In your diagram, show that a family that considers food a necessity, given $M/3 in cash would spend less than $M/3 on food. What is the optimal bundle of this type of family if instead of receiving cash it received the SNAP card? g) At bundle H, i..
You are required to read and analyze a recent article from the Wall Street Journal, each covering a different topic addressed in the course. You will then write a 1-page review of each article.
Illustrate what two kinds of changes in the capital stock can improve labor productivity. What determines the slope of the per-worker production function.
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