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1. Less-developed nations sometimes argue that the industrialized nations' tariff structures discourage the less-developed nations from undergoing industrialization. How? ? 2. Distinguish between consumer surplus and producer surplus. How do these concepts relate to a country's economic welfare? ? 3. What factors influence the size of the revenue, protective, consumption, and redistributive effects of a tariff?? 4. In the past two decades, nontariff trade barriers have gained in importance as protectionist devices. What are the major nontariff trade barriers? ? 5. Which tends to result in a greater welfare loss for the home economy: (a) an import quota levied by the home government or (b) a voluntary export quota imposed by the foreign government? Explain your answer.? 6. Under the Tokyo Round of trade negotiations, what were the major policies adopted concerning nontariff trade barriers? What about the Uruguay Round?? 7. What is meant by the most-favored-nation clause, and how does it relate to the tariff policies of the United States?? 8. What is the purpose of economic sanctions? What problems do they pose for the nation initiating the sanctions? When are sanctions most successful in achieving their goals?
Write down the decision box which combines the letter grade and the amount of fun you have into a single payoff for each outcome.
How do I calculate the price of a gallon of paint that inreases from $3.00 a gallon to $35.00 a gallon. The usage of paint drops 35 gallons a month to 20 gallons a month.
What is the expected profit of simultaneously pursuing both programs.
The last printer added 20 books to total output, while the last press added 1,000 books to total output. Is the publishing house making the optimal input choice.
Elucidate the marginal revenue from the fourth worker
Illustrate what is the market elasticity of demand. What is your elasticity of demand in this Cournot oligopoly.
Explain how does the existence of money reduce the costs of making transactions, relative to a society based entirely on barter.
Illustrate what can be said about the utilization of resources when 20 airplanes and 20 buses are produced. What is the opportunity cost of increasing the production of airplanes from 50 to 60? From 0 to 10 airplanes.
Assume that muffins are incredibly addictive, so consumers have perfectly inelastic demand for them, up to a certain saturation point.
verify the excess burden can also be calculated using this formula.
Hypothetical cost and revenue curves for a computer producer. Illustrate at what price will the monopolist sell each computer.
Illustrate what conclusions can you draw about this period by comparing this cycle to previous business cycles.
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