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5 countries are USA, Japan, Sweden, Trinidad and Tobago, and BotswanaGo to CIA world factbook, click on guide to country comparisons, economy and GDP per capita to answer the following question:
Which country has the highest and lowest standard of living as indicated by their GDP per capita?
Determine the least cost size and number of the milk processing plant using the equation and Derive the marginal cost for the two products 1&2 and show that it is a constant.
In 1982, nominal GDP decreased by 2% while real GDP increased 4%. What explains the difference between nominal GDP and real GDP? Which is a better indicator of how the economy is performing?
At what level of L does the average product reach its maximum and does the total product curve have a region of increasing marginal returns?
Explain what short-run impact immigration is likely to have on natives' wages and employment when immigrants are a) substitutes to natives and b) complements to natives. Explain also the so-called immigration surplus for the short-run case.
A fundamental characteristic of oligopolies is the tendency for them to follow price leadership and to act in harmony in the setting of prices, while monopolistic competitors will find it possible to earn only normal profits in the long run
Businesses usually decide in using automation and labor in production. An automotive environment may have high fixed costs and low variable costs,
Using a separate supply and demand diagram for each part, illustrate the effect of value of the yen in terms of dollars of each of the following;
What type of externalities arise from driving automobiles fueled by gasoline and what is your view on whether the United States should raise the gas tax to the European level and why?
Traditionally, two% of the citizens of US live in a foreign nation because they are disenchanted with United States politices or social attitudes. In order to test if this prportion has raised since the September 11, 2001, terror attacks, United Stat..
At one time, it was believed that the way for a nation to prosper was to export as much as possible while importing as little as possible. More money would flow into a country than out of a country. Is this really a sound economic strategy
What are the major reasons a multinational corporation would engage in Foreign Direct Investment (FDI)? Explain the factors in Michael Porter's "Five Forces Model" which affect the capability of any firm in an industry to earn the profit.
How would income distribution and resource use change if a flat rate tax on comprehensive income were substituted for current progressive income tax in United States?
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