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1. Who benefits and who loses from a tariff? What is the new outcome for society?
2. What disadvantages exist if your country has a strong currency?
3. Consider the following table for the neighboring nations of Quahog and Pawnee. Assume that the opportunity cost of producing each good is constant.
a. What is the opportunity cost of producing meatballs in Quahog? What is the opportunity cost of producing clams in Quahog?
b. What is the opportunity cost of producing meatballs in Pawnee? What is the opportunity cost of producing clams in Pawnee?
c. Based on your answers in parts (a) and (b), which nation has a comparative advantage in producing meatballs? Which nation has a comparative advantage in producing clams?
The author is trying to assess whether system membership affects patient outcomes broadly defined. The author argues for using only acute myocardial infarction patients to look at this question. What is the justification for this? What economet..
In Argentina, if you do not reach an agreement with the government distributors, you can set up a less efficient Internet-based distribution system that you would generate $20 million in value to you. How does this affect the amount you could capt..
Given his plot of land, a farmer uses labor (10 workers), capital (5 pieces of equipment), and fertilizer (5 tons) to produce corn. He has figured that each additional worker hired over the course of the growing season adds 5000 bushels to his cro..
Stock prices subsequently decreased. Discuss how this might have affected consumption.
Alistair deposited $10,000 on July 1, 2005, in a first fund that gives interest of 31 2 percent compounded semiannually and matures on June 1, 2012. He knows that, on December 18, 2012, he can deposit money in a second fund
Which of the following would be automatic stabilizers? Employment-insurance payments Cost-of-living escalators in government contracts and pensions
The table below illustrates values for consumption spending, saving, and planned investment in a closed, private economy. Aggregate Output Consumption Saving Planned Investment Planned Aggregate Unplanned Inventory Change Expenditure (GDP = Y) (C) ..
Assume that the mean hourly cost to operate a commercial airplane follows the normal distribution with a mean of $2,425 per hour and a standard deviation of $195. What is the operating cost for the lowest 4 percent of the airplanes.
Great Lakes Health Network's net income increased from $3.2 million in 1997 to $6.4 million in 2007. The total growth rate over the ten years is 100 percent, while the annual growth rate is only about 7.2 percent, which is much less than 100 perce..
how total revenue will be impacted by the increase in price?
Consider an economy with the production function Y= L^(1/3) a) Derive the Labor demand Curve b) If Labor supply curve is L^s= (w/p) , calculate the equilibrium levels of real wage, labor and output.
Computer Products Corp. sells peripheral equipment used by both private businesses and the government. Due to a recession, Computer Product's sales have declined by 100,000 units and it now has 200,000 units of excess capacity.
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