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Question: 1. Why can a case be made that the difference between the domestic producer price of an import-competing good and the world price of the good is a reasonable indicator of the amount of domestic interference with free trade in the good?
2. In the early stages of the Kennedy Round of multilateral trade negotiations in the 1960s, U.S. officials claimed that the European Economic Community (EEC) had higher average tariff rates than did the United States, and EEC officials claimed that the United States had higher average tariff rates than did the EEC. It so happened that both claims were correct. How is this possible?
How were the Mongols able to conquer and rule such a vast expanse, and why did their empire ultimately collapse? How did their empire compare with ones in the Americas and sub-Saharan Africa?
Explain how much pollution reduction should Appalachian Coal Mining undertake.
Suppose you are Chief Economist of the FCC. The Chairman has called you in to discuss a thorny issue. Two wireless broadcasters operate on adjacent frequencies.
Select any four of the six summary statements and explain in detail the significance and possible causes of each item. Be sure to use the economic concepts and polices discussed in your textbook where applicable. Identify possible economic policie..
1. How does higher investment benefit the whole economy? What if the money invested is outweighed by the devaluation of existing buildings and machines?
Define the price elasticity of demand and discuss its relationship to revenue? Suppose that government would like to maximize tax revenue. Explain why it may be a good idea for the government to lower tax rates for the goods that have very high pri..
Define human capital. What are the similarities and differences between physical capital and human capital
Briefly explain what the incentive was to create and attend the first Earth Day. What economic principles might explain your answer to Question 1?
Stones for the pyramids were quarried far to the south (upstream on the Nile River) and were brought downstream on rafts only during the spring flood of the Nile. Discuss some of the planning and organizational implications of this immense logisti..
What is the term for a situation when the quantity demanded of a good falls when the price of a good rises, other things are equal?
Steven Shore and Barry Prevor love to fill a void - about 3.5 million square feet of it. That's how much space Steve & Barry's University Sportswear took in US.
What are the three types of unemployment? Unemployment is seen by some as undesirable. Are all three types of unemployment undesirable? Could the advent of the Internet completely eliminate frictional unemployment?
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