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Draw a production possibilities frontier for each country. Identify which country has the comparative advantage.
Which jobs should you assign to your roommates to get the most free time overall? Can you imagine a traderelated analogy to this problem?
why would a nation continue to restrict trade on some imported or exported products?
Calculate the opportunity cost of producing one video camera in Germany and in Poland. Which country has a comparative advantage in production of video cameras?
Who has the absolute advantage in production of sweaters? Who has the absolute advantage in the production of wine? How can you tell?
What is the opportunity cost of producing one pound of beef in Brazil? What is the opportunity cost of producing one pound of beef in the United States?
What are the total costs and benefits of this proposed policy? Do you think it will be passed?
Why does the fact that the protests had little to no effect on legislative changes support or contradict the chapter?
What are some alternatives to a first past the post system that might reduce the problem of voting cycles?
How is it possible to bear a cost without realizing it? What are some examples of policies that affect people in ways they may not even be aware of?
To ensure safety and efficacy, the Food and Drug Administration regulates. Who are the more anonymous losers who suffer from strict medical regulations?
Special interests do not oppose regulations in all cases. Why might a large online retailer like Amazon support such a measure?
Interest group are often made up of representatives of competing firms. Why are competitors sometime willing to cooperate in order to form lobbying association?
After a high-profile antitrust case against it, however, company began to lobby heavily. Why does it make financial sense for companies to invest in lobbyists?
What are some possible ways to encourage voter participation and overcome rational ignorance?
What are some reasons people might find acquiring information about politics and voting rational, in contrast to rational ignorance theory?
How does a government agency raise revenue differently from a private company?
How can pork-barrel spending occur in a situation of majority voting when it benefits only a small group?
How can a small special interest group win in a situation of majority voting when the benefits it seeks flow only to a small group?
Alexx invests directly and earns 5% a year. Spenser uses a retirement fund and earns 4.75%. After 30 years, how much more will Alexx have than Spenser?
Given change in interest rates, would you expect to pay more or less than $10,000 for bond? Calculate what you would actually be willing to pay for this bond.
How do you think the problem of moral hazard might have affected the safety of sports such as football and boxing when safety regulations started requiring?
To what sorts of customers would an insurance company offer a policy with a high copay? What about a high premium with a lower copay?
If the insurance company were selling life insurance separately to each group, what would be the actuarially fair premium for each group?
Why do very small companies tend to raise money from private investors instead of through an IPO?