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After terrorists destroyed the World Trade Center and surrounding office buildings on September 11, 2001. What about the effect over the long run?
What is the equilibrium price for the demand and supply conditions described in exercises 1 and 2? How much corn is bought and sold?
At what price does the amount supplied equal 21 billion bushels per year? Show your answer using algebra.
At what price does the amount demanded equal 15 billion bushels per year?
Why Does theory have implications that can be verified or falsified? Is it a useful theory?
Why should be applied to all human decision making. Do you agree or disagree? Are there certain types of decisions that economists shouldn't study?
When the value of the U.S. dollar falls in relation to the currencies of other nations, what do you think will happen to the quantity of U.S.
Why can you think of some ways by which a nation can gain at the expense of other nations from trade restrictions?
If nations gain from international trade, why do you think most of them impose some restrictions on the free flow of international trade?
How do international economic relations differ from interregional economic relations? In what way are they similar?
How can a government eliminate or reduce a budget deficit? How can a nation eliminate or reduce a balance-of-payments deficit?
What do you predict would happen to the quantity of imports of a commodity if its price to domestic consumers rose (for example, as result of a tax on imports)?
Compare the contents of the microeconomic parts of your principles text with the contents of Part One and Part Two of this text.
Why does the trade between the United States and Brazil and Argentina follow the prediction of the gravity model?
Why do you recall the concepts of inflation, recession, growth? marginal propensity to consume, multiplier, accelerator? monetary policy, fiscal policy?
Why do you recall the concepts of demand, supply, and equilibrium? Do you recall the meaning of the elasticity of demand? perfect competition? factor markets?
Which are the most important international economic challenges facing the world today? What are the benefits and criticisms of globalization?
Why must we discuss theories before examining policies? Which aspects of international economics are more abstract? Which are more applied in nature?
What simplifying assumptions do we make in studying international economics? Why are these assumptions usually justified?
What is the purpose of economic theory in general? of international economic theories and policies in particular?
What is meant by adjustment in the balance of payments? Why are these topics known as the macroeconomic aspects of international economics?
What does international trade theory study? international trade policy? Why are they known as the microeconomic aspects of international economics?
How can we get a rough measure of the interdependence of each nation with the rest of the world? What does the gravity model postulate?
How is international trade related to the standard of living of the United States? of other large industrial nations? of small industrial nations?
What are some of the most important current events that are part of the general subject matter of international economics? Why are they important?