Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Solved Assignments
Asked Questions
Answered Questions
Draw a graph to illustrate the market equilibrium. On your graph, show the efficient quantity of water taken.
What type of good is a high-speed rail network? What information would be needed to determine the efficient amount of high-speed rail in the United States?
The United States exports wheat. Draw a graph to illustrate the U.S. wheat market if there is free international trade in wheat.
Explain who in the United States would gain and who might lose from dismantling trade barriers between the United States and India.
Explain who, in the United States, gains and who loses from this tariff on paper. How do you expect the prices of magazines and textbooks to change?
Who in the United States loses from this trade in roses and would lobby for a restriction on the quantity of imported roses?
What argument has the United States used to justify this quota? Who wins from this restriction? Who loses?
What are Japan's arguments for restricting imports of Californian rice? Are these arguments correct? Who loses from this restriction in trade?
Explain how the price that U.S. consumers pay for goods imported from Mexico and the quantity of U.S. imports from Mexico have changed.
Why does China import or export shoes? Who, in China, gains and who loses from international trade in shoes? Does China gain from this trade in shoes?
How does the price of sugar in the United States change? Do U.S. sugar growers produce more or less sugar?
Briefly explain the demand curve for Eskom as well as the implication of the curve with regards to market power.
If the United States allows a greater quantity of highly skilled workers, what will be the impact on the average wages of highly skilled employees?
What factors can explain the relatively small effect of low-skilled immigration on the wages of low-skilled workers?
How would you expect immigration by primarily low-skill workers to affect American low-skilled workers?
What policies, when used together with antidiscrimination laws, might help to reduce the earnings gap between men and women or between white and black workers?
What is the outcome if they meet at Tom's home? What is the outcome if they meet at Larry's home?
What are some of the ways that someone looking for a loan might reassure a bank that is faced with imperfect information about whether the loan will be repaid?
What are some of the ways a seller of goods might reassure a possible buyer who is faced with imperfect information?
Why is there asymmetric information in the labor market? What signals can an employer look for that might indicate traits they are seeking in a new employee?
What might have been Ford's and General Motors' argument for the high tariff? Is the tariff the best way to achieve the goals of the argument?
Why does the United States gain from exporting services and importing coffee? How do economists measure the net gain from this international trade?
How does the price of sugar in Brazil change? Do Brazilians buy more or less sugar? Do Brazilian sugar growers produce more or less sugar?
Who will pay most of the tax increase: the buyer or the seller? Will the tax increase halve the quantity of sunscreen and sunglasses bought?
Why does Hong Kong or the United States place a greater weight on efficiency and a smaller weight on fairness?