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Suppose that wheat is the only commodity in the world. What would happen to the real exchange rate between Canada and Russia?
Ethanol is made from a blend of gasoline and alcohol derived from corn. What would you expect the impact of this program to be on the price of corn, soybeans, and wheat?
What is the amount autonomous consumption? What is the marginal propensity to consume? What would consumption equal when real GDP equals $2000?
What determines the value of US dollar today? Please describe at least three factors in detail.
What is meant by our balance of payments? Explain what current and capital accounts are. Can there be a deficit on current account and a deficit on capital account at the same time? Explain.
The beekeeper farmer team will accept for the sixth day? Assuming that the farmer can dispose of $7 she wishes, what range of payments will the beekeeper accept?
What are the different types of trade barriers? List and explain at least three.
What would be the peso-dollar exchange rate be if purchasing-power parity holds? If a monetary expansion caused all prices in Mexico to double, so that pop rose to 24 pesos, what would happen to the
Assume the market for cough syrup is in equilibrium. Now, suppose the government imposes a price ceiling that is above the original equilibrium price. What are the economic effects of the price ceil
How are presidential election outcomes related to the performance of the economy? What are the major factors that have affected U.S. household consumption since the recession in 2001?
If a generic version of the drug were introduced, your daily sales would decrease to 400 doses. How much are you willing to pay each day to prevent the entry of the generic version.
What is the diference between micro and macro economics?
You make a choice from the entire set, or (ii)you fi?rst partition A into subsets A1and A2; then make a selection from among each of the sets. Show that the rational decision-maker does satisfy the p
Define economics and Describe the "economic perspective" (or "economic way of thinking"), including definitions of scarcity, opportunity cost, purposeful behavior, utility, marginal analysis
Draw the U.S. and Canadian production possibility frontiers in two separate diagrams, with CDs on the horizontal axis and lumber on the vertical axis.
Compute total profits at this price-output level? What is the impact of a $5,000 increase in the level of fixed costs on the price charged, output produced, and profit generated?
Determine each country's reaction function. Does a Cournot equilibrium exist? If so, find the outputs and prices of crude oil in the two countries
What would happen to world welfare if the U.S. paid exporters a subsidy of $5 for every pair of blue jeans they sold to Canada, but Canada charged a $5 countervailing duty on every pair imported in
What are the major differences between the causes of Great Depression and the current recession? Compare and contrast how the Federal Reserve Bank responded then with how they have responded today.
The second RN is expected to serve 18 patients per day with daily wage at $120. Assume their services are at the same quality. Which RN will you hire? Why?
What percentage change in the price of each of the three goods? Using a method similar to the consumer price index, compute the percentage change in the overall price level.
Explain the procedures and try to persuade the skeptic that they make sense. Determine for each of them whether they are consistent with the rational choice model.
Jeng-Mei Chen, Inc., an upscale Manhattan restaurant, would like to generate a sales forecast based on the assumption that next year sales are a function of current income, advertising, and advertis
Calculate the consumer surplus, producer surplus, and the total quota rent. Compare the sum with the total surplus of the market you obtained in part (ii).
The largest component of private investment expenditure is