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What is meant by substitution effect ? Explain the slutsky substitution effect.Define the Resource Combination. Explain the concept of “Optimum Factor Combination”.
Determine the equilibrium quantities (supply and demand) for the US if the nation can trade freely with the rest of the world at a price of 60? In another word, find out the quantity demanded and su
Explain the concept of price elasticity of demand, income elasticity of demand and price cross-elasticity of demand.
The spot exchange rate between the dollar and the British pound is floating or flexible exchange rate. What are the influences of each of the given on this exchange rate?
Why do you assume that small countries select to peg their exchange rates, while the largest countries float their currencies?
All other things being equivalent, which of the given would not cause the price of a foreign currency to drop?
If the exchange rate for Australian dollar is US$0.7833/A$ and the exchange rate for the Hong Kong dollar is US$0.1280/HK$, then the Hong-Kong Australian dollar exchange rate (HK$/A$) is:
All else equivalent and given the current system of exchange rates, if the US enters a period of exceptionally strong growth
If a US firms borrows one billion dollars in Mexican pesos from Citibank’s Mexico branch and employs the money to build a factory in Mexico, the transactions will enter the US balance of payme
What is the change in Mexico’s economic welfare in going from the condition in (a) to that in (b)?
The payment of dividend by an American company to the foreign stockholder represents
The most usually traded currency in the foreign exchange market is:
In addition to the production and consumption deadweight losses that result from the implementation of tariffs, what are other potential costs of tariffs? List and state at least three examples.
Most of argue that there is ultimately no real difference between a tariff and quota – both raise price and lower the quantity imported. Though, a domestic monopolist facing import competition
There would be no international exchange rate which would permit mutually advantageous exchange between the US and Sweden if the output/labor for candy in Sweden was, rather than 30:
Describe the following concepts: Arc Elasticity and Point Elasticity. How the above concepts of elasticity are useful for managers in decision making?
With the help of instances, illustrate the benefits of economies of scale to a small hotel chain.
By using a simple demand and supply diagram describe what is meant by the term equilibrium price.
Describe with relevant diagrams the price and output determination under Perfect competition. Describe the distinction between General Equilibrium and Partial Equilibrium.
Describe how you would assess the suitability of a transport mode.
Describe the contribution of commodity markets to international trade.
When preparing a quotation for a prospective overseas buyer what necessary elements should be comprised?
Identify three currency exchange contracts available to the exporter and explain the benefits of each type.
Identify four main methods of indirect exporting and describe their advantages.
Which policy is more effective in achieving the government’s goal? Explain using the DMP model, with the aid of diagrams. [In your answer, do not concern yourself with how the subsidies from t