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In 2007 the country of Ikonomia has a current account deficit of $1 billion and a non reserve financial account surplus of $750 million. Ikonomias capital account is in $100 million surplus.
Which of the following scenarios best illustrates the idea of perfect competition?
In the long-run in perfectly competitive industries the (long-run) supply curve of the industry can be derived. Explain likely outcomes (slopes) of long-run supply curve in various situations
In about 300 words, describe the key elements of technology-enabled customer relationship management and outline the advantages that technology-enabled customer relationship management has over tra
What happens to the official measure of GDP in Air quality improves significantly throughout the US, but there are no effects on aggregate production or on market prices of final goods and services
You are a chairperson of a state tax commission responsible for establishing a program to raise new revenue through exercise taxes. Why would elasticity of demand be important to you in determinin
Trade restrictions have a significant impact upon international trade. Identify and discuss at least two arguments that support trade restrictions and two against trade restrictions. Use at least o
Define gross domestic product. Determine whether each of the following would be included in the 2007 U.S. gross domestic product:
Some economists argue that in long-run equilibrium under conditions of monopolistic competition there is economic waste because price is greater than marginal cost and average total cost is not at a
What is happening to the unemployment rate? Use the sticky-wage theory of aggregate supply to explain what will happen to output and the price level in the long-run
Into which consumer product classification does the Smart Car fall? What are the implications of this classification for MCC's marketing strategy? What individual product decisions and product line
Why is it likely that in a system of private education (i.e., a system in which individuals pay for their own education) there will be underinvestment in education? *Remember, education, likes yard
How does a deterioration in balance sheets of financial institutions and the simultaneous failures of these institutions cause a decline in economic activity?
Economists who work for the government are often called on to make policy recommendations. Why do you think it is important for the public to be able to differentiate normative statements from posi
Describe the change in the equilibrium price and quantity, and explain your answer. Is the equilibrium price higher or lower, or is the change indeterminate
Evaluate the relative importance of economies of scale and comparative advantage in causing the following: Half of the world's large jet aircraft are assembled in Seattle, Most Scotch whiskey comes
When a government wants to increase tax revenue, they will often increase the sales tax on gasoline. Using price elasticity of demand, explain why the tax would be placed on gasoline rather than, s
Are unions good or bad for the economy? How do unions at GM and Ford affect employment levels and wages? How do unions affect other industries in terms of employment and wage levels?
If the value of the marginal product of labor exceeds the wage, then the firm could.?
Suppose the demand and supply curves for eggs in the United States are given by the following equations:
Explain how each of the following changes would shift the aggregate expenditure function and the aggregate demand curve.
Are hotel rooms for people on business to meet an important client price elastic or price inelastic and how the necessity of a good and the availability of substitutes affect the price elasticity o
If the reserve requirement(rr)is 0.2, what is the simple deposit multiplier? if, in addition, the currency deposit ratio(c) is 0.05 and the excess reserve ratio(e) is 0.15, what is the money multipl
"How does the income approach to measuring GDP differ from the expenditure approach? Explain the meaning of value added and its importance in the income approach. Consider the following data for the
Explain the underlying basis for foreign direct investment, and discuss several factors that may contribute to it. What factors have likely contributed to the current U.S. net direct investment posi