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Greece is currently in an unsustainable fiscal situation with rapidly increasing government debt. This can be handled in three ways: (i) a drastic domestic fiscal consolidation; (ii) official financ
Ireland and Spain are now in deep economic crises after preceding booms with fast credit growth, house price bubbles and real appreciations. a) Why could not these countries pursue economic policies
In the late 1990s, several East Asian economies had their currencies pegged to the U. S. dollar. Suppose there is an economic boom in the United States that leads to an increase in U. S. interest rat
A monopoly sells its good in the U.S. and Japanese markets. The American inverse demand function is pA=100-Qa, and the Japanese inverse demand function is p1=80-2QJ, where both prices, pA and pJ, ar
A telephone poll of 700 American adults asked "Where would you rather go in your spare time" One response, by 250 adults, was "a casino". Compute and explain a 95% confidence interval estimate of th
The " big three" auto manufactures in the US were in financial trouble, with both General motors and Chrysler filling for bankruptcy and significantly downsizing. Chsysler being taken over by Italia
The UK entered the European Exchange Rate Mechanism (ERM) in October 1990 at 2.95 Deutsche mark per pound and agreed to keep the pound within a range of ±6% against other member currencies of
In the wake of Chairman Ben Bernanke's announcement in November 2010 that the Federal Reserve Board would pump an extra $600 billion into the ailing US economy over the next eight months, China and
Compare the economic performance of these countries in the postwar period and in 1980s-1990s. Do the economic systems of these countries become more or less similar the last 20 year
Conduct some research of your own and come up withat least ten(10) potentially useful/ interesting economic facts-five(5) for the U.S & five(5) for your home state_ that might be useful in you r
The PPF curve shows the economic choices a country can make about production given scarce resources, a given technology, and a given quantity of inputs. Assume you are a developing country, producin
consider trade relations between the United States and Mexico. Assume that the leaders of the two countries believe that the payoffs to alternative trade policies are as follows. What are the domina
Now consider what has happened in the market for illegal downloads. As the article suggests, lawsuits brought by the Recording Industry Association of America (RIAA) seem to have raised the cost mos
Define "money" and explain the process of money creation in the U.S. money and banking system including the structure and operation of the Federal Reserve System and its importance in controlling th
Using the Keynesian cross model, draw a graph to illustrate and explain what will happen in an economy when planned aggregate expenditures are greater than real GDP (i.e., A.E. > Y). How is equi
Mexico is a producer and exporter of crude oil. Since Mexico is a relatively small crude-oil producing country, its actions do not affect world prices; as an exporter, Mexico faces a foreign demand
The US cigarette industry has negotiated with Congress and government agencies to settle liability claims against it. Under the proposed settlement, cigarette companies will make fixed annual paymen
instead of legislation banning the imports, assume that the government enacts a special tax on imported clothing that is so high that the selling price of the imports would be equal to the selling p
In 2006, U.S. output was $13.2 trillion, and Chinese output was $2.8 trillion. Suppose that from now on, the output of China grows at an annual rate of 8.8% per year (roughly what it has done during
why are some groups in the U. S. extremely critical of corporations that earn growing profits Is this criticism a function of large CEO salaries or is something else driving these attacks
Macropoland, a country that is a natural gas and oil importer, has a natural rate of unemployment (at the full employment level of GDP) that is about 4.5%, and the long run average rate of inflation
Suppose that an auto company owned entirely by German citizens opens a new factory in South Carolina. What would be the effect of this investment on U.S. GDP Would the effect on U.S. GNP be larger or
Does farming in the United States have the characteristics of perfect competition How does perfect competition in the farming industry help farmers and consumers or Hurt farmers and consumers
Review the case study "Dell Mercosur: Getting Real in Brazil" at the end of Chapter 19 in the textbook. Address the following components in a well-written response. Remember to cite any sources used
In a 1990 article assessing the 1980's, Time reported that: "The good news is that U.S. gross national product doubled during the 1980s, from $2.7 trillion to $5.3 trillion." The GNP number they ref