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If there are 60 apple producers, each with identical cost structures, how many apples does each producer supply to the market?
If the increase in demand for curling stones persists, do you expect the long-run equilibrium price to increase, decrease, or stay the same?
Why might a country that is more productive in producing wheat than its trading partners end up importing wheat?
If India has abundant labor, and the U.S. has abundant capital, which good will the U.S. export? Is trade beneficial to textile laborers in the U.S.?
If Egypt becomes a net-exporter, will domestic supply be equal to, less than, or greater than domestic demand?
Explain the impact of the new fiscal policy actions on individuals and businesses within the economy by integrating the macroeconomic data and principles.
Two Issues (your choice): Here you will need to discuss the two unemployment or inflation-related issues.
What are the chief elements of Pollin's proposal to transform the Fed? How would the Fed's focus and decision-making change?
What are some of the variants of the simple Bass model? What are the limitations of the Bass model?
Why is the aggregate demand for goods and services inversely related to the price level? What are the major markets that coordinate macroeconomic activities?
What might be the causes of poverty or lack of economic development in your chosen country? What economic policies might you recommend for this country?
What factors make it difficult to determine the unemployment rate? What are the noneconomic effects of unemployment?
Compare and contrast the command economy, the capitalist economy, the traditional economy and the mixed economy.
What is a eurocurrency? How did the eurocurrency market develop? What risks do bankers assume when making loans to foreign borrowers?
What factors influence the rate of growth in the volume of world trade? What are some of the major arguments for and against an open trading system?
What problems does terrorism pose for globalization? Identify some of the major challenges confronting the international trading system.
What is meant by voluntary export restraints, and how do they differ from other protective barriers?
A subsidy may provide import-competing producers the same degree of protection as tariffs or quotas but at a lower cost in terms of national welfare. Explain.
In 1980, the u.s. auto industry proposed that import quotas be imposed on foreign-produced cars. What would be the likely benefits and costs of such a policy?
What would be the likely effects of export restraints imposed by Japan on its auto shipments to the United States?
How do managed floating exchange rates operate? Why were they adopted by the industrialized nations in 1973?
Define and explain the three key economic ideas: 1) people are rational; 2) people respond to economic incentives; 3) optimal decisions are made at the margin.
The Heckscher-Ohlin theory demonstrates how trade affects the distribution of income within trading partners. Explain.
How does the Leontief paradox challenge the overall applicability of the factor-endowment model?
What is meant by the foreign-exchange market? Where is it located? What is meant by the forward market? How does this differ from the spot market?