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What argument can the economic consultant make to justify her advice that the firm should increase its wages?
What would be very wrong about government unemployment insurance payments failing to rise during a recession?
Briefly explain whether you agree with the following statement, made by a representative of the pizza industry: The pizza industry is very competitive.
Compare the economic surplus in this market when there is a price floor and when there is not.
Why should government officials use regulations to try to provide dependable incomes to every business in the country?
Why Does the graph in the Making the Connection help you understand why black teenagers may have been disproportionately affected by the minimum wage law?
Why would the prices for short-term rentals in the city listed on Airbnb and other peer-to-peer sites be likely to rise or fall? Briefly explain.
Why do you agree with the student's reasoning? Use a demand and supply graph to illustrate your answer.
If the prices of hotel rooms are not allowed to increase, what will be the effect on out-of-town football fans?
Draw a demand and supply graph for the market for kidneys. Show on your graph the legal maximum price of zero and indicate the quantity of kidneys supplied.
Explain the effect on the equilibrium interest rate and output level of an increase in the real money supply, state if this is an expansionary or fiscal policy.
Malawi coffee producers come to you and ask for tariff protection from cheap Tanzanian coffee. What sorts of policies will you enact? Explain.
What has to happen for there to be no increase in total unemployment in both countries?
Explain why protectionism is a second-best choice for: helping workers as a group, helping industries stay strong and protecting the environment.
In your opinion, does that mean that trade should be inhibited to prevent the losses?
What are some examples of political power countries must give up to be members of an economic union?
Why do you think that the GATT rounds and, more recently, WTO negotiations have become longer and more difficult to resolve?
Why might a tax on domestic consumption of resources critical for national security be a more efficient approach than barriers to imports?
Why might the unsafe consumer products argument be a more effective strategy than using tariffs or quotas to restrict imports?
Is it legitimate to impose higher safety standards on imported goods than exist in the foreign country where the goods were produced?
How do you think Americans would feel if other countries began to urge the United States to increase environmental standards?
Microeconomic theory argues that it economically rationale (and profitable) to sell. How is this relevant to the determination of whether dumping has occurred?
How can governments identify good candidates for infant industry protection? Can you suggest some key characteristics of good candidates?
Assume these phones are the same type and quality and there is only one price. What is the minimum price at which both countries will engage in trade?
What is the global impact of this increase over 10 years? How does this increase compare to the annual GDP of a country like Sri Lanka? Discuss.