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Explain how the Canadian and Chinese gains from trade will change. Who in Canada will lose and who will gain?
How the tariff on textiles will change the price that Canadians pay for textiles, quantity of textiles imported and the quantity of textiles produced in Canada.
Explain who in Canada would gain and who would lose from such a quota.
Explain how the quantity of Canadian exports to Mexico and the Canadian government's tariff revenue from trade with Mexico have changed.
Explain how the price that Canadian consumers pay for goods from Mexico and the quantity of Canadian imports from Mexico have changed.
Draw a graph of the market for beef in Canada to show how this ban changes Canadian consumer surplus and producer surplus from beef and creates deadweight loss.
Explain how South Korea's import ban on Canadian beef affected beef producers and consumers in South Korea. Draw a graph of the South Korean market for beef.
Draw a graph of the market for corn in poor developing country in Problem 15(b) to show the changes in consumer surplus, producer surplus, and deadweight loss.
What is the effect on the world price of corn of the increased use of corn to produce ethanol in Canada, the United States, and Europe?
How does the quantity of steel produced in India change? How does the quantity of steel bought by India change?
How are the forecasts likely to be inaccurate? What do you think is driving this inaccuracy? How might this problem be solved?
Discuss the advantages of using divisional profit as the basis of incentive compensation for division managers compared to using company profit as the basis.
Jeannine, a successful real estate agent in San Francisco. What part, if any, of this transcation will be included as a part of U.S.GDP in 2011?
What is meant by absolute poverty? What measures of income poverty are favored by development economists?
What part, if any, of this transaction will be included as a part of U.S. GDP in 2011?
Why is it so important for us to differentiate between the two? What happens if we do not define or define wrongly?
Provide an example of each economic system. Compare the pros and cons of each economic system. Identify the economic system we have in the United States.
What is the role of price in a market economy? How has price elasticity influenced the retail market?
What is a mixed economy? Who are Karl Marx, Adam Smith, and John Maynard Keynes? What were their contributions to economics?
Concerned about the crowding-out effects of government borrowing on private investment spending. What are the advantages and disadvantages of such a plan?
After three years, what is the cumulative real inflation tax paid? What is the real inflation tax paid by Maria for the third year?
The last two numbers in the column show the levels of the monetary base in the last year. How much did it change?
How did this limit the potential for monetary policy to help alleviate the Depression?
If price stability is the only goal of monetary policy, explain how monetary policy would be conducted during recessions.
How could the central bank achieve this goal in the short run? What would happen in the long run? Illustrate with a diagram.