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Write a script for two speakers arguing about globalization and its effects. Give each speaker a name and then write a script for a debate between the two.
What would happen to the equilibrium price and quantity of kiwi fruit consumed in the United States?
How would the effects of international trade on the domestic orange market change if the world price of oranges were above the domestic equilibrium price?
Explain the effects of a tariff if the United States were an auto importer with free trade. Then use the graph to illustrate and explain the effects of a quota.
For each of the goals listed in exercise, discuss what the appropriate commercial policy is likely to be (in terms of tariffs, quotas, subsidies, and so on).
Which country has the comparative advantage in beef production? Which country has the comparative advantage in computer production?
What is the growth rate for an economy in which TFP grows at a rate of 3 percent per year, the size of the labor force is unchanged, the capital stock grows.
What is the growth rate for an economy in which TFP is constant, labor grows at a rate of 1 percent per year and capital grows at a rate of 2 percent per year.
What is the growth rate for an economy in which there is no growth of resources but TFP grows at a rate of 1 percent per year?
Total factor productivity is growing at an annual rate of 2 percent, the labor force is growing. What is the annual growth rate of real GDP?
Suppose labor's share of GDP is 70 percent and capital's is 30 percent. What is the growth rate of total factor productivity?
Discuss how Farmers go on strike for six months. Illustrate and explain how a political business cycle is created.
If the government budget deficit equals $220 billion, and the money supply increases by $100 billion, how much must the government borrow?
Economists have identified two kinds of macroeconomic expectations. What are the implications for macroeconomic policy of these two forms of expectations?
Which countries have their monetary policy made by the ECB? How is the ECB different from the Federal Reserve?
If the Fed now purchases $500 worth of government bonds from private bond dealers, what are excess reserves of the banking system?
Why do you demand money? What determines how much money you keep in your pocket, purse, or bank accounts?
Which sector spends the most? Which sector spends the least? Which sector, because of volatility, has importance greater than is warranted by its size?
Why does the value of output always equal the income received by the resources that produced the output? What does it mean if net exports are negative?
Discuss what is the fundamental problem associated with overfishing of the oceans? What might lead to underfishing?
Discuss what government policies might be used to reduce poverty most effectively? Explain what is meant by the term discrimination.
What would it mean if the poverty income level of US were applied to Mexico? Why does the health of the economy affect the number of people living in poverty?
How does an increase in foreign income affect domestic aggregate expenditures and demand? Draw a diagram to illustrate your answer.
Discuss how is the short run different from the long run? Draw an aggregate demand and supply diagram f Japan.
Draw a short-run aggregate supply curve that gets steeper as real GDP rises. Explain why the curve has this shape.