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Explain the national defense, declining industries, and infant industry arguments for protecting a domestic industry from international competition.
High tariffs usually lead to black markets and smuggling. What determines which goods a country should produce and export?
What are the primary reasons for international trade? How does international trade affect consumption possibilities?
Add a Lorenz curve for Brazil illustrating how the distribution there is significantly more unequal than in the United States.
The front page of the Marketplace section of the Wall Street Journal often. How are the actions of U.S. businesses affecting income distribution and poverty?
Analyze why do economists pay more attention to national economies (for example, the U.S. or Canadian economies) than to state or provincial economies?
Draw the part of the new supply curve that will intersect the demand curve. Identify the new price of oil in Yacimiento and the quantity demanded at this price.
Identify the quantity demanded and domestic quantity supplied with the tariff. Shade the area representing government revenue generated by the tariff.
Identify how many sweaters Canadians can have if they keep 30 chairs and trade the rest for sweaters.
. Look at today's issue and find an article dealing with trade barriers-tariffs, quotas, and so on. Model the trade barrier using a graph.
Two strategies frequently used to stimulate economic development are export promotion and import. Describe the advantages and disadvantages of each strategy.
Suppose that the world price for steel is below the U.S. domestic price, but the government requires. What government revenues are generated by this policy?
Under what circumstances would the net welfare loss from an import quota exceed the net welfare loss from an equivalent tariff?
Based on your own experiences, extend the list of analogies between the human body. Then, determine which variables in your list are stocks and which are flows.
Describe the various components of fluctuations in economy activity over time. Because the economic activity fluctuates, how is long-term growth possible?
Draw an initial set of AD and AS curves and then determine which curve will be affected and in which direction it will shift.
What might happen if such a tax cut also generated a change in aggregate demand?
The price level grew faster than real GDP between 1947 and 2003. Does this mean that the rising price level masked an actual decline in output?
What were some of the causes of the stagflations of 1973 and 1979? In what ways were these episodes of stagflation different from the Great Depression of 1930s?
Describe the relationship illustrated by the aggregate demand curve. Why does this relationship exist?
Why does a decrease in aggregate demand result in a lower level of employment, given an aggregate supply curve?
Analyze Why doesn't the National Bureau of Economic Research identify the turning points in economic activity until months after they occur?
(Resolving the Common-Pool Problem) Why have authorities found it so difficult to regulate the fishing catch to allow for a sustainable yield?
Choose one such article and decide which it describes. Classify the benefits and the costs as either concentrated or widespread.
The cost of running the government program (assuming no storage costs). What is the total cost of the program to consumers?