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What could we say about the pattern of production and trade in this case? (Hint: Try constructing the world relative supply curve.
Explain why the cost structure associated with many kinds of information goods and services might imply a market supplied by a small number of large firms.
During the summer of 1997, Congress and the president agreed on a budget package to balance the federal budget.
Describe a real-life shortage or surplus of a good you have wanted to purchase or market at your workplace. How is this imbalance reconciled in the marketplace?
Which country has the comparative advantage in the production of computers? How did you determine your answer?
a) Find the economic order quantity. b) Find the annual holding costs. c) Find the annual ordering costs. d) What is the reorder point?
What are possible causes of a movement up or down along the demand curve? What are possible causes of a movement up or down along the supply curve?
If Redstone wanted to minimize average total cost, it would produce how many units?
Using the given supply and demand schedule above, graph the supply and demand curves for rap music CDs.
Calculate total sales using the SUM function. Calculate total sales for each quarter. (March, June, and September each represent a quarter.).
Analyze how U.S. monetary policy affects the global economy. Determine the most significant monetary policy that the Federal Reserve Bank has been responsible.
If you raise the price of your good but sell more units is this a violation of the law of demand?
Show what happens if the government puts a price floor above the market (equilibrium) price to help producers of root beer.
What is the identification problem? What effect will this problem have on the regression estimates of a demand function?
Explain the differences between shortages and scarcity. In answering this question you should consider the difference between the short run and the long run
Draw the demand, marginal revenue and marginal cost curves. Calculate and show how much this firm will sell and what it will charge.
Compute the monopolist`s profit and the total consumer surplus of purchasers.
Assume initially that Yoland does not open to trade. What is the autarky equilibrium price and quantity?
Illustrate how the Linder theory of trade works. Explain similarities and/or differences between the Linder model and Heckscher-Ohlin model.
Explain the role of economic theory and answer the question, "what is an economic model?"
Which curve shifts and in which direction? what happens to aggregate output and the price level in each case?
How could this affect the US reconstruction policies in Iraq and Afghanistan?
Discuss the advantages and disadvantages to the US economy at this time of a stronger vs. a weaker $.
Question: Explain what economic issues Winston Churchill discussed with Lady Astor?
What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied?