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Hardwood Cutters offers seasoned, split fireplace logs to consumers in Toledo, Ohio. Calculate the company's optimal profit and return-on-sales levels.
Discuss three tools government can use to influence imports. Discuss and evaluate the two classical arguments for trade protection and restriction.
Suppose that Kiribati can produce 1000 tons of breadfruit or 500 tons of fish, and that Tuvalu can produce 750 tons of breadfruit or 1875 tons of fish. Which country has a comparative advantage in p
Describe the contrasting views of the Keynesians and the monetarists with regard to an appropriate contractionary (tightening) policy to bring an economy out of a period of high inflation caused by
Given the above, what would you predict about the overall direction of the economy? Explain your answer. Describe the appropriate monetary policy that the Bank of Canada should be operating, given the
Calculate the revised slope of the AE curve and the multiplier when you know that the imports and the marginal tax rate will reduce the slope of the AE curve by another 0.30.
what is the change in quantity of money that will eventually result? Assume that the currency drain is 0.15 and the desired reserve ratio is 0.05, and show your calculations.
Describe any two key tools of monetary policy, and describe how they would be used to implement expansionary monetary policy.
Is there a trade-off between the unemployment rate and inflation in the long run? How is the long-run aggregate supply curve related to the long run Phillips curve?
Calculate the slope of AE curve and the size of the multiplier if MPC=0.75. Then, calculate the revised slope of the AE cure and the multiplier when you know that the imports.
In a sample of 40 stores, they sold, on the average, 370 suits per year with a standard deviation of $60. What is the test value for this hypothesis?
Suppose a monopolist faces the following demand curve: P = 180 - 4Q. Marginal cost of production is constant and equal to $20, and there are no fixed costs. What is the monopolist's profit maximizing
With each provider. What is the cost to your friend of an extra minute on the phone? How much consumer surplus would he obtain with each provider?
How will the following events affect the demand for money? In each case, specify whether there is a shift of the demand curve or a movement along the demand curve and its direction.
The manufacturer of high-quality flatbed scanners is trying to decide what price to set for its product. Determine the short-run profit-maximizing price.
It seems that simulation could handle any situation or study. But is that always true? Discuss instances in which a simulation would be important and useful, and then a situation in which a simulati
Bank Y has liabilities of $800 million while Bank Z's liabilities are $900 million. In which bank would you prefer to hold on an equity stake?
Identify the parts of the model that correspond to the flow of goods and services and the flow of dollars for each of the following activities.
They will not be able to use these resources." If this assertion is true, full employment of resources may not be a good thing. Comment on the validity of this assertion.
What happens, instead, is that the Fed does not raise aggregate demand as much as the public expects (bias upward).
What arguments can be made for charging a lower than the profit-maximizing price? What price from the available prices do you recommend? Explain.
How does theory hypothesize that a current account trade deficit will be resolved? Why does the US's persistent current account deficit not get reduced this way, meaning what other factors are in pl
Result in a fall in annual demand of 75,000 units. What is the price elasticity of demand measuring the responsiveness of demand over this range of price increase?
If households receive $60 billion in wages, $10 billion in rent, and $20 billion in interest, how much are households paid for providing entrepreneurial ability?
Explain the impact of each of the events on the location of a firm's long-run expansion path. assume that labor is plotted on the horizontal axis and "other inputs" are plotted on the vertical axis.