How decrease in income affect current account balance
Question: How would a decrease in income in the United States affect the U.S. current account balance? Explain.
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Provide an example of a firm or a small business from the real world that is surviving the dynamic nature of monopolistic competition.
Calculate and interpret the cross-price elasticity with respect to other beans. Calculate and interpret the cross-price elasticity with respect to pork.
Suppose a Smart phone cost $350 in Canada and Yuan 2,500 in China. What is the value of the real exchange rate? In which country is the Smart phone cheaper?
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What are the long-run level of output and price level? Suppose B= 0.33 (in other words, AD shifts by 33%). Calculate the new short-run equilibrium.
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