Questions
Apart from the gains from comparative advantage, what other benefits does a nation gain from trade?

Apart from the gains from comparative advantage, what other benefits does a nation gain from trade?

In: Economics

What are Employee Involvement and Participation (EIP) programs? What are the costs and benefits?

What are Employee Involvement and Participation (EIP) programs? What are the costs and benefits?

In: Economics

Explain step-by-step process by which commercial bank could increase the money supply.

Explain step-by-step process by which commercial bank could increase the money supply.

In: Economics

show how the short-run model would change with a decrease in domestic money supply, specifically noting...

show how the short-run model would change with a decrease in domestic money supply, specifically noting the impact on domestic interest and the price level

In: Economics

Greece is a member of the Eurozone. It uses the Euro as its main currency. Hence,...

Greece is a member of the Eurozone. It uses the Euro as its main currency. Hence, the Greek currency is fixed relative to other members of the Eurozone but the value of Euro fluctuates relative to other currencies. Hence we can view the Greek currency as being flexible relative to countries outside the Eurozone. Also note that for a prolonged period of time, the Greek government was spending more than it was raising in tax revenue. Creative accounting understated the size of government borrowing until the late 2000s before the real size of the government debt and deficit was revealed. 1A trade weighted nominal exchange rate is an average of the value of the Australian dollar against Australia’s twenty largest trading partners. 2 (a) Suppose Greece had its own currency, say the Drachma, and a flexible exchange rate. Describe what would have happened to the exchange rate when the real size of the government debt was revealed? What effect would this change in the exchange rate have upon the real economy in Greece? (b) Greece is a member of the Eurozone. What effect upon the Euro did revealing the size of government debt have upon the value of the Euro? What effect would this change in the exchange rate have upon the real economy in Greece? (c) What do you think were the costs for Greece of joining the Euorzone, and what do you think have been the benefits?

In: Economics

what is the customer segment and early adopters in air filter company ?

what is the customer segment and early adopters in air filter company ?

In: Economics

Explain the relationship between net capital outflows and a nation’s trade balance. Explain whether most (not...

Explain the relationship between net capital outflows and a nation’s trade balance. Explain whether most (not Peter Navarro) economists consider a trade deficit to be an issue for the United States and why. Explain what purchasing power parity (PPP) implies about the relationship between nominal exchange rates and price levels. Explain whether PPP accurately portrays the current relationship nominal exchange rates and price levels across nations and why.

In: Economics

write a better definition for marketing. Justify your reasoning for the things you include. Hint, maybe...

write a better definition for marketing. Justify your reasoning for the things you include. Hint, maybe it could mention more of the different people who use marketing in a nontraditional sense and/or marketers’ responsibilities to buyers and society.

In: Economics

Suppose a market is characterized by the following: QD = 1,500-3P QS = -500+2P A) Determine...

Suppose a market is characterized by the following:

QD = 1,500-3P

QS = -500+2P

A) Determine the equilibrium price and quantity .

B) Graph the equilibrium price and quantity in part A)

C) Suppose the government imposes a per-unit tax of 5 (ie. 5 dollars in tax on every unit

purchased) on buyers. Solve for the new equilibrium price and quantity. HINT: There are

two prices and one quantity to solve for. .

D) Determine the total amount of tax revenue collected by the per-unit tax in B) .

In: Economics

The Tampa Tribune and the St. Petersburg Times compete for readers in the Tampa Bay market...

The Tampa Tribune and the St. Petersburg Times compete for readers in the Tampa Bay market for newspapers. Recently, both newspapers considered changing the prices they charge for their Sunday editions. Suppose they considered the following payoff table for making a simultaneous decision to charge either a low price of $0.50 or a high price of $1.00. Tampa’s profits are shown in bold. St. Petersburg’s profits are in regular type.

For questions 1 – 10, choose the correct answer to fill in the blanks. Use the suggested words in parentheses after each blank.  A detailed explanation must be given to defend each choice.

Tampa Tribune

Low Price

High Price

A.

B.

Low price

$120,000

$54,000

St Pete Times

$100,000

$120,000

C.

D.

High Price

$90,000

$88,000

$54,000

$90,000

Save
Submitted
2. St. Petersburg Times' dominant strategy is ____________ (low price, high price, it has no dominant strategy).

3. Tampa Tribune's dominated strategy is ____________ (low price, high price, it has no dominant strategy).

4. St. Petersburg Times' dominated strategy is ____________ (low price, high price, it has no dominant strategy).

5. This newspaper pricing decision ________ (is, is not) a Prisoners' Dilemma.

6. Is there a Nash Equilibrium in this game? If so, which cell(s) is/are the Nash? Is/are the Nash Dominant Strategy Equilibrium?

7. Which cell(s) is/are strategically stable?

In: Economics

Discuss the differences between frictional, structural, and cyclical unemployment. As a member of the labor force,...

Discuss the differences between frictional, structural, and cyclical unemployment. As a member of the labor force, are you employed? Unemployed? Explain the basis of your answer.

In: Economics

Suppose we learn that the price elasticity of demand for luxury custom homes is -2.13, but...

Suppose we learn that the price elasticity of demand for luxury custom homes is -2.13, but for ordinary track homes it is -0.67. Interpret these elasticities, providing descriptions that an average person can understand. In addition, explain why a taxing authority might want to understand the elasticity concept when deciding whether or not to place a higher tax on luxury homes than on ordinary homes.

In: Economics

3. Individuals and policy makers for large groups can make decision errors when they do not...

3. Individuals and policy makers for large groups can make decision errors when they do not consider benefits and costs at the MARGIN. Consider either actions taken to reduce the spread of the Covid virus or actions that might be taken to reduce racism. Illustrate what it means to consider benefits and costs as the margin. Do your best to distinguish problematic thinking from more proper thinking.

In: Economics

two characteristics of leader countries and 1 example.

two characteristics of leader countries and 1 example.

In: Economics

How does foreign direct investment contribute to technology transfer?

How does foreign direct investment contribute to technology transfer?

In: Economics