18. Comment critically: “Recycling is beneficial to saving the environment yet it is a complex issue. It calls for changes in attitudes yet even that is not enough since markets are not well developed to be substantial force in preserving the environment.”

The world has experienced a major crisis due to the rapid spread of the Coronavirus: • What are the effects of this crisis on the image of China, The United States, and Europe? • What is the role of international public relations in changing of the image after the end of the virus? And how?

17. Comment critically: “Genetically modified food production has been a very important factor in increasing food stuff and avoiding massive scale starvation.”

Discuss some limitations of unemployment rate figures as a measure of a country’s economic well-being.

u13.
The market for good X is perfectly competitive. The demand and supply functions of good X are given as follows:

uQd = 6000 – 30 P  Qs = –500 + 20 P

uQd is quantity demanded in thousand units, Qs is quantity supplied in thousand units, and P is the unit price in dollars for good X. All 1000 firms in this market are identical and their cost structures do not depend on the number of firms in this market. Currently, this market is in long-run equilibrium.

a. What are the equilibrium market price and market quantity for good X? Please explain your calculations.

Now suppose the government gives an $8 per-unit subsidy to the consumers for each unit of good X consumed.

b. After the provision of this per-unit subsidy to the consumers, what are the short-run equilibrium market price and market quantity for good X? Please explain your calculations

c. What are the long-run equilibrium market price and market quantity for good X after the provision of this per-unit subsidy to the consumers? Briefly explain your answer.

Consider the two investments shown below, only one of which can be chosen. They are one-shot investments. Calculate AW_2-1 assuming 15.9081 interest rate.

1. Ann and Bill have formed a business partnership. They each have to decide how much effort to put into the business. Let x denote the amount of effort Ann puts into the business and let y denote the amount of effort Bill puts into the partnership. The profit of the business partnership depends on the amount of effort Ann and Bill put into the business. It is given by 2x + 2y + 0.5xy hundred thousand dollars. Ann and Bill will split the profit equally however they will separately incur the cost of their own effort. The cost of Ann’s effort is 0.5x². The cost of Bill’s effort is 0.5y². Effort is also measured in hundred thousand dollars.

a. What is Ann and Bill’s payoff function?

b. If Bill puts in an effort level of y = 1, what is Ann’s best response?

c. If they choose their effort levels without knowing their partner’s effort level, what is the Nash equilibrium of this game?

d. What if Ann commits to an effort level first? What are the backward induction effort levels? Does this game have a first mover or a second mover advantage?

5. Problems and Applications Q6

Consider the three theories of the upward slope of the short-run aggregate-supply curve.

According to the sticky-wage theory, the economy is in a recession because the price level has declined so that labor demand is too .

True or False: According to the sticky-price theory, the economy is in a recession because not all prices adjust quickly.

True

False

According to the misperceptions theory, the economy is in a recession when suppliers mistakenly believe that the relative price of their goods has .

1. Suppose that for consumers A and B trading goods 1 and 2 in a general equilibrium framework

uaxa,1,xa,2=xa,1∙xa,2     and   ubxb,1,xb,2=xb,1+2xb,2

The initial endowments are given by ωa=(2,2) and ωb=(3,2) . Depict graphically the Edgeworth box including

1. Its dimensions
2. The location of the initial endowment
3. Each consumer’s indifference curves.

Note that in part (c), I just looking for you to depict the general shape of these indifference curves; you do not have to plot them out using the mathematical functions.

how has a bill of exchange evolved into a check, a promissory note, and a bill of lading?

International Trade Practice exam
Explain key terms:
1) counter sample
2)FCL
3)FPA
4)INCOTERMS
5)Standby L/C

10. You have monthly data on gasoline prices in two cities—Vancouver and Toronto, for the years 2006–2010. In each month of each year, you observe the average price of gasoline in each city. Prices in Vancouver are usually higher than in Toronto, but the cities follow similar price trends, as prices rise in the summer months and respond similarly to demand and cost shocks. However, there are month-to-month fluctuations for various reasons.

    Starting from January 1, 2008, Vancouver imposed a carbon tax which was expected to be reflected in higher gasoline prices. Explain how you would use a difference-in- differences framework to estimate the effect of the carbon tax. Carefully define any new variables you need based on the data provided. Then, write down a line of R code which will run the regression you need. Make sure you point out which regression coeffcient is the desired estimate.

what is title of a bill of lading? State the difference among bills of lading with different title.

Suppose that you are an entrepreneur. Pick a specific industry (in which there is a dominant firm that is profitable) into which you would like to enter. What entry-barriers do you see? What post-entry response do you anticipate, if you nevertheless decide to enter the industry?

why is conditioned weight applied in calculating weight of goods?