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Describe both free and restricted trade. What do you feel are the benefits and the cost to having free trade? What are the benefits and cost to having restricted trade?
Microeconomics, Economics
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Question: In 1961, Charles de Gaulle decided he did not want the French franc to be considered as a second-rate currency, so he chopped two zeros off the value of the franc, which meant the exchange rate was approximatel ...
Question: Consider the one-period following model Utility function: u(c,m)=ln(c) + 2ln(m) Budget constraint: c + m = y A. Set up the Lagrangian with a Lagrange multiplier ? . B. Find the first-order conditions with respe ...
Question: Assume that popcorn and potato chips are substitutes, and popcorn and cola are complements. a. How does a ceiling price (below equilibrium) on popcorn affect the price of cola? Explain. b. Start the problem ove ...
Question: According to many sources, such as the U.S. Census Bureau, Global Issues, and the Joint Center for Poverty Research, the United States has a widening gap between the rich and the poor. Some say that such measur ...
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