Q. Assume an economy produces only footballs also baseballs also the base year is 2005. Illustrate what is the value of nominal GDP in 2006?
Q. "The most valid arguments for tariff protection are also the most easily abused." Illustrate what are these particular arguments? Why are they susceptible to abuse? Evaluate the utilize of artificial trade barriers, such as tariffs also import quotas, as a means of achieving also maintaining full employment.
Q. Elucidate how do you compute the effective price reduction resulting from a coupon promotion?