Free Trade vs. Protectionism The debate of Free trade vs. Protectionism usually includes a discussion of pros and cons of these 2 approaches. Please, provide one specific example (country, industry and product) where you believe the pro side for the protectionism approach would definitely make sense (from your perspective)! How exactly would the benefits outweigh losses in your example?

Q: Identify 2 possible exclusions to GDP and discuss why they have to be excluded.

A: GDP means the  total  market value of goods and services produced domestically during the year.  The...

Q: Hi! Can you help me understand why monetary and fiscal policies are important? macroeconomic tools u...

A:          1. Why monetary and fiscal policies are important? 2. Macroeconomic tools used to stimulate...

Q: which statement is correct If a good is not being produced by sellers with the lowest cost, then th...

A: Profit Maximization level: The level of production that maximizes the profit of the firm or the leve...

Q: What type of activity creates an externality? Is an externality positive or negative? An externality...

A: Externality refers to the cost incurred or the benefit received by a third party for the consumption...

Q: The following diagram represents an economy in which government spending increases. PPF PPF2 C2 12 (...

A: In an economy, when talking about an increase in government spending, it is generally said that this...

Q: Basketball Production Cost Table Output per Day Total Cost Fixed Cost Variable ...

A:

Q: 1-engineering economics. please give detailed and correct answers. I will report to bartleby thos tu...

A:   A ordinary annuity pays the payment at the beginning of each period, whereas annuity due pays paym...

Q: 4. Consider the following static zero sum game G. Colin A C DE -4 3 -1 -1 2 4 4 C 1. -1 -1 -3 3. -1 ...

A: Zero sum game is defined as the game in which the sum of payoffs of both the players is equal to zer...

Q: The following diagram represents an economy in which total factor productivity z increases. PPF2 PPF...

A: Gross domestic product (GDP): - GDP is the market value of all final goods and services produced in ...

Q: How has that migration of labour been of advantage to other countries?

A: Migrant labour are considered as those informal and unskilled workers who pass about systematically ...

Q: Does the absolute PPP imply the relative PPP? What about the other way around?

A: Introduction   PPP - Purchasing Power Parity   According to absolute PPP, the price of a basket of g...

Q: The economy below has a linear production possibility frontier, given by C=Y-G/q. The government has...

A: Since public good is inferior, its quantity demanded goes down if it becomes cheaper. Here because o...

Q: If these population changes were only due to human migration, what conclusions could be made, based ...

A: Answer: Introduction: Immigration: Immigration means the movement of people to a foreign country for...

Q: Name the four factors of production and the incomes they earn. The factor of production and the fact...

A: Factors of productions are referred to as those inputs which are used in the process of production o...

Q: List some arguments for and against the likelihood of “convergence”. What sorts of policies can gov...

A: An interaction wherein economies of various nations become more like one another: Economic combinati...

Q: econorusts are baying that eauntores have inplation,

A: Despite the fact that the Fed's performance has never been stronger, with both unemployment and infl...

Q: Consider the following time series representing % deviations from trend for Investment (black) and G...

A: Given the graph shows the deviation in percentage on the verticle axis and the number of years on th...

Q: An Economy is composed of a Producer of Apples, a Producer of Bananas, a Grocery Store, Consumers, a...

A: Total profits = Profits made by Apple producers + Profits made by banana producers + Profits made by...

Q: Examine the graph below to answer the following question regarding "substitution and income effects"...

A: The budget line is a straight line that shows the possible attainable combination of two goods that ...

Q: Data for 2019 (Base Year) Data for 2020   Quantity Price Quantity Price Potato 600 2.50 68...

A: Dear student, you have asked multiple sub-part questions in a single post. In such a case, I will be...

Q: Consider the following strategic form gam L M R 2,4 1,2 0,1 D 1,0 1,1 3,3

A: E(U) = 2q1 + 1q2 + 0(1-q1-q2) (Strategy 1) E(D) = 1q1 + 1q2 + 3(1-q1-q2)  E(U) = E(D) 2q1 + 1q2 + 0 ...

Q: The share of U.S. workers who belong to a labor union has been for 50 years. Select the correct answ...

A: A labor union is an association of laborers that haggles with bosses over wages and working circumst...

Q: Instead of paying P100,000 in annual rent for office space at the beginning of each year for the nex...

A: Loan amount= P1000,000 Number of years= 10years Interest rate= 6% Amount invested= P100000 Interest ...

Q: Sally is trying to decide what flavor of cake to make for an upcoming party.  She polls some of her ...

A: Approval Method of making a choice is the one in which participants are provided with the choices an...

Q: It is the periodic compensation for the use of money; the amount of money paid for the use of borrow...

A: The price of capital is called interest. Interest rate refers to the percent of the principal value ...

Q: 1. Place the phases of the Business Cycle in order. The phases (in no particular order here) are: Re...

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the exac...

Q: Income Expenditures 0 100 100 150 200 200 300 250 Refer to the table above to answer the following...

A: AE is shows aggregate  expenditure in the economy, some of which is autonomous and some is induced.

Q: which statements are true Harold is willing to pay $25 and Maude is willing to pay $18 for a steak ...

A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the qu...

Q: Why do some marginalised groups in the USA and Canada reject the idea of globalisation? In answering...

A: The relationship between policies that promote globalisation, economic growth, inequality, and pover...

Q: A duopoly faces a market demand of p= 120 - Q. Firm 1 has a constant marginal cost of MC' =$10. Firm...

A: Collusion is a non-competitive, secret, and sometimes illegal agreement between rivals which attempt...

Q: Question 17 The 1974 federal legislation that exempted emplovers from certain state laws governing h...

A: The 1974 federal legislation that exempted employers from certain state laws governing health insura...

Q: 1. Consider an economy with L > 1 commodities. Show generally that if Walras' law holds, there is at...

A: According to Walras' law, p1 z1 (p1 , p2 ) + p2 z2 (p1 , p2 ) = 0.   In other words, the value of ag...

Q: A concrete pavement on a street would cost $10,000 and would last for 5 years with negligible repair...

A:

Q: SA Sq PA Pg Q TRg TRg TE fer to the diagram above. What will happen at the market if supply increase...

A: Referring to the LHS Diagram: When the supply increases from SA to SB, there is a rightward shift in...

Q: C2. | Consider a closed demand-determined economy with fixed prices and wages. Consumption depends p...

A: Slope of IS curve is determined by taking goods market equilibrium equation in the form of Y in term...

Q: Y YA Ys XA Xs The graph above represents the PPF for two goods X and Y Which of the points is most b...

A: The answer is - A, B

Q: 3. In a von Thunen model with homogeneous labor with subways and cars, an improvement in automobile ...

A: The Von Thunen model of agricultural land use which explains the relationship between the cost of la...

Q: The graph shows the supply curve of haircuts and the market price of a haircut. Price (dollars per h...

A: In a perfect competitive market, the marginal cost of the firm is shown by its supply curve. Produce...

Q: 3. Howard consumes only two goods. An economist has collected the following data on Howard's consump...

A: Paul Anthony Samuelson, an American economist, introduced the concept of revealed preference in 1938...

Q: Suppose favorable weather provides increases apple production. As a result, consumer surplus in the ...

A: Hi! Thank you for the question, as per the honour code, we are allowed to answer three sub-parts at ...

Q: How do laws and politics affect the trade between states?

A: Worldwide alternate laws create the rules that international locations and groups need to comply wit...

Q: A4 1. Two chemical companies, A and B, operate in a small New England town. Every week A releases 40...

A: *Hi there , as you have posted multiple question . As per our guidelines we are only allowed to solv...

Q: Suppose that Helena's utility over goods x and y is given by U (x, y) = 2/a + 9 Solve Helena's utili...

A: This is the optimisation problem which consists either you minimise the cost ( consumer budget ) or ...

Q: Consider the following scenario. Aggregate output y at date t is specified as follows, where the tre...

A: Output Equation in the economy - yt = πt - πte + y⏜ Where πt = Actual inflation rate , πte = Expecte...

Q: The table below gives a firm's costs. Output Fixed costs ($) Total costs ($) $80 $50 1 $80 $55 2 $80...

A: PRODUCTION cost is the incurred monetary value to produce the goods on factor of production . It is ...

Q: Unions tend to the introduction of labor-saving technology. Select the correct answer below: promote...

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any ...

Q: what are the advantages and disadvantages of Rice Tariffication Law to the rice farmers.

A: Trade is defined as the exchange of commodities and services across the boundary of the country.  In...

Q: Suppose that each firm in a competitive pizza market has the following identical cost:  Total cost: ...

A: Given Total cost function of each firm  TC=25+1.5Q2             ... (1) Demand function Q=120-P or P...

Q: A firm has the following average total cost curves: Quantity ATC11 ATC22 ATC33 ATC44 1 100 150 50 2...

A: Answer-

Q: In the production model developed and presented in classes, which of the following is NOT an exogeno...

A: An exogenous variable in an economic model is one whose value is determined outside of the model and...