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List five arguments often given to support trade
restrictions. How do economists respond to these
arguments?
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- Define the meta-theoretical commitments made by orthodox economics.“Economics is the distribute scare resource to different group of society” - justify this statement from the different view of economics.What is the outcome of the Stolper-Samuelson Theorem??? Account for lessons derived and offer appropriate policy recommendations.
- We have seen that monetizing the benefits of environmental improvements is difficult. Consequently, some researchers have argued that policymakers themselves should determine the goals of environmental policies in terms of how much pollution abatement is necessary, and then market-based environmental policy tools should be used to achieve such goals in a cost-effective manner. Examples of such market-based tools include all of the following except ____. A. Pollution Taxes B. Abatment Subsidies C. Command and Control Policies Please Answer Correctly Will Rate IF Correct!Compare and contrast Say's law with Kemudian economics.Which of the following economic concepts causes the free rider problem? Rivaled consumption. When a good or service is offered at no charge Elasticity Marginal Revenue Nonexcludablity in consumption
- u(x,y) = x + y Px=9 Py=3 U=120 Solve for hicksian demand for good x and y.Senator Ernest Hollings once wrote that "consumers do not benefit from lower-priced imports. Glance through some mail-order catalogs and you'll see that consumers pay exactly the same price for clothing whether it is U.S.-made or imported."Is the statement that the Senator made a true statement or a false statement? True FalseCan a Japanese firm assembling e-Rickshaws in India after importing parts from subsidiaries in other Asian countries use transfer pricing to enhance its profits? How can governments determine that foreign firms are not using it to manipulate compliance?
- Define the following: a. Policy lags b. Recognition lag c. Implementation lag d. Response lagAs oil prices climb, western rage flares against the Arab oil producers. Why do we argue that this rage is for the most part misdirected? Explain how the major oil MNCs, far from being innocent free riders enjoying multi-billion dollar profits, are actually critical in managing the system for their own economic benefit (and incidentally OPEC’s).When explaining the economics of the pandemic, economists often make reference, among others, to the following three terms: external effects, network externalities, demand shock. Explain each of these concepts within the context of COVID-19