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There is evidence that the UK China import tariff escalation has affected factor prices in both countries.
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False
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- Factor Price Equalization means that A. the demand for the factor that is abundant in a country will be higher so that the price of this factor equals across countries B. for countries to trade freely, factors of production need to be taxed accordingly so that their prices are equal across countries C. the supply of the factor that is abundant in a country will be higher so that the price of this factor equals across countries D. free trade makes the cost of identical factors in different countries to be more similar than they were in autarky This question has more than one ( 1 ) answersCase: As part of the most recent collective bargaining agreement with employees, an employer must offer medical insurance at "reasonable, non-profit rates." The employer plans to self-insure in place of using a private insurance company. Statistical evidence suggests that the average household currently spends $450 per year for medical bills and $80 for health screening and routine check-ups. Administrative costs are expected to average $30 per family. The collective bargaining agreement dictates that the plan's coverages and rates be fixed for a period of two years. The auditor considers the choice of the plan to be extremely important. Consequently, the auditor has asked you to evaluate the three proposals listed below. Proposal A would charge a $350 premium with no deductible. Coverage is extended to pre-existing conditions, but to cover the non-deductible clause, health screening and routine check-ups are not covered. Proposal B charges a $250 premium with a $200…Country A currently imports solar panels at $30,000 each. The government is using only 10% of the program as domestic content, exporting clean energy to neighboring countries. Country B imports also solar panels at $25,000 each, but uses 70% of the program as domestic content. If both countries produced solar panels home, the costs would have reached $25,000 for country A and $20,000 for country B, but there would have been an initial shakedown period during which solar panels would cost $35,000 for country A to produce and $40,000 for country B to produce. Suppose each country must go through a shakedown period of high costs on its own, before accessing any financial support from abroad. Under what circumstances would the existence of the initial high costs justify infant industry protection?
- A company has 350 employees who work 120 hours a month each. Each worker earns $21 per hour. There is a profitable project the company would like to start, but it would require an additional 21,000 working hours within three months to be completed, and all the employees are fully loaded with other projects. The company does not want to hire new staff; they would like the project to be completed by the current workforce instead.Given that the wage elasticity of labor supply is 0.8, calculate the hourly wage the company should offer its employees to encourage them to work on the new project. Use the midpoint method and round to two decimal places throughout your calculations.If the tax elasticity of labor supply is 0.24, by what percentage will the quantity of labor supplied increase in response to a. a $500 per person income tax rebate?multiple choice A 4.8 percent increase A 1.2 percent increase No increase A 2.4 percent increase b. a 9 percent reduction in marginal tax rates? %Economic Pick a country from Latin America, Asia, or Africa region that has used Import Substitution Industrialization (ISI) strategy temporarily in the past 60 years. Present a brief overview of the ISI strategy and include the arguments provided to justify the ISI strategy for this country. Take care of plagiarism
- Q: Both wages and noncash benefits are subject to income tax. True FalseA company has 700 employees who work 140 hours a month each. Each worker earns $37 per hour. There is a profitable project the company would like to start, but it would require an additional 42,000 working hours within three months to be completed, and all the employees are fully loaded with other projects. The company does not want to hire new staff; they would like the project to be completed by the current workforce instead. Given that the wage elasticity of labor supply is 0.65, calculate the hourly wage the company should offer its employees to encourage them to work on the new project.The price for some intra-Asia container shipping services, such as the container shipping fee for China-to-Singapore freight, raised up to five-year high in mid-November 2020. Some Singapore consumers believed that annual major promotion of leading ecommerce sites in China and Singapore, especially the double-11 shopping festival, caused the rapid increase of China-to-Singapore container shipping cost. However, others speculated that there might be some supply-side changes causing the spike in sea shipping rate.Search and collect information regarding changes in the Asian container shipping market from at least two news articles. Apply the supply-and-demand theory to analyse the change of short-run market equilibrium. Based on your findings evaluate the gain or loss of consumer surplus, producer surplus and total surplus. You must use appropriate market diagrams to illustrate and interpret your findings.
- Downgrading refers to a situation where: a. downward statistical biases in the effects of immigration on relative wages exist. b. downward statistical biases in the effects of immigration on native employment exist. c. adjustments must be made to relative wage parameters due to differences in the total compensation paid to immigrants relative to native workers. d. the wage or occupation of immigrants in the labor market is systematically lower than those of natives with the same observed education and experience levels.The increase in prices resulting from the levy of import duty usually reduces the consumption capacity of thepeople. True FalseMarket Imperfections. MNEs strive to take advantage of market imperfections in national markets for products, factors of production, and financial assets. Large international firms are better able to exploit such imperfections. What are their main competitive advantages?