Explain the distinction between the inferior goods and normal goods. Explain the concept of rent seeking, as discussed by Tullock. What does rent seeking imply of the costs of a tariff? Explain the difference between wealth and money. One paragraph will suffice for your answer. ...
a.) A tariff is a term used to denote the levy assessed by the government on imports from several other...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts ...
Why would removing a trade restriction, such as a tariff, lead to more rapid economic growth 答:在某些方面,贸易是一种技术。当一国取消关税后,该国可以更多地进口国外有比较优 势的产 品而 出口本 国具有 比较优势的产 品,该国就 以一种似乎投资于把本 国优势产品变为别 国优势产 品的技术而获 ...
Explain the principle of resource-efficient use. Explain the meaning of full employment. Explain the term "cost-benefit analysis" and give the situation when it is appropriate. 1. What is the purpose of setting the first derivative equal to zero in the...
People drinking or the extras that would be included on the tariff after a certain time of night. W: You mean they argue with you over money? M: Yes, that can happen. Or the way... the good thing is , people can argue about the way that you go on a certain route because they ...
After the implementation of NAFTA‚ Mexico became a free trade zone. This made it possible for Wal- Mart to reduce its tariff from 10% to 3 %. This led the government to solve the logistical problem due to the fact that Mexico`s transportation system was below average. NAFTA encour...
a. Explain David Ricardo's theory of comparative advantage. b. How does comparative advantage differ from absolute advantage? c. What is the relationship between comparative advantage and gains from trade? Explain how to apply the economic term "comparative advantage" to the consumer market. ...
Explain the concept of sunk costs. Decision-Making Analysis: The concept of sunk costs is highly relevant when studying analysis methods for Decision-Making in business. Decision-Making often involves the evaluation of various courses of action and applying quantitative and qualitative analyses in order...
Explain the economist's analysis of the pricing. Price: Price is a term that is used to describe the amount of money that an individual is willing to take for him or her to give up something. Most economists argue that many factors determine the price of goods and services. Therefore, bu...
And Trump — being Trump — brought up Biden, despite his team saying ahead of time that the former president didn’t plan to say the current president’s name. Trump acknowledged in his speech that he wasn’t supposed to say the name and was only going to use the term once, before...