Describe at least three forces in the world which could change to push the world in the direction of antiglobalization
Most of the factors that have contributed to the movement toward globalization could change in the opposite direction, leading to a trend toward antiglobalization. For example, political tensions between countries could rise, leading to less trade between those countries. Similarly, an increase in terrorism could motivate certain countries into closing borders and being less inclined to trade goods with those countries. In addition, governments of countries that opened up their economies to others could (for a variety of reasons) reverse their course in an attempt to isolate themselves from the rest of the world.
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When recessions are the result of slowing growth in potential output, the government's best policy is to:
A. decrease aggregate supply. B. promote saving and investment. C. reduce government spending. D. increase aggregate demand.
The quantity theory of money indicates that in any country the money supply is equated to the demand for money, which is inversely proportional to the money value of the gross domestic product.
Answer the following statement true (T) or false (F)
Production of a catheter in the U.S. requires either one skilled worker-day or two unskilled worker-days, while production of the same device in Guatemala, because of its relative lack of transportation and communications infrastructure, requires either three skilled worker-days or four unskilled worker-days. Production of a hammock in the U.S. requires one-fourth skilled worker-day or one-third unskilled worker-day, while production of a hammock in Guatemala requires one-third skilled worker-day or one unskilled worker day. If eighty unskilled worker-days are moved from producing hammocks to producing catheters in the U.S., while ninety skilled worker-days are moved from producing catheters to producing hammocks in Guatemala, combined production of the two goods in the two countries will
change by A. thirty additional catheters and five additional hammocks. B. ten additional catheters and thirty additional hammocks. C. ten additional catheters and sixty fewer hammocks. D. no net change in production of the two goods would occur.
A monopolist faces the (inverse) demand for its product: p = 50 - 2Q. The monopolist has a marginal cost of 10/unit and a fixed cost given by F
a. Assume that F is sufficiently small such that the monopolist produces a strictly positive level of output. What is the profit-maximizing price and quantity? b. Compute the maximum profit for the monopolist in terms of F. c. For what values of F will the monopolists profit be negative?