ECON 110 exam 2

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ECON 110 exam 2
  • ECON 110 exam 2

  • Exam (elaborations) • 3 pages • 2020
  • ECON 110 exam 2 What will world prices of commodities lead nations to do what? If the price of a commodity is higher outside of an economy than inside, domestic firms have and incentive to do what? Conversely? What determines the exchange rate for currencies? What does dollar depreciation do to the price of imported goods? If the purpose of a tax is to promote change in choice, where should the tax be placed? Define: Producer Surplus Does international trade always leave...
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University ECON 110 exam 2
  • University ECON 110 exam 2

  • Exam (elaborations) • 3 pages • 2020
  • ECON 110 exam 2 What will world prices of commodities lead nations to do what? If the price of a commodity is higher outside of an economy than inside, domestic firms have and incentive to do what? Conversely? What determines the exchange rate for currencies? What does dollar depreciation do to the price of imported goods? If the purpose of a tax is to promote change in choice, where should the tax be placed? Define: Producer Surplus Does international trade always leave...
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