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Author Question: Suppose that elimination of tariffs on agricultural products means that 1,000 farm workers lose jobs ... (Read 78 times)

lilldybug07

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on: Jun 29, 2018
Suppose that elimination of tariffs on agricultural products means that 1,000 farm workers lose jobs that pay an average of 20,000 per year.
 
  At the same time, because of the importation of relatively cheaper foreign vegetables, 150 million consumers save 2 per year on their grocery bills. a. What is the total income lost by farm workers because of the free trade? b. What is the total dollar amount saved by all consumers combined? c. Which is greater, the lost income or the consumer savings? Do the benefits of free trade outweigh the costs in this simple example? d. Which group is most likely to become politically involved over the issue of removing the tariffs, the farm workers or the consumers? Why?

Question 2

Which of the following statements is true of optimization?
 
  A) Optimization analysis only relates to the financial budget of an economic agent.
  B) Individuals who optimize do not consider costs when choosing the most feasible alternative.
  C) Economic agents can optimize only when they are able to perfectly estimate all future costs and benefits.
  D) Economic agents who optimize attempt to choose the best feasible option, given the information that they have.
Foundations of Microeconomics ¦ Bade, Parkin ¦ 8th Edition
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strudel15

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Reply #1 on: Jun 29, 2018
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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lilldybug07

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

fatboyy09

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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