ECON 333 (Penn State University)

  • ECON 333 Homework 1 (Penn State University)

    ECON 333 Homework 1 (Penn State University) 1. Watch this video “I, Smartphone” 2. What is meant by the index of openness? How is it calculated? Note: use the formula provided in topic 1 in your answer (same formula is in chapter 1 of the...

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  • ECON 333 Homework 2 (Penn State University)

    ECON 333 Homework 2 (Penn State University) 1. Assume the price of bananas is $3 (per pound) and the price of apples is $5 (per pound). What is the relative price of bananas? What does this measure? ($750) 2. Suppose there are 30,000 hours of labor...

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  • ECON 333 Homework 3 (Penn State University)

    ECON 333 Homework 3 (Penn State University) 1. Assume country A is in Autarky. Using the diagram below, calculate the consumer surplus, producer surplus and total surplus. Show workings! ($500 for each part or $1,500) 2. Now assume that country A...

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  • ECON 333 Homework 4 (Penn State University)

    ECON 333 Homework 4 (Penn State University) 1. Watch this clip which looks at the U.S placing tariffs on Chinese Tires (2009-2012).  2. Assume Australia is operating under free trade. 3. Suppose that the domestic demand and supply for t-shirts in...

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  • ECON 333 Homework 5 (Penn State University)

    ECON 333 Homework 5 (Penn State University) 1. What are the benefits and costs of U.S. antidumping laws? ($2,000) 2. These questions come from an article “White House to File Case against China at WTO Over Subsidies for Exports” which...

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