Assume that you are in charge of an agrarian colony of an European nation. What are the different extractive policies which can be adopted to maximize the wealth of the home nation?
What will be an ideal response?
a) One of the first steps that can be undertaken to extract from the colony is to capture the home market. This can be done easily. Exporting cheaper manufactured goods to the colony will hel
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A cruiser bike is being auctioned in a first-price sealed-bid auction. You always wanted to own a cruiser bike, and therefore decide to participate in the auction. You value the bike at $4,000
On the day of the auction, you see that there are 70 other bidders. Your optimal bid in this case is ________. A) $3,500 B) $3,000 C) $4,000 D) $3,944
Suppose that a chair in Germany sells for 100 euros. The exchange rate changes from $1 = 1 euro to $1 = 4 euros. How does this change affect the equivalent U.S. dollar price of the chair?
a. The price decreases from $100 to $25. b. The price increases from $100 to $400. c. The price decreases from $400 to $100. d. The price increases from $25 to $400