Several Problems - deficits, budgets, etc.

I am asking for help in answering these economics questions. I will be able to compare your answers with mine. (See attached files for full problem description)

Global economics

Need some info and help Trying to figure out how to go about these. 1. In a committee meeting of the United Nations you are considering the following questions: A.When is international trade an opportunity for workers? When is it a threat to workers? B.What are some of the major challenges confronting the internation ...continues

Data Collection problems in estimating the demand for a product

When a firm estimates the demand for its productl what data collection problems would you anticipate having?

Increase minimum wage

The AFL-CIO has been a proponent of increasing the minimum wage. Please help me to understand why.

General Motors layoffs

A Michigan court ruled in the 1990's that General Motors did not have the right to close a particular Michigan plant and lay people off. Did this ruling benefit the people of Michigan and why?

Limited ability to export

In 1981, the US negotiated an agreement with the Japanese. The agreement called for Japanese auto firms to limit exports to the US. The Japanese government was charged with helping make sure the agreement was met by the Japanese firms. Were the Japanese firms necessarily hurt by this limited ability to export and why?

Policy against price gouging

In 1991, Rochester, New York, had a serious ice storm. Electric power was out in houses for days. The demand for power generators increased dramatically. Yet the local merchants did not increase their prices, even though they could have sold the units for substantially higher prices. Why did they adopt this type of policy?

Free markets & Price system

Help me to understand the following statement: "Using free markets and the price system always results in a more efficient resource allocation than central planning. Just look at what happened in Eastern Europe."

Demand and cost

Q P ATC #of Shoe per shoe per Shoe 100,000 $100 $20 200,000 80 15 300, ...continues

2 small questions

(See attached file for full problem description)