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Homework on Ricardian Model. Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The United States has 30 workers and the United Kingdom has 20 workers. Draw the PPF for the United States. Suppose the international relative price of a ton of steel is 2.5. Draw the world price line. Show that the United States is better off under trade compared to Autarky with the aid of indifference curves. Show the amount the United States will export and import. What would be the real wage of the workers in the two countries?
Real wealth which capitalists pull out of market must somewhere enter market. What is this hidden mechanism.
One of the basic facts of financial markets is that financial intermediaries, particularly banks, are the most important source of external funds used to finance business. Explain the reasons with few sentences from what we learned in Chapter 8 from ..
As we get started with this discussion, I want us to define leverage- what is leverage? In addition, s financial leverage an area that should be carefully balanced and monitored? Is it possible to have too little or too much leverage?
Here is a chance for each of you to apply what we are learning to your real life. If you are a business owner, a manger in a business, a department head and there are lots of you in the class, you have a budget and you make decisions that effect fixe..
An economist gives the following advice to a museum director: “You should introduce “peak pricing”. At times when the museum has few visitors, you should admit visitors for free. And at times when the museum has many visitors, you should charge a hig..
Present the basic structure of the Fed including:
Compare and contrast the difference between nominal and real GDP. Explain the challenges that an economy will be facing if GDP is constantly changing for the various stakeholders that are involved.
Suppose that annual income from a rental property is expected to start at $1,350 per year and decrease at a uniform amount of $55 each year after the first year for the 12-year expected life of the property. The investment cost is $8,200, and i is 9%..
The vertical intercept for the demand curve is at 500 and the vertical intercept for the supply curve is at 100. Initially, there is no tax on the market, and the airplane sells a quantity of 40 units at a price of $420. But at some point, because bo..
A parent has a pile of toys to divide between two children. Assume that there is an even number of each toy. What method of dividing the toys ensures that the final division is efficient? Divide the pile arbitrarily, and then let the children trade t..
Can an economy be faced with endless trade cycles also still have its Real GDP grow over time?
Consider a committee of Ann, Bob, and Carol that is choosing between three alternatives, {x, y, z}. Player i’s preferences are represented by the ordering i . Suppose the three player’s preferences are: x A y A z. y B z B x. z C x C y. Is M complete ..
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