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Q. South Korea can produce a maximum of 600 million toaster ovens or 900 million tons of rice per year. The U.S. can produce a maximum of 700 million toaster ovens or 1,000 million tons of rice per year. A. Graph a linear (straight line) PPF for rice and toaster ovens for both South Korea and the U.S.B. What is the opportunity cost of producing one ton of rice for the U.S.?C. What is the opportunity cost of producing one ton of rice for South Korea?D. What is the opportunity cost of producing one toaster oven for the U.S.?E. What is the opportunity cost for producing one toaster oven for South Korea?F. Which nation has a comparative advantage in toaster ovens?G. Which nation has a comparative advantage in rice?H. In about one paragraph, comment on how these two nations might specialize in order to experience gains from trade?
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Evaluate and compare the "vertical restraints" of the two industries / sectors for the purposes of assessing the consequences of these provisions for strategic decision making.
There were 13,249 weddings in Springs City last year. According to state records, notaries public performed 17% of the weddings. How many weddings were not performed by notaries public?
In which directions are they pushing or pulling the U.S. economy. Also, do you think the gap between real GDP and potential GDP will widen or narrow.
Suppose that people expect the Fed to hit its inflation target. A: Calculate the optimal money growth rate needed for the Fed to hit its inflation target in the long run.
If the price increases by 10 percent, by how much does the quantity of household (a) natural gas and (b) electricity change in the short run and in the long run?
What were there reason why IMB lost it advange over the computer world.
Suppose that the carnival and the circus have both come to town, and are both o?ering free admission. You have 6 free hours to kill. Draw the BUDGET LINE that shows your options for how you can spend the day.
A any given interest rate, business become very optimistic about the future profitability of investment spending. Assume the budget balance is zero.
Before output has had time to adjust, by how much is disposable income reduced. Compute the resulting change in consumption expenditure.
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