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Suppose land is the specific factor for? rice, while capital is the specific factor for appliances. If New Zealand exports appliances and imports? rice, the specific factors setting implies that trade causes
A. the income of New Zealand capital owners to rise.
B. the purchasing power of New Zealand capital and land owners will both rise due to the reduction in the cost of consuming rice.
C. the income of New Zealand land owners to rise.
D. the income of New Zealand capital owners to fall.
What is the average inflation rate. Explain how would inflation be different if real income growth were higher.
Demand for a new drug that controls ulcers is given by equation Q = 150 - 3P (Q is bottles of medicine and P is the price per bottle in dollars). Using inverse demand (because P is graphed on the vertical axis), what is the slope of the demand curve?
The manager is concerned that, despite the fact that the firm's competitors are comparatively small, collectively their annual revenue growth has exceeded 50 percent over each of the last five years.
?Quotas and tariffs can:
Find equilibrium Y in the basic Keynesian model (round Y to the nearest whole number) What are the values of BS and NX at the equilibrium level of Y? Find the value of savings at equilibrium Y.
The inverse demand function of a group of consumers for a given type of widgets is given by the following expression: π = −10q + 2000[$] where q is the demand and π is the unit price for this product. Determine the maximum consumption of these consum..
Why do marginal costs first fall and then begin to rise? Why are marginal costs important to a firm when making decisions to increase or decrease production?
A firm that sells e-books - books in digital form downloadable from the Internet - sells all e-books relating to do-it-yourself topics (home plumbing, gardening, and so on) at the same price. At present, the company can earn a maximum annual profit o..
Compute the equilibrium price of guitars and the equilibrium quantity of guitars in State College.
Imagine you are a public administrator who has just been promoted to a higher position but must relocate to another city and purchase a different home. Using the five distributing bargaining skills, present the steps and various aspects you would con..
What is the average fixed cost of producing 4 units of output and What is the marginal cost of producing the third unit of output.
Suppose you have three producers of oil A, B, and C, with extractions costs of $8, $10, and $12 per barrel of oil. Assume there are no user costs. Assume that each well can produce 100 barrels of oil per day. What will be the total marginal cost in t..
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