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Suppose that there are two products: clothing and soda. Both Brazil and the United States produce each product. Brazil produces 100,000 units of clothing per year and 50,000 cans of soda. The United States produces 65,000 units of clothing per year and 250,000 cans of soda. Assume that costs remain constant.
What would be the production possibility frontiers for Brazil and the United States? Without trade, the United States produces 45,000 units of clothing and 150,000 cans of soda. Without trade, Brazil produces 75,000 units of clothing and 30,000 cans of soda. Denote these points on each other's production possibility frontier. What is the marginal transformation rate for each country? Should the two countries specialize and trade? If so, who has the comparative advantage in what product? Once they specialize, how much does output increase? What are the terms of trade if the United States trades 1 can of soda for 5 units of clothing? Are the consumers in each country better off? What is the labor-intensive good? What is the labor-abundant country? What is the capital-abundant country? Could trade help reduce poverty in Brazil and other developing countries? How do product and factor prices and wages eventually equalize between the two countries?
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 the quantity of good X demanded by individual 1 is given by X1 = 10 ?? 2PX + 0:01I1 + 0:4PY and the quantity of X demanded by individual 2 is X2 = 5 ?? PX + 0:02I2 + 0:2PY a) What is the market demand function for total X (= X1+X2) as a fun..
the congressional research service estimates that at least $45 million of counterfeit u.s. $100 notes produced by the north Korean government are in circulation. Explain why do U.S. taxpayers lose because of north Korea's counterfeiting.
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In national income accounting, an investment is regarded as. Conclude the probability that the annual net cash flows will be negative.
You are using a sample size of 15 for your charting purposes. Which of the following is the upper control limit D4 factor for the chart.
Explain how would you expect each of the following events to affect the amount they save each month.
Suppose that Frank is considering giving Mike eight paper back books in exchange for 2 CDs. Explain the conditions under which this trade would be mutually beneficial. Also explain the conditions under which Frank and Mike won't make the trade.
What is the marginal rate of technical substitution of labor for capital at any point along an isoquant?
Old Economy Traders opened an account to short sell 1,300 shares of Internet Dreams at $46 per share
What is the optimal bundle Carmela can achieve while spending $60? C) For Carmela, is clothing a normal or inferior good?
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