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1. What determines the pattern of international trade in the Ricardian model?
2. Using the Ricardian model, explain why American workers receive higher wages in the production of automobiles than Chinese workers.
3. Explain why countries gain from trade in the Ricardian model.
4. What are a country's terms of trade and what do improvements in the terms of trade mean?
5. Why is the production possibilities frontier a straight line in the Ricardian model?
George has been selling 5,000 T-Shirts per month for $8.50. When he increased the price to $9.00 he sold only 4,000 T-Shirts. What is the demand elasticity? If his marginal cost is $4 per shirt, what is his desired markup and what is his initial a..
Critique BP's handling of the Gulf oil spill from a communications perspective. What were their central messages? What were their major challenges?
this problem is intended to be more open-ended than previous assignments so you can get a feel for what its like to do
a the above figure shows four different markets with changes in either the supply curve or the demand curve. which
Assume that the data describe the condition of the banking system By how much could the banks increase their lending activity?
During the country's current economic malaise, along with that of our local economy, what can individuals and businesses do to help get by financially, get a job, or promote economic activity?
Describe the effects of each of the following managerial decisions or economic influences on the value of the firm: 1. The firm is required to install new equipment to reduce air pollution.2. Through heavy expenditures on advertising, the firm's mark..
government action is based on majority rule, whereas market action is based on mutual consent. The market allows for proportional representation of minorities, but minorities must yield to the views of the majority when activities are undertaken t..
Country A and country B both have the production function: Y=f(K,L)=K^(1/2)L^(1/2)
Describe the three forms of product advertisements. What are their objectives Please provide one example of each type of advertisement. Please links to specific ads to this quiz. Then describe what the ad is saying and how it is used to demonstrat..
How does the charging the monoply a specific tax per unit affect the monopoly optmum
Consider a firm that is a monopolist in the domestic market facing a demand curve given by p = 100 - q, but can also sell in the world market where there is perfect competition and the market price is 60. The firm is a price taker in the world mar..
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