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What is the empirical relevance of the H-O theory and the new trade theories? What is the relationship between transportation costs and nontraded goods and services? How do transportation costs affect the H-O theorem? How do they affect the factor-price equalization theorem?
Read the "Production and Cost Analysis in the Fast-Food Industry," Case for Analysis located below. Identify how the Law of Diminishing Marginal Returns set in for the production process, and how management responded to this situation.
Discuss at least two alternative measures of national welfare that have been put forward? What are the primary strengths and weaknesses of these alternatives and discuss at least two alternative measures of national welfare that have been put f..
Which of the subsequent goods with their respective income elasticity coefficients in parentheses will most likely suffer a decline in demand during a recession.
Last year, Jarod left a job that pays $50,000 to run his own bike-repair shop. Jarod’s shop charges $65 for a repair, and last year the shop performed 3,000 repairs. Jarod’s production costs for the year included rent, wages, and equipment. What is J..
Assuming that budget stays same except for interest on debt for 10 years, what will be accumulated debt? What will size of budget be after 10 years.
Illustrate the marginal revenue curve that corresponds to positive marginal revenue. Line segments will automatically connect the points.
Imagine that the mayor has hired you as a consultant to evaluate the increase in aggregate demand in the city where you live. Describe to the mayor one (1) aggregate demand and supply factor that would have the greatest impact on the economy of your ..
q.suppose that the supply curve of healthcare ser-vices is perfectly inelastic i.e. vertical. analyze the impact of an
The difference between the amount of capital at the beginning of a year and the amount of capital at the end of the year is equal to
Inflation and Quantity theory of Money. Adapted from Jones Q3 Ch 8: What is the key endogenous variable in the quantity theory? (Read chapter 8 if this isn't clear) Explain the effect on this key variable of the following changes (holding everything ..
1. Create a decision table that describes the discount rules. 2. Simplify the table you just created. Describe the results.
If the tax multiplier is -1.5 and a $200 billion tax increase is implemented, what is the change in GDP, holding everything else constant? (Assume the price level stays constant.) Suppose real GDP is currently $12.5 trillion and potential real GDP is..
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