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Suppose in the United States, one worker can produce 10 tons of steel per day or 20 tons of chemicals per day. In the United Kingdom, one worker can produce 5 tons of steel per day or 15 tons of chemicals per day. The United States has 30 workers and the United Kingdom has 20 workers.
Draw the PPF for the United States.
Suppose the international relative price of a ton of steel is 2.5. Draw the world price line.
Show that the United States is better off under trade compared to Autarky with the aid of indifference curves.
Show the amount the United States will export and import.
What would be the real wage of the workers in the two countries?
Using the Internet, research the influenza vaccine, or "flu shot." Use the following to guide your research: What are the economic benefits of the flu shot? Describe one (1) reason why the private market for flu vaccinations would produce an ineffici..
Fassbender Widgets, Inc. has opened a new widget factory next to Lake Dunn. In the production of widgets, WWI dumps 5 thousand gallons of a pollutant, red dye #308, into the lake. The pollutant reduces the fish population and results in a loss to tho..
What portions of the financial statements are most impacted by HIM functions? need two example how the answer should be : the HIM function of Coding can positively or negatively impact cash flow because hospitals are reimbursed for inpatients based o..
Consider the two-period consumption model of borrowing and saving. Suppose Claire has an income of m1 today and m2 a year from now and can borrow and lend at the interest rate r. She chooses consumption levels c1 and c2 given her well-behaved prefere..
Explain economic fluctuations and how shifts in either aggregate demand or aggregate supply can cause booms and recessions using the model of aggregate demand and aggregate supply.
discuss the one presented in the Bruntland Commission Report
Consider we did technological change in the class where it does contribute to one side of the production use that to understand the problem.
Triggers are ethnocentric responses to differences and defensive reactions to ethnocentrism. Any number of things can serve as triggers, but they generally fall into the following categories: voice, appearance, attitude, and behavior. Please describe..
The national debt is now $8,700,000,000,000. If the population of the United States is 300,000,000 what is each citizen's share of this debt? The national debt is rising at the rate of 1.69 billion dollars per day. Explain how much is each citizen..
Coffee prices in 1960 were .40 cents and are $1.65 in 2009. Income in 1960 was $10,000 and is $40,000 in 2009. Does this mean that society is worse off or better off in 2009 than in 1960? Under what conditions are consumers better off? Besides the ch..
Your economics professor assigns a group project for the course. Describe the free-rider problem that can lead to a suboptimal outcome for your group. To combat this problem, the instructor asks you to evaluate the contribution of your peers in a con..
Mr. Smith has saved $1,800 each year for 20 years. A year after the saving period ended, Mr. Smith withdrew $7,500 each year for a period of 5 years. In the sixth and seventh years, he only withdrew $5,000 per year. In the eighth year, he decided to ..
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