National supply and national demand curves, Mechanical Engineering

National supply and national demand curves:

1. Explain why neighboring countries tend to trade extensively with each other.

2. Use Table 1.1 to find the five most open economies in 2009. How does the growth performance of these countries compare with the growth of the average country listed in the table? What does this say about trade? Please note which edition of the book you are using.

3. According to figure 1.2, intra-European Union trade accounts for a large portion of the EU trade. What factors can explain this?

4. Consider a two good (raincoats, umbrellas), two country (Eugene, Corvallis) economy. Suppose that the prevailing world relative price of umbrellas is lower than Eugene's relative price of umbrellas under autarky. Would Eugene be a net importer or exporter of umbrellas? Would Eugene import or export raincoats? Explain your answers.

5. Consider the country of Eugene, which can choose to produce microbrews, bicycles, or both. Eugene's production is one of constant opportunity costs. Given full employment of its labor and capital, Eugene is capable of producing 3,000 bicycles. The opportunity cost of producing a microbrew is .25 bicycles. Draw the production possibility frontier of Eugene. Show all calculations.

6. Suppose the United States produces either fur hats or vodka. The national supply and demand curve for the United States fur hats are:

P = 250 - FH (National Demand)

P = 125 + FH (National Supply)

a.) Graph the national supply and national demand curves.

b.) What is the autarky price of fur hats in the United States? How much quantity is produced/consumed?

c.) Suppose the world price of fur hats is $100. Will the U.S. export or import fur hats? What quantity will they import/export?

 

1870_National supply and national demand curves.png

Posted Date: 2/11/2013 7:25:36 AM | Location : United States





i am a diploma holder.....i am sure that i am a heardworker.
Posted by biman dey sarkar | Posted Date: 7/2/2013 12:53:34 PM


Related Discussions:- National supply and national demand curves, Assignment Help, Ask Question on National supply and national demand curves, Get Answer, Expert's Help, National supply and national demand curves Discussions

Write discussion on National supply and national demand curves
Your posts are moderated
Related Questions
Tungsten Inclusions Tungsten inclusion is a discontinuity found only in TIG welding. Particles of tungsten from the electrode can be embedded in a weld when improper welding proc

The Cu-Sb system contains 2 eutectics, 1 eutectoid, 1 peritectic and 1 peritectoid. Mark them all on the figure, write down the temperature and composition of each point, and ident

Dead Centre The position of the working piston and the moving parts which are mechanically connected to it, at the moment when the direction of the piston motion is reserved

This is to determine the best possible angle to reduce aerodynamic drag. Mesh is to use tetrahedron of 0.5m wide.  I need the mesh generation and solver control on ansys 11.0. I al


What are the Safety consideration in under batteries and gear ? Ans: Alternator:- 1. Suspension pin with cotter pin and anti- rotation plate 2. Alternator safety cha

How to solve wedge problems..can anyone just explain the method..

Insulator : This is the top portion of spark plug made of high purity aluminum oxide having excellent characteristics such as good heat conductivity, mechanical strength.

Difference between path function and point function

Ease of Operation : For higher power transmissions, the operation of disengaging the clutch must not be tiresome to the driver.