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When the two countries did not specialize, the total production of corn was 36 million bushels per month, and the total production of jeans was 104 million pairs per month. Because of specialization, the total production of corn has increased bymillion bushels per month, and the total production of jeans has increased bymillion pairs per month.
Show how the consumer’s opportunity set changes if income increases by $300. How does the $300 increase in income alter the market rate of substitution between goods X and Y?
What distinguishes Buddhist economics from modern economics in its approach to material wealth? To natural resources? With which approach are you more sympathetic and why?
In our treatment of the Ricardian model We have focused on the case of trade involving only two nations. Assume that there are many nations capable of producing two goods
According to the statistics the distribution of money income:
Heavy rains caused the flooding of the Mississipi River and the Missouri River as well as some of their tributaries. This flood represented an important macroeconomic shock significantly damaging the aggregate capital stock and ..
Explain why Chrysler's decision might have been prompted by movements in its wage costs or capital costs, or both. Why would Chrysler have instituted this production change for its most popular
Determine how supply and demand can affect the prices of these homes. In a PowerPoint presentation, submit data findings that include economic factors within that area that may influence your decision, or factors that have prohibited an area to be..
Small firms can discover the abilities of their workers more quickly than large ones because they can observe the workers more closely at a variety of tasks. Does it then make sense for people with high abilities to go to small firms
The currency in Great Britain is pound and the price of a particular British car is 12,000. suppose the exchange rate is 0.67 per dollar.
The demand-supply market models (for each market below) to graphically illustrate and explain the following scenarios (in the short run). Identify for each scenario what the effects on price and quantity are likely to be. State your assumptions.
6. What is the capitalized equivalent amount worth, at 8% annual interest compounded semiannually, for a present initial cost investment of 50,000 a series of semiannual positive disbursement of 5,000 that extent to infinity and in 12 years th..
Currently, it is difficult to sue the federal goverment unless it agrees to be sued. If the law were changed so that lawsuits (such as by victims of the collapse of the I-35W bridge) were easier, how would this change the incentives.
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