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Country A has a population of 1,000, of who 800 work 8 hours a day to make 128,000 final goods. Country B has a population of 2,000, of who 1,800 work 6 hours a day to make 270,000 final goods.
a. Calculate each country's productivity and real GDP per person.
b. Which country is better off?
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Successful online students plan their activities and their time so they can accomplish their professional and academic goals and still have time for family and leisure. Time management is often a big issue with many online learners.
Suppose that an individual allocates his or her entire budget between two goods, food and clothing. Can both goods be inferior? Explain.
show that for an inferior good the demand curve for marshall is steeper than the hicksian demand and show the
The private marginal benefit for commodity X is given by 10 - X where X is the number of units consumed. The private marginal cost of producing X is constant at $5. For each unit of X produced, an external cost of $2 is imposed on members of socie..
In each case, do you think the household is better of f or worse off, or is the answer ambiguous? If ambiguous, what does the answer depend on?
During the 70's and 80's the goverment of many countries in Europe and North America banned the advertisement of cigarettes on televisions. Suprisingly, this attracted little protest from the cigarette manufacturer's.
Dakota Publishers prints coffee table photo books of the Great Plains and mountain states. The marketing manager generally prices books at $35 each and sales average 4,000 copies per month. Last month, she had a sale and priced volumes at $22.50 each..
suppose the market for a certain pharmaceutical drug consists of domestic united states consumers and foreign
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A simple random sample of size n = 210 is drawn from a population. The sample mean is found to be overbear above x = 20.1, and the sample standard deviation is found to be s= 3.2. Construct a 90 percent confidence interval for the population mean.
riority mail has been one of the most profitable products for the U.S Postal service, between 1995 -1999 and accounting for almost 8% of the Postal Service's mail revenue. Because the Postal Service lost $480 million in the fiscal year ending Sept..
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