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Create an example of a comparative advantage model by 'choosing two countries and two products.
Show the transition from autarky to trade in your diagram label the trade flows, and demonstrate the gains from trade.
Output per unit of Labor:
X
Y
H
8
15
F
10
30
What are the two problems facing the Bank of Canada in trying to control the money supply precisely?
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates.
Which of the following strategies are used by businesses to capture consumer surplus? Nash equilibria are stable because
Evaluate the following: The laws of supply and demand cannot apply to the labor market because labor is not a commodity to be bought and sold like machines.
In each of the cases listed below determine what this consumer needs to do (in terms of purchasing X and Y) to maximizes their utility.
Explain why a monopolist will never set a price (and produce the corresponding output) at which the demand is price-inelastic.
American Mining Company is interested in obtaining quick estimates of the supply and demand curves for coal.
You are trying to decide whether to buy some laptop computers for your business in either Canada or in United States. Looking at identical machines on the Dell Canada and the Dell US web sites, you find that they sell for US $2000 (US dollars) in ..
The total sum of squares is 400 and the sum of squares errors is 100, what is the coefficient of determination?
What money supply must the Bank of Canada set next year if it wants to keep the price level stable? What money supply must the Bank of Canada set next year if it wants inflation of the ten percent?
Find out the average total cost and average variable cost as a function of the level of output. Assuming the firm has the same cost curves in the long-run for q>0 and C (0) =0, how much will it produce in the long-run?
Plot the wage- setting and price setting equation or a property labelled graph and identity the nature rate of unemployment.
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