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Illustrate a supply or demand curve shift for the following article...(make only one shift)
U.S. Data Sink Corn, Soybeans
The majority of grain and oilseed futures are traded on the Chicago Board of Trade (CBOT). Government estimates released on Monday, January 12, 2009 sent CBOT grain and oilseed futures plunging amidst concerns regarding the world-wide recession. Both corn and soybean markets fell - the March corn fell 30 cents to $3.8075 per bushel while January soybeans fell 83.50 cents to $9.54 per bushel. Analysts had expected corn and soybean production to drop because of a late harvest. The demand for both is down because of the global economic recession.
The greatest use for corn is feed for livestock including cattle, hogs and poultry. Corn is also processes into everyday food items like corn oil, cornstarch and corn sweeteners. Non-food uses include alcohol for ethanol, absorbing agents for disposable diapers and adhesives for paper products. Soybeans have a wide range of uses from food to feed to industrial products. Bio-diesel fuel is becoming an important new source of energy and soybean oil is the primary component. Any weather problem will reduce potential yield for corn and soybeans. The market needs a boost to compel farmers to plant more corn and soybean acres this year.
Now, assume the ECB also employs comparably aggressive policy. Copy your results from the left graph and show on the right graph how the ECB could affect the USD/EUR exchange rate.
Suppose in country Triniland employers are required to pay overtime at 50% above the normal wage rate for workers who work beyond 8 hours a day.
Using the following data calculate Disposable Income:
Discuss how absolute advantage and comparative advantage differ? Kyle can read 20 pages of the economics in an hour. He can also read 50 pages of history in an hour. He spends 5 hours pre day studying. Draw Kyle's production possibilities fron..
Assume that there're 10 million workers in Canada and South Korea and each worker in Canada and South Korea can manufacture four cars per year.
By how much will each firm reduce its SO2 output? Which firm will buy permits, which firm will sell them, and how many permits will be exchanged?
Explain how each of the following scenarios would cause the aggregate demand, short-run aggregate supply, and/or long-run aggregate supply.
What government officials increase the price of parking ticket from $40 to $50; they are surprised that their revenue actually falls. What happened?
Give the utility function U(x, y) = (x-4) 1/2 (y-2)- 1/2 , what is the minimum income needed to ensure positive utility?
Compute total revenue, marginal revenue, marginal cost, and average total cost of this natural monopoly. What is the profit maximizing output and price for this natural monopoly when the government does not regulate it?
In a closed economy without a government sector, consumption is determined as 80% of the income available to households. Investment is autonomous at a level of £450.
What happens to his consumption of Y? Calculate the coefficient of price elasticity and of cross price elasticity. Also draw the demand curves for X and Y, noting the equilibrium points for this consumer before and after the price change in X.
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