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What is the difference between absolute advantage and comparative advantage? Will a country always be an exporter of a good in the production of which it has an absolute advantage? Briefly explain.
It is common knowledge that governments all over the world are involved in providing education for their citizens. To gauge the effectiveness of public education,
According to the theory of purchasing-power parity, if Japan has low inflation and Mexico has high inflation, what will happen to the exchange rate between the Japanese yen and the Mexican peso?
Determine the Price Elasticity from the Characteristics and make up numbers to use. Be sure to identify this if you use this approach.
What is the differences between sticky and flexible prices in the aggregated income or expenditure?
an economy has the following consumption functionc200 0.8 dithe government budget is balanced with government
The Widget Co. has the following inverse demand curve: p= 970.15-19.27x, where x is the number of units produced and sold. The cost function C(x)= 81.8+ .84x+ 15x^2. Decide the quantity x that maximizes profit.
the united states has had a significant trade imbalance for several years. what are the problems associated with
Presume 2 firms are found on the real line [0,1]. Firm 1 is located at a=.15, and Firm 2 is located at 1-b, where b=.15. Suppose P1=P2=$10. Consumers face a distance cost of $2 per square unit of distance.
hormone free dairy milk has been found to be potentially more beneficial and healthy. consider the market for this
The principle of comparative advantage does not provide answers to certain questions. One of those questions is a. Do specialization and trade benefit more than one party to a trade b. Is it absolute advantage or comparative advantage that really mat..
Demand-Supply Analysis and the American Revolution a. Before the American Revolution, the British government required that all imports to the colonies from outside the British Empire were first shipped to England (part of the Navigation Acts).
What is the present worth of the total 20 payments, occurring at the end of every four months (i.e. the first payment is in four months), which is $400, $500, $600, increasing by a fixed sum. Interest is 12% nominal per year, compounded monthly.
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