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Suppose that two people, Michelle and James each live alone in an isolated region. They each have the same resources available, and they grow potatoes and raise chickens. If Michelle devotes all her resources to growing potatoes, she can raise 200 pounds of potatoes per year. If she devotes all her resources to raising chickens, she can raise 50 chickens per year. (If she apportions some resources to each, then she can produce any linear combination of chickens and potatoes that lies between those extreme points. If James devotes all his resources to growing potatoes, he can raise 80 pounds of potatoes per year. If he devotes all his resources to raising chickens, he can raise 40 chickens per year
Illustrate what are institutional arrangements. Why are they considered important fundamental determinants of economic growth and development.
Suppose that two companies are duopolists that produce identical products. Demand for the products is given by following linear demand function:
Use the line drawing tool to draw a line showing the relationship between the number of deliveries (on the horizontal axis) and your total cost (on the vertical axis). Draw the lnie between zero and 20 delieries. Label this line 'Cost'.
What are some examples of goods that the U.S. has comparative advantage in producing Take a look at the tag of the shirt/dress/pants you are wearing today. Where was it made Anyone wearing "Made in America" items of clothing today
How will demand and supply curve shift. Labor market for math and science teachers when wages available in private industries utilizing these skills rise or else.
Germany consumers have $50 in income "their gross domestice product". They spend $35 on consumer goods "$25 on Germany goods and $10 on imports", they save $8, and pay $7 in taxes. The government collects $7 in taxes and spends $10 on locally-made..
Discuss and explain two conflicts of interest faced by an Investment Advisor who is employed by a commercial bank or an investment bank?
On this graph indicate how a decrease in the price of a substitute good will or will not shift the curves and cause a new equilibrium point. Label any new demand or supply curves you may have to draw as D2 and S2 label any new equilibrium point yo..
Assume Helen's income increased from $30,000 per year to $45,000 per year and Helen\'s crab meat consumption went from 25 pounds per year to 30 pounds per year.
Derive the equation for the IS curve, derive the equation for the LM curve, explain why each of the following statements is true. Discuss the impact of monetary and fiscal policy in each of these special cases.
Keep in mind that the oil price is not the same as the price level in macroeconomics diagrams, even though the changes in oil price indirectly affect the general price level (such as CPI and GDPD).drawing of macroeconomic model of AD-AS behavior
Assume you are the general manager of a concrete mixing and delivery facility located in Texas. Your company purchases the raw materials for concrete, mixes the concrete according to customer specifications,
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