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Consider a two-country (home and foreign) two-good (wheat and cloth) world. Let MPLw and MPLc be 4 and 2, respectively. Let L=25. Suppose that the number of workers doubles in Home. What happens to the Home PPF and what happens to the no-trade relative price of wheat?
Discuss perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings. Additionally, how does the proliferation of global trade and competition contribute to markets moving
explain how much will real GDP change. Explain how the concept of comparative advantage was relevant to the trade negotiations.
1. what two policies could you use to reduce the total amount of emissions 2. why do you think each would work 3. what would the benefits of each action be (besides emissions reduction) 4. what would the cost of each action be
Briefly summarize the event for your classmates and then apply one of the macroeconomic concepts from the course. What are the implications of this event for our economy?
Illustrate can be said concerning eCommerce (such as Amazon and other online stores) and individual behavior vs traditional storefront retail and individual behavior.
Johnson Company calculated the NPV of an investment, and using a discount rate of 10%, the NPV was zero. Does this mean that the investment is unacceptable? What does it mean?
Suppose that the U.S. places tighter environmental regulations on crude oil extraction, an important component in the production of plastic. How might this environmental regulation on oil affect the market for recycled plastics?
Suppose the world price of cotton rises substantially. The demand for labor among cotton-producing firms in Texas will (decrease/ increase). The demand for labor among textile-producing firms in South Carolina, for which cotton is an input, will (..
A major car manufacturer wants to test a new engine to determine whether it meets new air pollution standards. The mean emission of all engine of this type must be less than 20 parts per million of carbon. Ten engines are manufactured for testing ..
During your next trip to the supermarket (or you may need to make a special trip) find two examples of different goods for which the market is oligopolistic. Make certain that you have chosen a ‘good' and not a brand name.
in the summer of 2010 congress passed a far-reaching nancial reform to prevent another nancial crisis like the one
How changes in income , technology , or other changes in the economic environment may lead to changes in the balance between public and private provision. Illustrate, for instance, by a discussion of the role of public parks.
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