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1. Create an example of an absolute advantage model by choosing two countries and a single product.
a. Draw a diagram describing autarky and a pattern of absolute advantage for your example.
b. Show the transition from autarky to trade in your diagram, label the trade flows, and demonstrate the gains from trade.
c. In a new diagram, and starting from a trading equilibrium, show what would happen to the world price if income increased by exactly the same, small amount in both countries.
ABC Technologies, Corporation, enjoys an exclusive patent on process to atomize gasoline in platinum in combustion engines, producing substantial gains in miles a gallon
use the data on u.s. real gdp below to compute real gdp per person for each year. then use these numbers to compute the
Describe three ways we can use macroeconomic analysis, with one original example for each way - effects of an adverse technological shock on the labor market and on the output market.
Estimating the demand for money and plotting a demand curve for that estimation based on the equation: M1=a+b1(interest)+b2(time). Where a is the intercept value for the demand curve
What was the rate of inflation for the month? How does that rate of inflation compare with the rate in the previous month?
You have done some research and believe that the master's degree will add $6,000 per year to your salary for the next 10 years of your working life, starting at the end of this year. From then on, after the next 10 years, it makes no difference.
Using your own words, define market imperfections. To support your definition, include at least two examples. Do not include the examples from the book create your own examples.
What is the monopolist's profit-maximizing rate of production?What is the monopolists's profit-maximizing price?
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write an essay evaluating the role of governments in assuring that developing countries obtain a fair and adequate
If you assume that wealth (W) and investment (I) remain constant what are the equilibrium levels of GDP (Y), consumption (C), and savings (S) ?
Illustrate Toms price elasticity of demand also what does his demand curve look like (either verbally explain the shape of the demand curve
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