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Robin and Terry are Stranded on a deserted island and consume two products, coconuts and fish. In a day, Robin can catch 2 fishes or gather 8 coconuts, and Terry can catch 1 fish or gather 1 coconut.
Use these numbers to prepare a table. Which person has a comparative advantage in fishing? Which person has a comparative advantage in gathering coconuts?
Currently, the extent of our economic difficulties has caused the economic policymakers to choose fiscal and monetary policies that are both expansionary.
Production Possibilities Tables for Germany and Canada (note that we are assuming that opportunity costs remain constant along the production possibilities frontier), and that each country produces only these two products).
Field discusses the key threats to sustainable management of forests and agricultural resources. First summarize these threats. Then,
Explain the influence that transferable property rights versus non-transferable property rights, has on individual decision making.
Global Widgets Corp is a manufacturing company that builds standardized galvanized metal benches for sports arenas and stadiums-Do you think one of these firms would be more likely to benefit from a de-centralized decision making organizational arc..
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.
What were some of causes of stagflation of 1973 and 1979? In what ways were these episodes of stagflation different from great depression of the 1930s?
Is this a good model for unemployment? What would you add to study the problem more completely? What assumption does this model make regarding unemployment
What is the cost of producing additional car when 50 cars are being produced? What is the cost of producing additional care when 150 cars are being produced?
Compute the income elasticity of demand for product below, by using average values for quantities and incomes.
Explain how the aggregate expenditure function shifts in response to changes in each of the following variables:
The advent of the one man bus involved more capital equipment: an automatically operated coin box and door control device - to name two of the capital goods that replaced the conductor."
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