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Suppose Belgium produces only two goods, chocolate and lace. If Belgium has a comparative advantage in lace, a move toward free trade will
a. harm chocolate workers in the short run, benefit lace workers, but benefit the nation as a whole.
b. benefit chocolate workers, harm lace workers in the short run, but benefit the nation as a whole.
c. benefit chocolate workers, harm lace workers in the short run, but harm the nation as a whole.
d. harm chocolate workers in the short run, harm lace workers, but benefit the nation as a whole.
Suppose that there is no fixed production input (i.e. long run.) With the production function above, the slope of the isoquant is given by MRTS = -(K/2L). Assume the firm chooses to hold costs C at $50.
One months ago, they added five workers and productivity also increased by 50,000 pages. Copiers cost about twice as much as workers. Would you recommend they hire another employee or buy another copier.
What curve would be shifted (demand or supply) and in what direction (left or right) if there was a decrease in the tax rate or interest income from 20% to 15%?
Describe three problems of decentralization that occurred under the Articles of Confederation. For each problem you list, identify one solution that the Constitution provides to address the problem.
What do you imagine about the interest on payday loans is too high or just right.
What is the lowest price John can offer for this contract?
Trace out exactly where this 100 increase in income goes in the second round and compare to our simpler treatment with a closed economy and lump sum taxes.
Converse the latest equilibrium price also quantity to result from these changes.
What are soft laws? What are the advantages and disadvantages of soft laws? Why are soft laws sometimes the outcome of negotiations on global environmental regimes?
q1. a luxury good is a good for which the income elasticity exceeds one. the demand for a luxury good is given by qd x
Load the Blue Spruce Light Up Data (latest file, through 2013). Extract and specify a model that predicts Cars through the gate as a function of Price and Average Daily Temperature.
q.as ceo of firm a you and your management team face the decision of whether to undertake a 200 million rampd effort to
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