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One July, the United States sold aircraft worth $1 billion to China and bought aircraft worth only $19,000 from China. During the same month, however, the United States bought $83 million worth of men's trousers, slacks and jeans from China but sold only $8,000 worth of trousers, slacks, and jeans to China. Using what you have learned about how trade is determined by comparative advantage, answer the following questions.
A. Which country has the comparative advantage in aircraft production? In production of trousers, slacks, and jeans?
B. Can you determine which country has the absolute advantage in aircraft production? In production of trousers, slacks, and jeans?
Consider the market for music downloads. The market demand curve is given by P=10-(1/6)Q. Where Q is the number of downloads sold per hour and P is the price per download. Apple is the dominant firm in this market with constant marginal costs MC=6.
Consider the market for corn in the United States. Suppose that the mandated percentage of ethanol in gasoline is increased and at the same time a corn blight destroys a significant portion of the corn crop. Using a supply and demand diagram, show wh..
Determine the new equilibrium price and quantity and how much tax revenue does the government earn with $6 tax.
what is the wage, quantity hired, wage plus employer taxes and wage minus employee taxes if employees pay a $6 tax?
Illustrate what is the lowland of far southeastern India that borders the Indian Ocean also contains the city of madras.
What is the value of the total withdrawal (Savings + Taxes + Imports) when the economy is in equilibrium? Where I don't know the vaule for S (Savings).
Iggy only consumes two goods: coffee and cigarettes. Three cigarettes can be traded for one cup of coffee in a free market, or one cup coffee can be traded for three cigarettes. Iggy initially has 12 cigarettes and 5 cups of coffees. Find an equation..
What steps would you first take to perform an after tax analysis to determine a better investment for the following example: Toby is in a 35% bracket for income taxes (state and federal combined), and only 40% of a capital gain is likely to be taxabl..
Two identical fishermen, Jill and Kevin, fish from the same lake. Since they are only two small producers, they cannot effect the price paid for their fish (P = 100), but they do influence each other’s costs. Write down the profit function for each f..
In this discussion, you will compare and contrast monetary and fiscal policies. Consider two recent national crisis points: 9/11 and the banking failures of 2008. Was fiscal or monetary policy more immediately responsive to each crisis? Why? Was fisc..
Elucidate what impact on quantity demanded and supplied for cars will be if oil costs rise to $200 per barrel. Illustrate what about if extreme recessionary conditions prevail.
compute the cost of the company's retained earnings. if the floatation cost per share of new stock is $4, calculate the cost of issuing new common stock.
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