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Assume that Canada and Japan each have 1,000 production units available to them. With each unit, Canada is able to produce either 8 bicycles or 2 books, while Japan can produce 3 bicycles or 6 books. When no trade takes place, Canada allocates 700 units to bicycles and 300 to books, and Japan allocates 400 units to bicycles and 600 to books.
Create a table showing total production for the two countries with no trade.
Create a table that assumes total specialization. What is the effect on total production?
What are the two extreme (relative) prices that are possible for trade in this situation and whom does each extreme favor? (Note: You do not need to create a table showing the entire trade scenario. Simply identify the price ratios, their sources, and who benefits from them.)
Elucidate what is the effect of such tax on economic efficiency also the effect on economic equity. Do you think this was a popular tax.
what is the resulting outcome of the game? (b) Suppose now that dierent players obtain dierent shares (adding up to 1) when the majority vote is not passed. What happens in a SPNE then?
What can you infer about expected change in the exchange rate between the Canadian dollar and the U.S. dollar? A friend proposes a get-rich-quick scheme.
Using an aggregate demand and supply diagram, explain how each of the following scenarios affects the equilibrium price level and aggregate output. Consider first the short-run, then the long-run equilibrium for each scenario.
q.recently there has been great controversy about some state governments attempting to use eminent domain to tear down
As the Euro appreciates in value relative to the U.S. dollar, what happens to the price of U.S. goods in Europe. Elucidate what happens to the price of European goods in the U.S.
q. assume that a household in a two-period model has income of 30000 in period 1 and 25000 in period 2 and the interest
Illustrate what two policies could you use to reduce the total amount of emissions.
Explain how would you show this with a simple supply and demand diagram. If this firm was monopolistically competitive with a "u-shaped" cost structure, how would you show the results of this firm's attempt to increase its profits.
Circular flow diagram: Include the government sector in your explanation, a description of the roles that each participant plays in the economy, and how the different sectors interact in the markets.
question 1 at the national level public debate has centred on the performance of the main monetary measure - gdp. each
How to prepare a Time-Series Model that explains how that organization is detailing the trends, business cycles, seasonal variations and random fluctuations?
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