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Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers.
Who has the comparative advantage in the production of shirts? What about for computers?
Define the correlation between two random variables X and Y. What does the correlation coefficient measure?
If you deposit $2000 in a bank and if the annual interest rate is 2% in year 1 and 5% in year 2 and 8% in year 3, how much money will you have in your account at the end of year 3 if you don’t withdraw any money from this account? Explain your answer..
In terms of the law of contract can they sue Mr Patel for the cost of R17 000.00 that they are now required to pay to rectify the errors. Assume that the electrical compliance boards report is correct. Do you think Mr Patel has any defence to the cla..
the economy is operating beyond the full employment output level thus producing rapid rise in prices of goods and
In general terms, efficiency refers to:
Health insurance companies are oligopolies, and one of the criticisms of oligopolies is the adverse impacts these firms have on income distribution. Discuss in relation to the policies and practices of health insurance companies.
Solve for the new equilibrium quantity (Q**), the sellers price (Ps), and the consumer’s price (P**). Solve for consumer surplus, producer surplus, government revenue and total surplus with the tax.
Assume that 4-year Treasury Bonds currently have a nominal yield of 6.2%, and 4-year Corporate Bonds have a nominal yield of 8.5%. Further assume that Maturity Risk Premium (MRP) on all 4-year contracts currently is 1.3%, and Corporate Bonds currentl..
Graph Mary's marginal cost curve using the orange line and her marginal revenue curve using the blue line
The idea of the Law of Demand, as applied to electric cars, assumes which of the following to be constant? When economists say that the demand for a product has decreased, they mean that: Which of the following will not cause a change in the demand ..
Why does Caterpillar as well as your parents have different opinions about the value of the dollar.
Anyone who has ever eaten crabs from the Chesapeake Bay knows that the quality of crab cakes declines with the square of the distance from the Bay. Thus, one should never order crab cakes at Red Lobster, for example. Unfortunately, crabs have been ov..
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