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1 Suppose that at current factor prices cloth is producedusing 40 hours of labor for each acre of land, and food is producedusing only 8 hours of labor per acre of land.
a. Suppose that the economy's total resources are 320hours of labor and 20 acres of land. Use a diagram and some algebrato determine the allocation of resources. (It doesn'tnecessarily have to be to scale.)
b. Say there is a bumper crop in births for some astrologicalreason, and the labor force increases 10% from 320 hours to 352hours. Amend the diagram and use similar algebra to figure out whathappens again
c. What implications does this have for a country'sspecialization in trade if before the population boom bothcountries had exactly the same amount of resources? Assume substitutability of factors and decreasing marginal productivity of both factors, as well as homogeneous preferences acrosscountries, and identical technologies across countries. Illustratethis idea with a graph.
Describe how global competition impacts my organization. Should the Starbucks industry reduce production or shutdown their operations.
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).
One option to balancing the budget yearly or cyclically is to create a government budget that would be balanced if economy were at potential output.
Illustrtae what does this imply about the effectiveness of monetary and fiscal policy to reduce the unemployment rate.
Elucidate the most important economic indicator affecting your organization and explain why.
A. Hardware, when new and more efficient manufacturing technology becomes available. What does this change affect Demand or supply In which direction does the curve shift Draw a graph and explain what will happen to the price and quantity
Explain several dimensions of the shareholder-principal conflict with manager agents known as the principal-agent problem. To mitigate agency problems between senior executives and shareholders, should the compensation committee of the board devot..
Analyzing many indicators of the macroeconomic situations in an economy, which includes interest rate, income, CPI, inventory levels, wage, consumer confidence and unemployment.
Suppose the market for autoworkers is in equilibrium when the automakers purchase capital goods to produce more fuel efficient automobiles and these capital goods are a substitute for workers. What happens in market for autoworkers?
A firm uses two inputs, unskilled labor (L) and capital (K) to produce its product. The wage rate for one unit of labor is $5, while units of capital cost $20.
If the Bank of Canada continues to take expansionary monetary policy, how are the unemployment rate and inflation affected? (Use both Phillips curve and AS-AD graphs in your explanation.)
If you have a certain amount of money invested in stock market for a moment of time, then there is an expected return on that investment, and a risk, a variance in that return, both of which are proportional to the amount you have invested.
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