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Amount of Beef or Computers Produced by One Worker in a Day Canada Japan Beef 6 5Computers 2 4
1. What are the limits of the terms of trade? Specifically, when is Canada willing to trade with Japan, and when is Japan willing to trade with Canada?
2. Which country has the absolute advantage in beef production?3. Which country has the absolute advantage in computer production?4. Which country has the comparative advantage in beef production?5. Which country has the comparative advantage in computer production?
Gus cab driver rents a cab and pays for gas. In each of following circumstances, describe the short-run effects & long-run effects on the price and quantity of rides Gus offers.
The dating service's owner said that the difference in price compensated for inequities in pay scales between men and women. Which of the following statements below is an alternative explanation that an economist would look for.
Can the government make things worse by intervening in markets? Are there other options outside the markets and government that will fix macroeconomic failure? C- "Big government is always harmful to owners of private enterprises, w..
Suppose15 percent increase in the price of airlines causes a 10 percent decline in the quantity demanded then what is the elasticity of demand for airlines.
As an worker of the World Bank you have been asked to research requires of a country with a particular economic concern.
Elucidate what are some measures of total ouput on the horizontal axis of the AS/AD model. Which measure do you think represents the most accurate picture of the output of an economy.
The opening statement on the Web site of the Organization of Petroleum Exporting Countries says, "OPEC's eleven members are all developing countries whose economies are heavily reliant on oil export revenues. THey therefore seek stable oil prices ..
If graphed, would the curve for this equation slope upward or slope downward and are the variables C and Y inversely related or directly related?
Suppose a new law establishes a minimum teacher salary that is 20 percent higher than the prevailing salary. How would you expect this law to affect the average quality of teachers and the taxes paid by the typical household
you will be challenged to show one or more of the criteria which you believe should be improved at your place of employment.
What is the maximum amount of new loans that this bank can make and assume that the bank makes these loans. What will the new balance sheet look like?
A firm, which is the only supplier of a good located in a particular town, is accused of engaging in anticompetitive tactics in order to protect its monopoly position in that town. As part of its defense, the firm has argued that the geographic an..
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