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Soppose that in one year an american worker can produce 100 shirts or 20 computers, while a Chinese workers can produce 100 shirts or 10 computers. if these countries were open to trade, which country would export shirt?
What is economic profit? How might it differ from accounting profit? Explain why firms that are making zero economic profit are likely to continue in business.
what are regional trading blocs? what are the three largest regional trading blocs? what countries are members of each
Calculate output, marginal cost, averagecost, price and profit at the average cost-minimizing activity level and calculate these values at the profit-maximizing activity level.
What are the contributions of these transactions to GDP in the years 2013 and 2014?
what kind of industries does a localization strategy makes sense? why? when does a global standardization strategy make
france can gain specialization and trade as it recieves more than __________( 7lbs,1lb,4lbs,1/4lb,1/7lb)of fish per each bottle of wine it exports to austrailia.similarly australia can gain from trade as long as it recieves more then _______(4 blo..
I. Marginal revenue is the additional revenue from selling one more unit of output. II. A firm will always produce at an output at which marginal revenue is greater than marginal cost, except when it is minimizing its losses.
Real GDP equals 5000, nominal GDP equals 10,000 and the price level equals 2, then what is velocity if the money stock equals 2000?
Suppose you are the manager of a small pharmaceutical firm that received a patent on a new drug 3-years before. Despite strong sales and a low marginal cost of manufacturing the product
china has a total of 4.9 trillion gdp in 2009. if current trends continue china may be the worlds largest economy by
education is an example of a positive externality acquiring more education benefits the individual student and having
Outsourcing A. What is outsourcing Give examples of outsourcing in the manufacturing and services industries. Explain the examples. What is the difference between outsourcing and off shoring
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