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Problem
1. In what circumstances will a country have a comparative advantage in producing a particular good despite having an absolute disadvantage in producing that good?
2. Why might nations not wish to specialize even when they have a comparative advantage in the production of some goods com-pared with other countries?
Suppose this person is relatively happy with the initial amounts in his or her possession and will only consider trades that increase utility by at least amount k. How would you illustrate this on the indifference curve map?
At present international management at PM corporation consists of one person. Determine what specific management principles and practices should PM firm start to put in place
For the wage determination model discussed in the text, how would you find out if there are any outliers in the wage data? If you do find them.
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Suppose worker productivity increased at the rate of 1.9% per year. If the Labor force grew by 1.5% per year, what rate of increase in RGDP would be sustainable without increasing inflation pressure?
A bulldozer can be purchased for $380,000 and used for 6 years, when its salvage value is 15% of the first cost. Alternatively, it can be leased for $60,000.
Describe the relationship you have with your supervisor/manager/a course professor if you aren't working. What impact does this individual have.
Use EAWs to calculate the benefit/cost ratio at i = 6% for a new library. The first cost is $500K, and O&M costs are $100K per year.
Is it true or false: Multiple indemnity policies should be ignored as a source of funds when determining insurance needs because it offers no protection if the insured's death is due to natural causes.
With a series of benefit cuts across many firms throughout the economy, some economists argue that nominal wage rates, a major cost of inputs for firms, have been decreasing.
Write about what could be changed at airports operationally to be more sustainable
A produces more capital goods and fewer consumer goods than Economy B. Which economy will grow more rapidly? Draw two production possibilities curves, one for Economy A and one for Economy B. Demonstrate graphically how one economy can grow more r..
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