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Differences between absolute advantage and comparative advantage?
Ans) Absolute benefit and comparative benefit are two basic concepts to international trade. Under absolute benefit, one country can make more output per unit of productive input than another can. With comparative benefit, if one country has an absolute (dis)advantage in each type of output, the other may advantage from specializing in and exporting those products, if any exist.
The following network N has source S and sink T with arc capacities as shown. (a) Use the maximum flow algorithm to find a maximum flow from S to T and draw a diagram
Economists estimate the short run elasticity of demand for a Chipotle burrito is -2.25. i) What degree of elasticity does Chipotle burritos exhibit? ii) A 1% change in
Suppose the supply function for product X is given by Qsx = -50 + 0.5Px - 5Pz. A. How much of product X is produced when Px = $500 and Pz = $30? B. How much of product X is p
the difference between the AC and the AVC curve
Explain, using the best framework you can think of (based on our class discussion), the effect of a large federal deficit on interest rates.
The final and most important part of the methodology is the impulse response functions which will provide the most information with regards to the aim of the project. In order to a
The rise in the price of oil can be traced to a easy factor, but there are various other contributing factors. The easiest explanation is that the demand for oil is greater than
Question 1 Discuss the relationship between microeconomics and macroeconomics Question 2 What do you understand production method? What precaution should be taken while
define business cycle
Q. Relation between nominal and real interest rate? Relation between nominal interest rate, real interest rate and inflation If we signify the nominal interest rate by R
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