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If a nation were to experience an influx of foreign labor into the market for corn production, the production possibilities frontier for the nation would:
a. shift inward due to the reduction in relative wages.
b. shift outward due to an increase in one factor of production.
c. stay right where it is because labor has nothing to do with the Heckscher-Ohlin model.
d. shift, but insufficient information has been provided to determine the direction of the shift.
Calculating interest rates on a yearly basis If the maturity is different from one year, the interest rate is usually recalculated to a corresponding one year rate. For example
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Robert's New Way Vacuum Cleaner Company is a newly started small business that produces vacuum cleaners and belongs to a monopolistically competitive market. Its demand curve for t
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Consider an economy characterized by the following Cobb-Douglas production function: Y=4K 1/4 L 3/4 Where K and L represent physical capitaland labor, respectively. Assume t
A change in government purchases of goods and services results in a change in real GDP equal to $200 million. Assume the absence of taxes, international trade, and changes in the a
what is phillips curve
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You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.
it has been argued that economic development of developing countries has been held back by a persistent fall in the terms of trade of developing countries over the long run
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