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Given the above trade between the two countries, explain the trade effects on product prices, and factor incomes. Why do these effects occur?
What is Frictional unemployment Individuals who are temporarily unemployed when transiting between jobs or just entering labour market. This kind is typically short in durat
According to Bowen, Leamer, and Sveikauskas, which of the following is true? a. A nation indirectly exports its most abundant factors of production. b. A nation indirectly im
Different approaches to measure aggregate output
The Widget Manufacturing Company must replace a widget machine, and is evaluating the capabilities of two systems. A requirement of management is that the machine chosen must be p
Suppose the demand for guitars in State College is given by Qd = 9000 - 12P where Qd is the quantity demanded, and P is the price of guitars. Also, suppose the supply of guitars is
with the help of a graph, explain factors that may cause a shift in the balance of payments
Why might external economies of scale be of interest to developing countries?
1a. Show on the market for milk the effect of the introduction of BGH (bovine growth hormone). 1b. Show on the market for cheese the impact of what happened in the milk market.
If you take nations total income and subtract out private consumption government consumption what you will find?
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