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Identify which goods both countries should specialise in producing and the relevant terms of trade, assuming constant cost production.
In the light of the law of comparative advantage, how would you expect production and trade in China to alter over the coming years and why?
How might this difference in the rate of unemployment be explained? What dilemma does the differ-ence create for government?
All unemployment is voluntary. Discuss the economic basis for this assertion. If people prefer leisure to working, should this be of any concern to government?
An economy has high nationwide unemployment. Discuss and critically appraise the government's policy options.
An economy has an average national unemployment level of 4 per cent but an unemployment rate of 12 percent. Comment on the efficiency of this policy initiative.
What do you understand by the term full employment? Is the attainment of full employment necessarily desirable?
Is zero unemployment achievable with stable prices? Is it desirable? What do you understand by the term the term NAIRU?
As a manager of a chain of movie theaters that are monopolies in their respective markets. What price should be charged on weekends as well as on weekdays?
How can a clinical practitioner distinguish between good research and bad research?
Describe two economic situations that will lead Firm A to choose the pricing behavior described above. Clearly state the assumptions and use graphs to assist yo
Suppose that Home produces agricultural goods using land and labor. Analyze how the inflow of capital affects the industry outputs in Home.
Assume that China does not import motion picture from other counties. Find the number of varieties and the price of motion picture in China.
If Sam pays cash for the house, the annual insurance is $3,000 and the taxes are $4,000. What is his opportunity cost per year to buy the house?
What should the student ask for on the next visit to the refectory to satisfy the nutrient requirements and minimize the number of calories?
Define the opportunity cost of getting your degree by analyzing what steps and economic factors a potential student must make when choosing to pursue education.
It has just been reported that the value of the economy's output grew by 4 per cent over the past year. What factors influence the size of national economies?
Why must realised or ex post savings equal realised or ex post investment in an eco-nomy with only firms, households and a financial sector.
If planned savings exceeded planned investment, explain the process by which the level of national income adjusts.
Why is it not necessarily the case that realised investment will equal realised savings but that realised injections must equal realised leakages in total?
Based on the most-recent figures, which of the following categories of industry classifications has the greatest profits:
Given the market structures as described in the video, identify at least two articles from the ProQuest database that highlight.
This could be a business meeting, church meeting, or even a family budget meeting. How were the costs analyzed? What was the outcome?
Further, this option would lower the demand for employees as now the cost for that employee has increased hereby increasing the supply and creating a surplus.
Distinguish between economic efficiency and allocative efficiency. Use the production possibilities curve to define economic growth.