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Then, each country agreed to specialize in the production of the good in which it has a comparative advantage and trade 7 units of cheese for 2.5 uints of bread. As a result, England gained.
if the real interest rate is zero and you expect to retire at age 59. what is the maximum you should be willing to pay in tuition to attend this professional school?
For the consumer price index values shown, calculate the rate of inflation in each year from 1930 to 1933. What is unusual about this period, relative to recent experience?
The firm sells each computer for $640. How many hours should the firm employ Pam to maximize its benefit from her employment?
While the period of analysis is 5 years, the alternative only provides benefits for the last 4 years. Calculate the uniform annual cost.
Determine the equilibrium price and quantity. Show the equilibrium graphically. Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium price and quantity.
Assume that this change does not result in the loss of customers. Which method did the company employ to protect their core pricing?
Suggest substantive ways in which the low-calorie food company may use this information in order to make decisions in both the short-run and the long-run.
Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities.
Mitsubishi's smallest car is ¥950,000. Determine the rate at which Mitsubishi can rent capital and the marginal productivity of labor at its new targeted level of output.
In order to pay for those expenditures, Congress also approved a $100 billion increase in individual income taxes. Will these actions by Congress expand or contract the economy or are they just usel
Then to test the judge's fairness in selecting women, what null hypothesis should be? What alternative hypothesis should be?
What would be the various consequences of this tax on both consumption as well as production? In your response, provide examples and analysis to justify your conclusions.
Effectively, this would reduce auto manufacturer's costs of using capital and high-tech equipment in their production processes. What is the likely impact of this statue on the number of workers this
Those who trade stocks based on inside information usually earn very high rates of return. Does this fact violate the efficient markets hypothesis?
Propose two to three strategies for connecting performance indicators to the budget. Provide examples to support your response.
The last doctor hired treated 1,600 extra patients in a year, while the last nurse hired treated 1,000 extra patients in a year. If doctors make $40,000 a year, what do nurses make?
Discuss which single factor has the biggest influence on the economy. Explain your rationale. Discuss the likely economic impact if every market in the U.S. was unionized.
Plot the PPC, and then determine which nation has the comparative advantage in which activity. Show whether the two nations can gain from specialization and trade.
They could each decide to work a few extra hours on Saturday and earn more income. But they choose to play tennis or to relax around the house. Are their opportunity costs of playing tennis differen
This will cause the average price of wine to increase to $12 and generate approximately $20 million in government revenue.
If no price controls had been in place, the effect of the oil embargo on the equilibrium price and quantity of gasoline would have been?
Using the equation in the text, what will be the growth rate of per capita income? In such a situation, under what circumstances might per capita income growth be increased?
Would the combined measures be likely to have any effect on the person's consumption of cigarettes? Why or why not?
Discuss the implications for classical trade optimism (the argument that free trade is always "a good thing") and for trade policy and practice.