User Account

All Pages

1 random numbers generationlater we are going to do

Assignment Help International Economics
Reference no: EM13375383

1 Random Numbers Generation

Later we are going to do simulations, and we need to be able to generate sequences of random numbers. Research how to do it on Excel/LibreOce and explain why these programs do not o er good tools for this job. Also, if you have a smartphone, nd an app that generates random numbers and tell me whether it is better or worse than Excel. Why? Hint: Google \pseudo random number".

Optional: Figure out how to generate random numbers on R and write a small code that generates 10 random numbers and prints them to the screen.

2 Current Events

Take a look at the World Economic Outlook 2012 (it is on blackboard) and write a summary about its description of the european situation. What do you think that is going to happen to the Euro zone?

3 Ricardian Model I

Suppose that there are only two countries and that they only make apples and bananas. The marginal productivities are such that 886_Random Numbers Generation.png .

a) Explain the di erence between absolute and comparative advantage.

b)Which country has a comparative advantage in apples? Which country has a comparative advantage in bananas?

c) In the free trade equilibrium, is it possible for the domestic country to ONLY make bananas and for the foreign country to ONLY make apples? Explain.

d) In the free trade equilibrium, is it possible for the domestic country to ONLY make apples and for the foreign country to ONLY make bananas? Explain.


e) Is it possible for both countries to produce the same good, i.e, both make apples, or both produce bananas? Why?

f) Now suppose that  1511_Random Numbers Generation1.png  Redo parts a-e.

4 Ricardian Model II

Suppose that there are only two countries, domestic and foreign, and that they only make apples and bananas. The production functions are:

A = LA (1)
B = 5LB (2)
A = 2LA (3)
B = 14LB (4)

Labor supply is equal to 100 in each country, and there are no tari s.

a) Derive the relative supply of apples in the world.

b) Suppose that the relative demand for apples in the world is:

2127_Random Numbers Generation2.png

Compute the equilibrium. What is the equilibrium (relative) price of apples?

How many apples and bananas does each country make? Do they trade with each other?

c) Suppose that the demand for apples becomes:

1329_Random Numbers Generation3.png

Redo part b). Compare your results. What happened to the price and quantities? What is the intuition?

d) Suppose that the demand becomes:

2075_Random Numbers Generation4.png

Redo part b). Do the countries trade with each other? Explain your answer.

Reference no: EM13375383

Questions Cloud

Just need two or three paragraphs concisely discussingthe : just need two or three paragraphs concisely discussing...the profit maximizing level of output is the ultimate goal of
Gold standard amp quantitative easingthe us dollar is : gold standard amp quantitative easingthe u.s. dollar is classified as fiat money and is not fixed to the value of any
In professional sports the decisions about tv contracts : in professional sports the decisions about tv contracts salary cap free agency entry in to a new market are made by
1 cold case inc produces beverage containers used by fast : 1. cold case inc. produces beverage containers used by fast food franchises. this is a perfectly competitive market.
1 random numbers generationlater we are going to do : 1 random numbers generationlater we are going to do simulations and we need to be able to generate sequences of random
In order to answer the questions you will have to analyse : in order to answer the questions you will have to analyse the datasetattached via usinggretl or other statistic
Topics in applied macroeconomicsquestionwrite an essay of : topics in applied macroeconomicsquestionwrite an essay of about 3000 words using the approaches developed in the module
Assume that demand for a commodity is represented by the : assume that demand for a commodity is represented by the equation p 10 - 0.2 q d and supply by the equation p 2 0.2
Bank prime loan rate imports of goods amp per capita : bank prime loan rate imports of goods amp per capita income.briefly explain why the three variables are appropriate

Reviews

Write a Review

International Economics Questions & Answers

  What creative programs and initiatives to stimulate the us

Feel free to include your very own original stimulus plan and/or ideas in your response, which can also be used to enhance existing platforms from candidates and/or other influential thought leaders.

  Large trade deficit with china

The US maintains a large trade deficit with China. The debt is largely due to China's artificially undervalued currency. Should the actions of the Chinese government be considered through trade-governing officials?

  Differentiate horizontal, vertical, and conglomerate mergers

Discuss the differences among horizontal, vertical, and conglomerate mergers and what are real-world examples of each type of merger.

  Is it desirable to have continuous current account surpluses

In contrast to the U.S., Japan has realized continuous current account surpluses. What could be the main causes for these surpluses? Is it desirable to have continuous current account surpluses?

  Determine which would be the most effective at addressing

Review the impact of the minimum wage on the natural rate of unemployment and make at least one recommendation for change (big or small) that would mitigate the impact while still helping the working poor.

  Cartel analysis

Petroleum products are in limited supply, what do you recommend the United States government should do to prepare for a shortage of gasoline? Describe your answer.

  Conduct of monetary policy

Describe how does choice of an exchange rate regime alter conduct of monetary policy. In addition, please also explain when it tend to increase the power of the monetary authorities and when to decrease their power.

  How private investmnt change in response to govt expenditure

Since the US gov't was running a budget deficit at the time, assume that the war was financed by gov't borrowing. How does the equilibrium interest rate and private investment change in response to gov't expenditure on the war

  Define policies to reduce or eliminate the deficit

The United States in currently running a large current account deficit. If Congress and the White House decide to enact policies to reduce or eliminate the deficit, what actions should they take? Describe the set of policy options available to the..

  Around what values do the data tend to cluster

Refer to the Real Estate data, which reports information on homes sold in the Goodyear, Arizona, and area during the last year. Prepare a report on the selling prices of the homes.  a.) Around what values do the data tend to cluster

  What causes the value of the u.s. dollar to rise or fall

What are freely floating exchange rates all about, and how do they work How can the falling U.S. dollar impact your travel expenses Why would a cheap dollar relative to other nations' currencies be good or bad for U.S. trade

  Suggest a better arrangement and explain how it would work

Most nurses in the United States receive their education in community colleges. Mainly because of differences in class size, the cost of educating a nurse is about four times that of an average community college student.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd