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Absolute advantage is determined by (a) actual differences in labor productivity between countries (b) relative differences in labor productivity between countries (c) Both A and B. (d) Neither A or B
A firm's expansion path represents labor and capital inputs that minimize the cost of production associated with each output level. If a firm uses only two factors of production, one of whose marginal product becomes negative when its use exceeds a c..
q.assume a consumer has 600 to spend on two goods good x as well as good y. the cost of good x is given by px 20. the
A study was done of all homicide convictions in the State of Florida between 1976 and 1980 in order to examine if the application of the death sentence was racially biased. “Race of the suspect” is a lurking variable in this situation. “Race of the v..
What is a stream of historical data known as?
In your own words, and using research sources other than the textbook, distinguish between economic profit and accounting profit. Please cite references
What is this firms total cost function, average cost function, average variable cost function and marginal cost function.
If economy is operating at full employment and exchange rate increases explain why Federal Reserve will be less inclined to raise interest rate.
In signalling games, it seems that the Cho Kreps refinement (intuitive criterion) is the go to refinement for eliminating bad sequential equilibrium. Divine equilibrium and perfect sequential equilibrium are also interesting refinements though. Are t..
What nominal rate per month is equivalent to an effective rate of 3.8% per quarter, compounded continously?
Illustrate what role did the policies of various governments play in influencing the international expansion strategies of both.
If inflation expectations rise, how do the short-run Phillips curve and unemployment change?
Suppose banks keep no excess reserve and no individuals or firms hold on to cash. If someone suddenly discovers $12 million in buried treasure and deposits it in a bank, elucidate what will happen to the money supply if the required reserve is 10 ..
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