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Assume an economy has 2 firms. Firm A produces wheat and firm B produces bread. In a given year, firm A produces 50,000 bushels of wheat, sells 20,000 bushels of wheat to firm B at $3 per bushel, export 25,000 bushels of wheat at $3 per bushel and stores the rest as inventory. Firm A pays $50,000 in wages to consumers. Firm B produces 50,000 loaves of bread and sells all of it to domestic consumer at $2 per loaf. Firms B pays consumers$20,000 in wages. The economy also imports and consumes 15,000 loaves of bread for a $1 per loaf.
(a) Calculate Net Exports.
(b) Find Investment.
(c) Calculate GDP.
The profit on a gold necklace is $15 and the profit on the goldbracelet is $25. A jeweler's showcase has room for at most 60necklaces and bracelets combined. The demand for the necklaces isat least 3 times the demand for bracelets.
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The total cost equation in the production of bacon at some hypothetical factory is
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Why might EMS provisions for the extension of central bank credits from strong- to weak-currency members have increased the stability of EMS exchange rates?
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