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For country Gamma the opportunity cost for producing 1 computer is 10 tons of steel. For country Beta the opportunity cost for producing 1 computer is 6 tons of steel. Which country has the comparative advantage in the production of steel?
Discuss the importance of westward expansion since 1800.What were some of the key land acquisitions, and how was expansion carried out? What was federal policy towards Native Americans and Mexico, and how did it factor into expansion? Finally, what i..
Production possibilities analysis implies that an individual nation is limited to the combinations of output indicated by its production possibilities curve. Do you agree or disagree with this statement?
q1. assume that a leader country has real gdp per capita of 40000 whereas a follower country has a real gdp per capita
Explicate which among the policies is most effective and least effective for this nation.
Millie mows her own yard to save money. Her neighbour Paul, however, hires a lawn service to mow his yard. One day Millie is looking out the window and sees Paul's lawn service drive up. Surprisingly, they begin to mow her yard, not Paul's yard. Disc..
According to the political business cycle theory, if the Fed wanted to see a President re-elected, prior to the election it might
The Economist described the plight of the unskilled worker in the rich world. "In America the problem takes the form of poverty wages, in Europe of unemployment. The underlying cause appears to be the same. There are more unskilled workers than jobs ..
A bookkeeper makes a significant posting error, which she later discovers and corrects. In fear of losing her job, she does not report the mistake to her supervisor. How should the employee have handled this situation and what should the supervisor d..
Which one of the following is an example of passive policy? making?
Is there any range of production characterized by scale of economies. At Illustrate what production level are scale economies exhausted.
How did the economic, political, and social forces drive the Europeans to exploration and colonization?
Calculating savings using the goods market equilibrium. Assume a closed economy (NX = 0). Suppose net taxes are $100 billion. Government spending is $125 billion. Investment is $50 billion and consumption is $100 billion. Calculate public savings, pr..
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