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Kate and Jim can each use their time to fish or gather coconuts. The table below gives the times it requires Jim to perform both tasks (read the entries carefully):
Jim
Kate
Time required to gather one coconut
Time required to catch one fish
1 hour per coconut
2 hours per fish
I want you to come up with two required times for Kate which would give Kate the absolute advantage in catching fish, but which would also give Jim the comparative advantage in catching fish. The purpose of including this question is to prove to you that a person can have an absolute advantage in producing some good without necessarily having a comparative advantage on producing that good.
The management of bank risk is a crucial function of management. What are the most important risk management principles that involve approving loans? Why do Adverse Selection and Moral Hazards make the underwriting process more complicated.
While waiting for their buses to leave, they decide to browse your school bookstore and buy some items that catch their eye. How would this affect the store’s inventories?
Refer to the above graph for a profit-maximizing monopolist. At equilibrium, the firm will be earning:
Small country Alpha exports lumber products obtained by cutting Alpha's forests. Cutting the forests creates negative external effects in Alpha.
Converse Elucidate how a society's social values influence the provision of also payment for health services.
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In order to restructure some of its debt, General Motors decided to pay off one of its short-term loans. If the company borrowed the money 1 year ago at an interest rate of 8% per year and the total cost of repaying the loan was $82 million, what was..
A series of quarterly payments of $750 for 20 years is economically equivalent to what present sum, if the quarterly payments are invested at an annual rate of 12% compounded quarterly?
Consider two closed economies that are identical except for their marginal propensity to consume (MPC). Each economy is in equilibrium with real GDP and aggregate expenditure equal to $100 billion. The first economy's MPC is 0.5. Therefore, its initi..
What was the consequences of the 2008 and 2009 economic downturn and its effects on stock prices and a decrease in investors' net worth.?
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