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Benefits from Trade. In Country U, the opportunity cost of a computer is 10 pairs of shoes. In Country C, the opportunity cost of a computer is 100 pairs of shoes.
a. Suppose the two countries split the difference between the willingness to pay for computers and the willingness to accept computers. Compute the terms of trade, that is, the rate at which the two countries will exchange computers and shoes.
b. Suppose the two countries exchange one computer for the number of shoes dictated by the terms of trade you computed in part (a). Compute the net benefit from trade for each country.
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A widget production machine can be purchased and installed for $100,000. It is in the seven-year GDS property class, and is expected to be kept in service for eight years. It is believed that $7,500 can be obtained.
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Consider the following preliminary data from 2008: ($ in billions) GDP $14264.60 Factor Payments from Abroad $798.30 Factor Payments to Abroad $665.10 Consumption of Fixed Capital $1832.30 Indirest Business Taxes $1118.90 Corporate Profits and Relat..
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Suppose that there is a consumer who consumes 2 types of goods: Good A and Good B. The consumer has $84 and the price per unit of Good A is $4 and the price per unit of Good B is $7.
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