Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Consider an economy in which two factors of production , (labor and capital), produce two goods, (capital intensive pharmaceuticals and labor-intensive clothing). Suppose that both factors of production are freely mobile across both industries andthat all of the other assumptions of the H-O model are satisfied. Suppose thatthere are currently steep tariffs on all imported goods, but there is a bill before Parliament to eliminate those tariffs and the government has invited citizen representatives of workers and capitalists to express their opinions on the matter. Suppose that all citizen representatives understand the consequences of eliminating thetariffs, and that each representative simply wants to maximize hisor her real income. The parliamentary takes testimony from four groups representing workers in the clothing industry, capitalistsin theclothing industry, workers in the pharmaceutical industry, and capitalists in the pharmaceutical industry.
(a)Which of these four groups do you expect to support elimination of the tariff and which do you expect to oppose elimination of the tariff if this economy is capital-abundant relative to the rest of the world? Why?
(b)How would your answerto the above questionchange if both capital and labor were assumed to be sector-specific? Why?
Izaak likes to eat pizza and to fish. The more fishing he does the happier he is, up to 8 hours a day. If he fishes longer than 8 hours he gets a sore back and is less happy than if he hadn’t fished at all. For y less than or equal to 8, his utility ..
How can the use of Material Requirement Planning Contribute to productivity?
During this internship/externship, you were required to interact with Career Services. Share your experiences, positive or negative, on what you have built through this interaction. To obtain full credit for this Assignment, you must answer the avail..
Consider the market for footballs. Suppose the demand for footballs is given by F= 50/P − 1. (1) Suppose further that the marginal private cost of producing footballs is $10 per football. Also assume that pollution from the leather tanning process is..
Suppose that the government imposed a $1 tax each time someone used an ATM. How would this tax affect output and the price level in the short and long run?
compute the marginal products associated with K, L, F. Illustrate what is American's MRTS between K and L.
Comment on various stakeholders reaction to this budget like Businesses, Consumers, Employees, Social welfare groups and Industry etc -
Newsprint is produced in a perfectly competitive market. Each identical firm has a total variable cost VC= 40q + .5q^2 with an associated marginal cost curve MC = 40 + Q. A firms fixed cost is equal to 50. Calculate the price below which the firm wil..
Suppose that a rent control law is causing excess demand in a market. If the law is removed, then we expect the market rent to [fall/rise] and the quantity of apartments rented to [fall/rise]
Suppose a study finds that college students who received financial aid have a greater tendency to graduate than do college students who do not receive financial aid. What is the identification problem that the authors must solve? If the authors concl..
In an economy with income taxes, if the marginal propensity to consume were 0.8, the tax rate on income were 0.2, and the marginal propensity to import were zero: (a) How large an increase in government spending (with no change in taxes) would be req..
If the economy is operating at a point less than full employment (as it is now), what would we want to see happen to GDP? For right now, let's just look at the C (consumption) component of our GDP equation. What would we want to see happen to consume..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd