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Question: A country's output vector is X = [7, 15, 6], the world's output is XW = [1000, 900, 1000], theprice vector is p = [4, 4, 3] and the commonly used input-output matrix is:A =??211111121??where the first row describes labour coefficients, the second row describes land coefficient, andthe third row describes capital coefficients. All countries have identical homothetic preferencesand balanced trade.
(a) Find the factor endowments vector for this country.
(b) Describe the country's pattern of commodity trade.
(c) Show that the trade balance is zero.
(d) Describe the country's pattern of trade in factor content.
(e) Find the equilibrium factor prices
Consider an economy where desired consumption can be described by the equations:
Elucidate how it is possible that we have "sustainable development" (as it is defined in text book) in a world in which minerals, oil and or non-renewable resources are being depleted.
Given your answer, what is the level of output that maximizes profits. Lastly, calculate the level of profits at the profit-maximizing level of labor and output given that capital is fixed at 81 units.
Under what trade theory this can be categorized and what are the benefits that are accrued to this nature of trade?
Why has economic inequality in the United States increaseddramaticallysince the late 1970s?
Suppose a competitive rm produces spaghetti dinners. The market price of a spaghetti dinner is $20. The cost of making the dinners is given by C (Q ) = 10Q + (Q 2/160). The marginal cost is given by MC = 10 + (Q/80).
What is the Maximum Willing to Buy (Quantity at Price = 0)?
Who's economy are we helping when we send job overseas?" There are so many aspects to this question, not the least of which is that many of the jobs we've sent overseas are low-skilled jobs that American don't want to do or are better done (for vario..
q1. explain how immigration between two countries could be an equalizer of wages and economical for both sending and
suppose the social welfare benefit received by a typical family in country c was 5000 in these 3 years. Compute the real values of the social welfare benefit received by a typical family in these 3 years using constant (2006) price.
Predict what will happen to the economy in the short run if household debt rises and at the same time the government increases subsidies to firms. Predict what will happen to the economy in the short run if there is an increase in taxes and at the sa..
Make a spreadsheet using Microsoft Excel (or any other spreadsheet software) that matches the one above by entering the output, price, and cost data given.
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