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Question: Nobel laureate Paul Samuelson said that comparative advantage is one of the few ideas in economics that is both "true and not obvious." Since it's not obvious, we should practice with it a bit. In each of the cases, who has the absolute advantage at each task, and who has the comparative advantage?
a. In 30 minutes, Kana can either make miso soup or she can clean the kitchen. In 15 minutes, Mitchell can make miso soup; it takes Mitchell an hour to clean the kitchen.
b. In one hour, Ethan can bake 20 cookies or lay the drywall for two rooms. In one hour, Sienna can bake 100 cookies or lay the drywall for three rooms.
c. Kara can build two glass sculptures per day or she can design two full-page newspaper advertisements per day. Sara can build one glass sculpture per day or design four fullpage newspaper ads per day.
d. Data can write 12 excellent poems per day or solve 100 difficult physics problems per day. Riker can write one excellent poem per day or solve 0.5 difficult physics problems per day.
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.)?
Why is it important for managers to understand the mechanics of supply and demand both in the short run and in the long run What are some examples of companies whose business was either helped or hurt by changes in supply or demand in the markets
The unemployment rate
Discuss the role of the financial sector in expanding and empowering statist elements, and the influence of the financial sector in determining Reconstruction policy.
Presume that you make a series of annual deposits into a bank account that pays 10 percent interest. The initial deposit at the end of the first year is $1,200. The deposit amounts increase by $500 in each of the next five years. How much would you h..
Create a cash flow statement for Contest Company, for the year ended December 31, 2015, on the spreadsheet provided.
1. the owner of a small car-rental service is trying to decide on the appropriate numbers of vehicles and mechanics to
Normal 0 false false false EN-US X-NONE X-NONE For Alt. X, compute the ben..
You have been asked to assist an organization's marketing department for the food industry to better understand Analyze how consumers make economic decisions.
ntroduction of the Verson Stamping Machine helped firms in the automobile industry: shift their AVC, ATC, and MC curves upward. achieve greater economies of scale. reach their minimum efficient scale at a lower level of production.
The availability of jobs at higher real wages motivates many people to migrate—legally or illegally—to the United States. Other things being equal, what impact would a large influx of immigrants have on real wages? What impact would it have on real w..
if boeings dollar aircraft price increase 20 percent and the yendollar exchange rate decline 15 percent what effective
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