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Q. Assume that a worker in Boat land can produce either 5 units of wheat or 25 units of fish every year also a worker in Farmland can produce either 25 units of wheat or 5 units of fish every year. There are 30 workers in each country. No trade occurs between the 2 countries. Boat land produces also consumes 75 units of wheat also 375 units of fish every year while Farmland produces also consumes 375 units of wheat also 75 units of fish every year. If trade were to occur, Boat land would trade 90 units of fish to Farmland in exchange for 80 units of wheat. If Boat land now completely specializes in fish production, elucidate how many units of fish could it now consume along with the 80 units of imported wheat?
the quantity demanded of Cake is 100 slices and the quantity demanded of cheese bread is 100 pieces.
Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.
If congress decides to reduce the tax paid per pack paid by sellers of cigarettes other things being equal the cost of cigarettes will fall.
Illustrate what is the 95% confidence interval estimate of the population mean examination score if a sample of 200 applications provided a sample mean of Xbar=935
Illustrate what is the maximum amount you will pay for the new process. Suppose that the new process must pay for itself by the end of the first year.
Elucidate why Pizza Hut has expanded its offerings of pizza over the past five decades
At the same time some internet trades such as grocery home deliveries have continually suffered steep losses regardless of scale.
A business cycle fact is that real wages are pro-cyclical. Using the classical labour market as we have all semester, show and explain how the classical economists explained this business cycle fact.
Compute demand of price elasticity of for natural gas sold to the US.
Expectations and consumer confidence are important in determining fluctuations in aggregate spending. In your opinion, what is the present status of consumer confidence.
Indicate two public policies that would be appropriate for addressing this situation. Explain their impact on your graph.
Illustrate what do the results tell you about the relative size of the income also substitution effects for leisure for Jake.
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