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Per capita GDP in many developing countries depends on the fertility of land there. However, many richer economies have little land or land of poor quality. How can a country with little land or unproductive land become rich?
Suppose that in a year an American worker can produce 100 shirts or 20 computers, while a Chinese worker can produce 100 shirts or 10 computers.a. If the two countries were open to trade, which country would export shirts? Give a specific numerical e..
A country has a comparative advantage in producing a good if it can produce that good: At a higher opportunity cost than another country can.
a. suppose your local congress representative suggests that the federal government should not intervene in the
firm sells its product in a perfectly competitive market where other firms charge a price of 80 per unit. the firms
For the country you have been following this semester, analyze the impact of financial development in its economy. Obtain quarterly (preferably, if not annual) information with at least 35 data points for the following variables:
Find the optimal consumption bundle if m1 = 100, m2 = 88, and r = :2. Is the consumer a borrower or a lender? How much do they borrow or lend per period?
The demand for resources is a derived demand.” What is meant by that statement? Why is the employment of a resource inversely related to its price?
Discuss the opposing arguments as to whether consumer sovereignty should prevail in medical care.
is stability in the general level of prices through time important? why or why not? should price stability be the goal
a university spent 1.8 million to install solar panels atop a parking garage. these panels will have a capacity of
How much quantity does each individual firm produce? Using your answers from a) and b), determine if an individual firm is making a profit or loss and calculate this amount.
During the recession in the early 1990s, retailers observed that consumers were spending a lot more time searching for good bargains than ever before, which led the retailers to lower prices.
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