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Peter Pundit, an economics reporter, states that the European Union (EU) is increasing its productivity very rapidly in all industries. He claims that this productivity advance is so rapid that output from the EU in these industries will soon exceed that of the United States and, as a result, the United States will no longer benefit from trade with the EU.
a. Do you think Peter Pundit is correct or not? If not, what do you think is the source of his mistake?
b. If the EU and the United States continue to trade what do you think will characterize the goods that the EU exports to the United States and the goods that the United States exports to the EU?
Elucidate however, are not sure of their own internal auditors at this point also the dual system in place.
Suppose V=$0, what is Jim's labor supply function now. Draw his labor supply curve. Illustrate what happened to his wage and substitution effects.
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On the other hand, people in developing nations usually degrade also pollute their environments locally also Do not have the similar high level of technology to mitigate these effects.
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Write a formula which describes the marginal product of labor in the short run as a function of the amount of the labor used.
What point on the graph is most likely to result from the introduction of technological improvements in bicycle assembly, and successful publicity campaigns by the government on the virtues of bicycling to work.
Generally describing the business also include a plot of the Price also Quantity data that you obtained.
Explain the difference between Discretionary Fiscal Policy and Automatic Fiscal policy. Provide an example of each.
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