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Question: Below is the production possibilities frontier for India. It shows that India is able to produce either 30 batches of apples or 50 batches of pumpkins using all of its available resources. Also suppose that, India decides to produce at point A : 20 batches of pumpkins and 18 batches of apples. If India engages in international trade and trades 15 batches of pumpkins for 15 batches of apples with another country, it will be able to consume outside of its production possibilities frontier. How many batches of apples will the country have at the end of the exchange?
Many argue that the Affordable Care Act didn't go far enough and think a single payer system would have benefited citizens more. This would take employers out of the equation and eliminate the employer mandate. Discuss the pros and cons of removing e..
In considering the international realm, let’s consider the concept of economic treaties. Specifically, let's think about an organization like the European Union (EU). Why was it formed? In addition, what are some of the objectives of the nations that..
Compute the (point) price elasticity of demand when price is $700. Is demand elastic or inelastic. Find the point at which point elasticity is equal to -1.
List reasons why California can be sustainably governed for the near-future effectively. List reasons why this is unlikely to be the case and why. That is, why California is impossible to govern and will become an increasingly unstable and unsustaina..
The decline in the construction of new homes that began in 2006 led to the: (a) decline in net exports and the growing trade deficit.
Find a video from Dr. Pfeffer on power or influence that you find useful. Do you think he practices what he preaches? In other words, does he exhibit expert
What economic concept illustrates the fact that at an all-you-can-eat restaurant, one rarely literally eats all the food he/she is physically capable of consuming? Explain.
The main package delivery companies are FedEx, UPS, DHL. Package delivery requires physical and human capital specific to the industry.
The university bookstores received 4 million euros from students in exchange for the books. Illustrate what is the total contribution to GDP from the above events.
Find the probability that none of the households are tuned to Degenerate Housewives.
Suppose that market price of gas increases from $2 to $3 per gallon and quantity demanded for this good falls from 24 to 18 gallons per week. Calculate price elasticity of demand and interpret the result.
Suppose my tastes could be modeled with the utility function u(x1, x2) = 20x1^0.5 + x2, where x1 refers to mozartkugeln and x2 refers to other consumption. consider the bundles A,B, and C as defined in part A: (bundle A: 100 mozartkugeln and $500 in ..
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