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1. What determines the pattern of international trade in the Ricardian model?
2. Using the Ricardian model, explain why American workers receive higher wages in the production of automobiles than Chinese workers.
3. Explain why countries gain from trade in the Ricardian model.
4. What are a country's terms of trade and what do improvements in the terms of trade mean?
5. Why is the production possibilities frontier a straight line in the Ricardian model?
figure describes the costs and benefits resulting from different sizes of a ski resort that is being planned in a
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A firm sells specialized electronic computers. Each of the computers has a unique chip produced at a California plant at cost of Cw(Qc)=Q^2 c
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About the topic of national debt, it just likes we lent money from our offspring. Most of us think the debt is bad.
Your firm currently uses 69 workers to produce 300 units of output per day. The daily wage (per worker) is $100, and the price of the firm's output is $30. The cost of other variable inputs is 100 per day. Fixed costs are $2100 per day. What is to..
Both countries have the same rate of depreciation (5%). Use the Solow model to calculate the ratio of their steady state levels of income per capita, assuming ? =1/3. a) Verbally, interpret your answer. b) How would your result change if ? =1/2?
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suppose investment, in addition to having an autonomous component, also has a component that varies directly withthe level of real GDP. How would this affect the size of the government purchase and net tax multipliers
What are governments fiscal policy options for moving the economy out of a recession Speculate on which of these fiscal options might be favored by a person who wants to preserve the size of government and a person who thinks the public sector is ..
what are the differences between real and nominal rates? explain why this is important to induce action on the part of
A price consumption curve and a demand curve an individual demand curve and a market demand curve
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