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Question: Assume that Brazil and the United States have different production functions q = f(k), where q is output per worker and k is capital per worker. Let q = Ak1/3. You are told that relative to the U.S. = 1, Brazil has an output per worker of 0.32 and capital per worker of 0.24. Can A be the same in Brazil as in the United States? If not, compute the level of A for Brazil. What is Brazil's MPK relative to the United States?
What is the Marginal Rate of Transformation impact? What is the labor-abundant country? What is the capital-abundant country? What would be the production possibility frontiers for Brazil and the United States?
Construct the world relative supply curve and determine the equilibrium relative price. How do the gains from trade compare with those in the case described in problem 4?
for each of the following situations use the is-lm-fx model to illustrate the effects of the shock and the policy
Two countries, Italy and America, initially are capable of producing only two goods: wine (w) and pasta (p). Italy can produce a maximum of 200w and 0p or 100p and 0w, or any linear combination of these numbers. America can produce a maximum
the nation of acirema is small unable to affect world prices. it imports peanuts at the price of 10 per bag. the demand
The other significant indicator in international trade is balance of payments. Summarize your understanding of microeconomic and macroeconomic theory in a discussion of balance of payments
Assume two nations that each manufacture two goods X and Y defined as follows. Assume that the home country experiences technological growth in X sector such that α rise to 12.
In 2003, the market price for a 3,000 square foot home in South Tampa, Florida was $350,000 and 358 new homes were built. In 2004, the market price for a 3,000 square foot home in South Tampa
Draw the production possibility frontier for the Home country with cloth on the horizontal axis and food on the vertical axis. Suppose the economy is engaged in free trade and the free trade relative price of cloth is given.
Describe the roles of the World Bank (WB), International Monetary Fund (IMF), and World Trade Organization (WTO) in the acceleration of globalization.
the table and graph shown below illustrate the demand and supply schedules for television sets in venezuela a small
Suppose you are the Economic Advisor to the President of the U.S. Your task is to make a framework for economic policy and issues. During one of your briefing sessions in the White House,
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