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Two persons, Abigail and Noah, each allocate their time between market work and housework. Abigail earns $12 per hour in the labor market, and can produce $18 worth of goods and services per hour at home. Noah earns $10 per hour in the market and can produce $5 worth of goods and services per hour at home.
a. Draw their separate production possibilities frontiers, labeling intercepts and slope. Who has the comparative advantage at home production? At market work?
b. Now suppose that Abigail and Noah get married and combine forces. Draw their joint production possibilities frontier. Label who is working at home and in the market (specifying full or part time) for each segment of the line. Label the point of full specialization.
Are the dual goals of economic development and the reduction of population pressure on the envrionment compatible or conflicting objectives?
q. foreign-born population which countries have the most? the united nations department of economic and social affairs
Most individuals are aware of the fact that the average annual repair cost for an automobile depends on the age of the automobile. A researcher is interested in finding out whether the variance of the annual repair costs also increases with the age o..
Using the national income identity find the value of imports (IM). Illustrate what is the current account balance. Illustrate what is the savings rate.
You have budgeted a maximum of $250 per month for a car loan. (a) If your bank offers financing terms of 60 months at a yearly 12% interest, what is the most you can pay for a car? Do not put a $ or comma in your answer. Make sure you put interest in..
q1. the herbivores society is selling mini bbq vegetable burgers for 3.00 each. if each individual student has the
Yet medicines with brand names that the man recognizes from TV commercials sell for more than the unadvertised versions. Elucidate in economic terms, this perplexing situation to the father.
Assume that when an economy has a GDP of $500, Consumption is $550. The MPC is .75. Investment is 25. Begin the problem by setting up an Income/Consumption Schedule like the one on page 220 of your text. Set up only the first two columns (1) and (2)...
Include in your discussion your assessment of this organizational architecture structure and suggestions on how it might be improved.
The price of gasoline rising increasing the quantity demanded of the Toyota hybrid Prius, thus gasoline and the Toyota Prius are: (10 points) (Hint: What is the key fuel of the Toyota Prius) a.) Substitutes b.) Complements c.) Not related d.) Superio..
Compute the current yield, the coupon rate, and the yield to maturity if the bond is puchased for $940.
Assume firm A wants to merge with firm B for $7.5 billion. Before the potential merger, the market for the good produced by firm A and B consisted of five firms. The market was highly concentrated, with a Herfindahl-Hirschman index of 2,621. Firm B’s..
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