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In order to conjecture the circumstances in these two countries under autarky (when there is no trade), consider the following hypothetical scenario based on Ricardian model. Assume throughout that those two countries (Argentina and El Salvador) are the only two countries in the world, at least for purposes of trade. There are two goods: Hammers and Widgets. Consumers in both countries always spend half of their income on Hammers and half of their income on Widgets. The only factor of production is labour. Each Argentinian worker can produce 4 Hammers or 2 Widget per unit of time. Each El Salvadoran worker can produce 2 Hammers or 2 Widgets per unit of time. There are 50 workers in Argentina and 75 workers in El Salvador. You need to provide conditions in each country by stating
Put in the same figure the relative demand curve for Widgets that you found in part (a) and the world relative supply curve of Widgets that you found in part (b). Determine the equilibrium relative price of Widgets and the equilibrium relative quantity of Widgets under free trade.
Briefly explain why the three variables are appropriate explanatory variables to predict the consumption of services or why they are related to consumption.
The returns of Stock A and Stock B are independent of one another, i.e., the correlation coefficient between them is zero, Which of the following is correct?
An industry comprising a small number of firms, each of which considers the potential reactions of its rivals in making price-output decisions, is called
Compare the functionality of flowcharts and pseudocode. Describe the advantages and disadvantages of each. Which do you think is preferable?
Consider competitive markets, monopolies, and oligopolies. Illustrate what role does each of these play in an economy.
Consider other proposals to replace the federal income tax structure with a flat tax structure or a national sales tax. How would these alternative tax proposals affect income distribution?
What factors must exist for there to be an efficient market?
Explain how the aggregate demand curve would be affected by domestic prices increase, which raises the interest rates.
q.mcdonalds add a new tastes and products to menu boardsrecently mc donalds announced the launch of its new tastes menu
Why is some degree of Monopoly power permitted? Please provide rationale answer for the question.
Distinguish between the concept of actual unemployment and natural rate of unemployment (NAIRU: Non-accelerating inflation rate of unemployment) with examples.
What if governments decide to decrease the use of post mail in order to save trees, so what will happened to the people worked for post office. Demand of postman will decrease. Supply will not changed. A left-ward shift would decrease wage and employ..
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