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Suppose that in the United States a car can be produced with 200 labor hours, while a ton of rice requires 20 labor hours. In Japan, it takes 150 labor hours to make a car and 50 labor hours to grow a ton of rice. What is the opportunity cost of producing rice in each country, stated in terms of cars? What is the opportunity cost of cars, stated in terms of rice? Which country has a comparative advantage in cars? Which in rice?
This 24 year 1 quarter period should offer sufficient insight into the short term and long term correlation between the variables. Figure - A graph showing the trend of
(Consumer Price Index)Given the following data, what was the value of the consumer price index in the base year? Calculate the annual rate of consumer price inflation in 2013 in ea
Introduce about the open-economy macroeconomics shortly. The Open Economy: a. One of the major concerns introduced through open-economy macroeconomics is the exchange rat
(1) Based on the article, describe as best you can: (i) the reference group for the cost benefit analysis, (ii) the purpose of the study (i.e., what is the "project" in this
What is Quantitative easing Quantitative easing (QE) is an unorthodox monetary policy which since 2009 has been intermittently pursued by Bank of England and US Federal Reserv
derive the isoprofit functin
Given the above trade between the two countries, explain the trade effects on product prices, and factor incomes. Why do these effects occur?
applicability of the lewis model in developing countries
discuss Haberler''s opportunity cost doctrine.
You win a lottery. You have the choice of two ways to be paid. If you pick Payout Scheme X, you get $2,750 today. If you pick Payout Scheme Y, you get three payments: $1,000 today,
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