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Suppose Nigeria has 20 million workers and 16 million units of capital, while Botswana has 5 million workers and 3.5 million units of capital. Which of the following statements is true with respect to the Heckscher-Ohlin theory?
a. Nigeria is labor abundant and Botswana is capital abundant.
b. Nigeria is both labor and capital abundant.
c. Nigeria is capital abundant and Botswana is labor abundant.
d. Botswana is both labor and capital abundant
what wil hapen to the real wage if the nominal wages and prices rise at the same rate per year?
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The production function is Q=3LK
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Different approaches to measure aggregate output
Consider the multiplier model we have studied in class. Assume that the economy is initially in equilibrium and that real income is $180. The marginal propensity to expend is 0.66.
what would be effect of fiscal and monetry policy on price and output level if meges are flexible and rigied?
What are cost and revenue relationships?
use a numerical example to illustrate how credit multiplier works
Marginal Propensity to save (MPS) is the ratio of change in total saving to change in total disposable income. Symbolically, MPS = ?S/?Y For example, total
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