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Assume two individuals, A and B, are considering marriage, and each face the same amount of hours a week to be split between market-labor and home-labor. Assume that A can make $20 of market goods per week and $10 household goods per week; assume B can make $10 of market goods per week and $20 of household goods per week. Graphically depict a situation where, upon marriage, B specializes in the production of one good and A splits their time between market and home labor. (Clearly identify the intercepts and kink in their collective production possibilities curve.)
Assume A is a man and B is a woman. We know that the participation rates for men have been decreasing, while at the same time they have increased for women over the 20th C. Assume that the household starts with each individual specializing in the production of different goods. Graphical depict how an increase in the market-labor wage of B could increase her supply of labor (to the market) and at the same time decreases the supply of labor (to the market) for men.
Assume that A and B, upon marriage, specialize in the production of different goods. Consider the possibility that there is effectively no difference between people's productivity when it comes to the production of household goods. Graph their collective PPF using the values in (a) except that maximum amount of household goods produced by each is 10 units.
Assume that, with the values in (a), A and B specialize in the production of different goods upon marriage. Draw two graphs. The first graph shows a bilateral increase in wage inequality (steeper PPF for A and shallower PPF for B), specialization in different goods, but the household has lower utility than if there was specialization in (a).
Assuming an economy with no government and no foreign trade. Measure GDP for the following output scenario: There are three firms: firm A is a minning company, firm B is a stee
Firstly, it is imperative that I investigate the stochastic properties of each series considered in the model prior to estimating the effects of oil price shocks on macroeconomic a
BENEFITS OF GDP
You can work on this assignment individually or in a group of up to 4 people. If you choose to work as a group, your group should hand in one assignment and you will all receive t
if your earning records over year has been:Yt=$40000 Yt-1=$38000 Yt-2=34000 Yt-3=$32000 YT-4=31000,What is the your permanet income?
Explain the elasticity concept as it applies to necessities and luxuries. Calculate the price elasticity of demand when P= 160 - Q= 480: and when P=240 - Q=320. Calculate and inter
Given the above trade between the two countries, explain the trade effects on product prices, and factor incomes. Why do these effects occur?
This paper empirically analyses the effect of oil price shocks on key macroeconomic indicators in the United Kingdom.The aim of the paper is to establish a relationship between oil
You are an assistant to a senator who chairs an ad hoc committee on reforming taxes on telecommunication services. Based on your research, AT&T has spent over $15 million on relate
Economics Please Help! Assume that two power plants, Firm 1 and Firm 2, release sulfur dioxide (SO2) in a small urban community that exceeds the emissions standard. To meet the sta
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