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Consider an economy that having only of those who bake bread and those who make its ingredients.
Assume that this economy's production is as follows: 1 million loaves of bread (sold at Rs. 2.00 each); 1.2 million pounds of flour (sold at Rs. 1.00 per pound) and 100,000 pounds each of yeast, sugar & salt (all sold at Rs. 1.00 per pound). The flour yeast, sugar & salt are5 sold only to bakers, who use them exclusively for the purpose of making bread.
a) Calculate the total income of the economy.
b) How much value is added to the flour, yeast, sugar & salt when the bakers turn into bread?
Evaluate the mercantilist economists. Determine which economist you feel made the most significant contribution to economic theory. Provide at least two (2) reasons to support your
Once Y is determined, almost all of the other variables are determined since they are either exogenous or they depend on Y. From Y we can determine C by consumption function, I m
Question 1: Consider a two-period, two-person pure exchange economy. Utility functions and endowments are given as follows. u1(x0; x1) = (x0x1)2 and e1 = (18; 4) u2(x0; x1) = ln x0
I sent to you an email for the online homework the deadline through 10 hours all questions are about 10 please do it in full score
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what are the two precautions required while estimating national income by value added method?
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Kate uses a sewing machine to alter and repair clothes for one year in her own small business, Kate's Tailoring. She earns $20,000 during the year for various sewing projects. In t
Examine the pros and cons of commercial transactions in blood from the egoistic, the utilitarian, and the Kantian perspectives
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