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Assume that there are only two inputs (labor and natural resources) producing two goods (movies and gasoline) with no improvement in society's technology over time. Further, assume that natural resources are being rapidly depleted. What would happen to the Production Possibility Frontier over time? How would invention and technological improvement modify your answer? Graph the PPF for each scenario to illustrate.
How can a country maintain equilibrium GDP with foreign trade?
tax be cut as the main policy target
why is international trade important for South Africa?
Balance of Payments All countries have economic transactions with other countries. These consist of import and export of goods and services, official and private gifts and don
Some charge that the Crisis of 2008 was caused by the "greed" of Wall Street firms and other bankers. Do you agree with this view? Do you think there was more greed on Wall Street
Who is considered unemployed?
How will each of the following bases for hospital reimbursement affect the number of admissions, the average length of stay, the volume of services per day, and the unit cost of se
A firm's current profits are $1,300,000. These profits are expected to grow indefinitely at a constant annual rate of 3 percent. If the firm's opportunity cost of funds is 6 percen
The aim of this paper is to observe and interpret the correlations between oil price changes, and changes to key macroeconomic indicators. From this we will be able to observe if t
Consider a model of Cournot competition as studied in class, with 2 firms and a linear inverse demand function P(Q) = a - Q (where Q = q 1 + q 2 is the total quantity produced by
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