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In the heckscherohlin model, a decrease in the factors of production required to produce rice and beans would:
a. shift the production possibilities frontier for rice and beans outward
b. shift the production possibilities frontier for rice and beans upward
c. shift the production possibilities frontier for rice and beans rightward
d. shift the production possibilities frontier for rice and beans inward
Why does a production possibilities frontier with increasing opportunity costs have a bowed-out shape? The curve is bowed-out because some resources are better suited for the
What is the significance of the observations made by OECD in this case study regarding “The OECD economies are more strongly dependent on the production, distribution and use of kn
The demand for money schedule shows that the quality of money that people want to hold
Define the tools of Competitive market. Competitive market: The supply and demand model a. The demand curve b. The supply curve c. Factors which cause the demand cu
Cost Reduction Positive measures to effect a lowering of costs include: reducing national insurance contributions (an ad valorem tax on employing labor);
Inflation (RPI) - another imperative channel. Oil is a necessity for the UK, and is price inelastic therefore one can analyse the correlation between a price shock and inflation. I
Describe the Structural unemployment Individuals who are unemployed as their skills are no longer in demand where they live. This kind mainly results in longer spells and may r
Question 1: Discuss the alternative theories of the demand for money and their relevance in specifying a demand for money function for a small island developing economy like
What isn''t a component of the M1 money supply?
difference between gdp at market price and nnp at factor cost
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