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If rice production is land intensive and computer production is labor intensive, though both good require some land and labor, the two-good production possibilities frontier will change in which of the following ways given an increase in available labor? a. The curve will shift outward evenly. b. The curve will shift outward but biased toward rice. c. The curve will shift outward but biased toward computers. d. The curve will shift inward with a bias toward rice. Please give a brief explanation on your answer.
Describe the differences between the substitution effect of a wage increase and the income effect of a wage increase.
Q. Demand for money for AS-AD model? The money market The demand for money depends negatively on R,positively on Y and positively on P in AS-AD model
A negative outflow to the U.S. balance of payments is generated by the purchase of United States assets (such as United States Treasury bonds) by foreign investors and the sale of
Explain the impact of Wal-Mart's supply chain management on its total product, marginal product, and average product curves. What has been the effect on its retail prices?
what are some internal market forces and how is the outcome of output, jobs, prices, growth, and international balance
You have acquired a CT scanner at a cost of $750,000. You expect to perform 7,000 procedures per year over the estimated 5-year life of the scanner. Assuming no salvage value and a
Functions of a Commercial Bank 1. Credit Creation Creation of credit is a major function of a commercial bank. When a bank creates credit or advances loans, there tends
On the next page is a graph of a labor market in equilibrium, with market clearing values of wages and hours of employment being W 1 and E 1 respectively. a. The Federal gov
Determination of all endogenous variables We can explain how all the endogenous variables are determined in below figure: Figure: The Keynesian model with the Phillips c
discuss.
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