1. Consider a two-person, two-commodity, pure exchange economy with: Un = giga, Un =q12, 911 +921=91, and 912 +922 = 92 (ii) What conditions on the coefficients a and ß will ensure that the contract curve is a straight line?
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- What is the welfare criterion in an exchange modelShould the Imitation Gap Theory be discarded as a practical explanation of trade pattern? Please cite all sources.SAJAX inc. is a global firm. SAJAX has employed FDI to fund operations in a country that is a member of the regional economic integration bloc. Generally, in situations like this, non-member firms like SAJAX will enjoy the same advantages from the integration pact that members have. True false
- q 39. Suppose that the marginal benefit of writing a contract is $400 and the marginal cost of that contract is $400. Based on this information, the optimal contract length should be a. increased by half. b. decreased. c. increased by two-thirds. d. held constant at the contract length where MB 400 and MC 400.Identify and briefly describe three types of exchanges based on who operates the exchange.For a two-person two goods exchange economy, provide a formal definition of a barter equilibrium and formally demonstrate that such allocations are in the core of the economy.
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- What were the main objectives of the Bretton Wood System?Discuss the Berne Convention agreement on intellectual property.The economies of North Korea and India are: different in that North Korea has a command system, while India has a market system. similar in that they are both basically command systems. similar in that they are both basically market systems. different in that India has a command system, while North Korea has a market system.