1.0 The integrated market increases the total number of products more than the total sum of two countries' products before integration. 2.0 The integrated market enables firms to produce at a larger scale. 3. 4.O The integrated market only benefits smaller country. 5. O The integrated market only lowers the price of imports goods. The integrated market only benefits larger country. A multiple-choice question with one possible answer. If a nation wants to trade less after growth, then the nation's terms of trade can be expected to: 1.0 change any direction 2.0 deteriorate 3. O improve 4. O remain unchanged A multiple-choice question with one possible answer. Technical progress in the nation's export commodity: 1.0 leaves the nation's welfare unchanged 2.O will increase the nation's welfare

1.0 The integrated market increases the total number of products more than the total sum of two countries' products before integration. 2.0 The integrated market enables firms to produce at a larger scale. 3. 4.O The integrated market only benefits smaller country. 5. O The integrated market only lowers the price of imports goods. The integrated market only benefits larger country. A multiple-choice question with one possible answer. If a nation wants to trade less after growth, then the nation's terms of trade can be expected to: 1.0 change any direction 2.0 deteriorate 3. O improve 4. O remain unchanged A multiple-choice question with one possible answer. Technical progress in the nation's export commodity: 1.0 leaves the nation's welfare unchanged 2.O will increase the nation's welfare

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter8: Aggregate Demand And The Powerful Consumer

Section8.A: National Income Accounting

Problem 2TY

See similar textbooks

Similar questions

Please no written by hand Suppose that in a country one-third of all females born die in infancy, one-third of all females die in infancy, one-third die at age 30, and one-third live to age 60. Women bear one child at age 25, one child at 28, one child at age 32, and one child at age 35. One-half of children are girls. b.) Suppose the mortality is reduced so that there is no infant mortality. Half of all women die at age 30 and a half at age 60. Compute the NRR.
Suppose the economy initially produces 15,000 gallons of drinking water and 450,000 tons of steel, which is represented by point A. The opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving production to point B) is (72,000, 135,000, 90,000, 54,000, 108,000) tons of steelSuppose, instead, that the economy currently produces 378,000 tons of steel and 20,000 gallons of drinking water, which is represented by point B. Now the opportunity cost of producing an additional 5,000 gallons of drinking water (that is, moving to point C) is (72,000, 135,000, 90,000, 54,000, 108,000) ons of steel.Comparing your answers in the two previous paragraphs, you can see that the opportunity cost of 5,000 additional gallons of drinking water at point B is (Less, Equal, Or Greater Than) the opportunity cost of 5,000 additional gallons of drinking water at point A. This reflects the (Notion that Countries can gain from trade, Law of Increasing Opportunity Costs, Fact…
Consider an economy with a coconut producer, a restaurant, and a govern- ment. The coconut producer produces 10 million coconuts, which are sold for $2 each, generating a revenue of $20 million. The coconut producer pays wages of $5 million to its workers, $0.5 million interest on a loan to some consumers, and $ 1.5 million in taxes to the government. The restaurant buys 6 million coconuts, and the remaining 4 million coconuts are directly bought and consumed by consumers. The restaurant uses coconuts to produce meals that generate a revenue of $30 million. The restaurant pays its workers $4 million in wages, and the government $3 million in taxes. Consumers work for the coconuts producer, restaurant and the government, earning a total of $14.5 million in labour income ($9 million in wages from the private sector, and $5.5 million from the government). They also earn $24 million in after-tax profits (dividends) from the producers, in addition to the interest income of $0.5 million…
03. If the economy is at point D, a) more can be produced of both X and Y, without an increase in resources or improvement in technology. b) to produce more of product Y, some of product X has to be sacrificed. c) the economy is not producing efficiently. d) the economy cannot reach this point without an increase in resources or improvement in technology. e) both (a) and (c) are correct
(a). Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them. Why can we say that innovation has a ‘systemic’ nature? (b). Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development. Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy. (c). Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries. Please answer all the parts of this question.
Home has 12,000 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 100, while in banana production is 75. There is now also another country, Foreign, with a labor force of 18,000. Foreign’s unit labor requirement in apple production is 120, while in banana production is 150. If w=2w* , what goods should Home produce? What should Foreign produce?
09. If Portugal has a total of 90 man-hours of resources available for production, while England has only 30, what are the resource costs of wine and cloth ? a) wine costs 2 man-hours/bottle and cloth costs 6 man-hours/yard in Portugal. b) wine costs 1 man-hour/bottle and cloth costs 1 man-hour/yard in Portugal. c) cloth costs 2 man-hours/yard and wine costs 1 man-hours/bottle in Portugal. d) wine costs 1/2 yards/bottle and cloth costs 2 bottles/yard in Portugal.
Consider the production productivity matrix of two goods from the US and India: United States of America India Labor force 200 800 Labor per unit corn 8 50 Labor per unit automobile 10 40 1. How many units of corn will the US produce should it exhaust all its labor force to produce corns? Group of answer choices 20 16 25 Not enough data 2. How many units of corn will India produce should it exhaust 3/4s of its labor force to produce corns? Group of answer choices 20 16 25 12 3. Between the USA and India, which country has a comparative advantage in the production of automobiles? Group of answer choices India USA None of the countries Not enough data 4. How many units of automobiles will the US produce should it exhaust half of its labor force to produce automobiles? Group of answer choices 20 10 25 Not enough data 5. How many units of automobiles will India produce should it exhaust all its labor force to produce automobiles? Group of answer…
Fill in the blanks While the study of economic activities of individuals, households, and business at thesub-national level is the concern of ______ the study of economic activities ofthe national and global level is the concern of _______. The three main macroeconomic goals identified are _____ , ______ and _____.
c. Compare the agricultural employment share and agricultural labor productivity, boththe level and the trend, between the two groups of countries(high-income vs. low-income countries). What can you tell about the differences?d. The theory in Lagakos and Waugh (2013) explains the low agricultural labor productivityin low-income countries with self-selection. Explain the main mechanism of the theory onhow self-selection leads to low agricultural labor productivity in poor countries. (both c and d please)
2. Multinational companies (MNC) engaging in technological transfer may lead to gains elsewhere in the economy as (i) workers trained by the MNC move to other parts of the economy. (ii) the MNC takes market share from inefficient local companies. (iii) other companies in the host county may be encouraged to use their methods. Which are of the above statements is/are correct? Only (i) is correct Only (ii) is correct Both (i) and (iii) are correct Both (i) and (ii) are correct Only (iii) is correct
Answer TRUE OR FALSE • Practically all income in underdeveloped nations is used to purchase consumer goods, which leaves little, if anything, for savings. • Because few households can afford to save much, most developing countries depend heavily on corporations for their domestic nongovernmental (i.e., private) savings. • One of the major problems of underdeveloped nations is that they do not have enough people engaged in agriculture.