The table below contains the unit labor requirements in Home and Foreign for each of five goods as well as the relative productivity advantage of Home. Assume there are no transportation costs. Fill in the five blanks in the table below (Enter your responses rounded to one decimal place where necessary) Good Cell Phones Jackets Laptops MP3 Players Sneakers Home Unit Labor Requirement (a) 4 3 0 9 10 Foreign Unit Labor Requirement (a) 20 21 6 Relative Home Productivity Advantage (aa) 4
Q: how SARB can use an accommodation policy to control inflation in SA
A: The accommodation policy is related to monetary policy, which is contractionary in nature. It is…
Q: Five years ago you invested $18,419 at a 5% market interest rate. If the inflation rate is 2%, what…
A: In the economic climate of today, rates of interest and inflation are essential. Inflation affects…
Q: Maria is a talented artist who sells hand-crafted goods on her website. Maria currently crafts and…
A: The amount that is given up in exchange for something else is known as the opportunity cost, or…
Q: What different trade policies, comparative policies, competitive policies, strategies between ASEAN…
A: Because of its quick expansion, intellectual discoveries, and considerable engagement in global…
Q: If you rent a car, you can (1) return it with a full gas tank, (2) return it without filling it and…
A: Rational expectation theory postulates that people will make decisions based on their experiences in…
Q: 18. Actions in the Cournot model are strategic substitutes because: (a) Demand and price are…
A: Firms compete in the Cournot model by concurrently deciding on output amounts rather than pricing.…
Q: 1. Research on the regional blocks found within African continent and examine their basis of…
A: ***Since the student has posted multiple questions, the expert is required to solve only the first…
Q: Iyana's Pizzas is a takeout-only pizza parlor servicing the college campus of Urbana that…
A: Fixed factors are those factors which cannot be changed in the short run while variable factors can…
Q: А 11. Assume that 50 firms have supply functions QA = p - 10 and another 50 firms have supply…
A: Kink in the supply curve : a kink in the supply curve refers to a point on the supply curve where…
Q: Suppose that the production function is given by Y=AK0.4N0.6. What is the percentage change in…
A:
Q: Consider an economy that has a labor endowment of L= 40 units. The production functions are x -…
A: Production possibility frontier shows different combination of two good or services that can be…
Q: What would happen to the equilibrium price and equilibrium quantity of a good after the government…
A: Production is the process of converting basic materials such as labor and unprocessed commodities…
Q: the valu that is greyed out in the table. units b) To output a unit of sector 2, how many of sector…
A: (a) The value 0.6 that is greyed out in the table represents the proportion of goods or services…
Q: In the circular flow of payments model of the macroeconomy, ... households receive income from firms…
A: The circular flow of income model reflects how money or income flows through the different sectors…
Q: Scooter's Scooters is a large American manufacturer of electric scooters operating out of Mesa.…
A: Economies of scale is when the increase in output decreases the average total cost. Diseconomies of…
Q: Complete the following table with the action each firm will take at this permit price, the amount of…
A: Marginal cost represents the cost of producing an additional unit. Total cost, on the other hand, is…
Q: Paranoia, the largest country in central Antarctica, receives word of an imminent penguin attack.…
A: Investment is a term used to describe a portion of income that is not spent on consumption and is…
Q: Five years ago you invested $18,242. What is the current value of that investment if you use a 5%…
A: Given,
Q: (a) Find any pure strategy Nash equilibria of this game. (b) Find the mixed strategy Nash…
A: (a) Pure Strategy Nash Equilibria:A pure strategy Nash equilibrium occurs when neither player can…
Q: 7 The Chuzzlewits have an income of $m per week. Let x be food and let y be all other goods. Let px…
A: Income refers to the amount of money and other transferable value received over a given period of…
Q: There is a large market in Brisbane for home party entertainers (e.g. people who work as clowns,…
A: Producer surplus is described as the benefit received by a producer through selling a quantity of…
Q: Analyse the economic implications of "rent-seeking" with the aid of a diagram
A: Rent-seeking is referred to when we achieve economic gain through those activities that don't create…
Q: Price Level Use this Figure to answer the following question LRAS PL₂ PL₁ PL BE O a. E₁ O b. Ej O c…
A: Aggregate demand is the sum of consumption, investment, government spending and net export.…
Q: for step 2, wouldn't ep be (p/500-p) instead of 50? Also for step 3 how did you get 25<p?
A: Ed=−1Elasticity of demand measures the responsiveness of quantity demanded when the price of a good…
Q: Firm Aleph operates in a perfectly competitive market in a constant-cost industry and is earning…
A: A perfectly competitive market is a market structure characterized by a large number of buyers and…
Q: This payoff matrix shows a two-player variant of the sushi game, but where B really loves sushi, so…
A: BBNAB10,1510,25N20,150,-5
Q: The U.S. economy records the transactions in the table. Calculate the current account balance, the…
A: In this case, we have to discuss the terms current account balance, capital account balance and…
Q: Discussion 2 1. Why are interest rate high? Interest rates are high because it's a demand of credit,…
A: 1. Why are interest rate high? Interest rates are elevated due to the heightened demand for credit.…
Q: 12. (6 mins) What is the expected utility (EU) hypothesis? What is the present Hiscounted utility…
A: Expected Utility refers to the weighted average of utilities associated with different scenarios…
Q: 6. The equation for a demand curve is given by P = 100 - Qa Calculate elasticity at Qd = 20. (Use Q₁…
A: The price elasticity of demand is defined as the change in the consumption level of a product which…
Q: 3. Achieving lower pollution Suppose the government decides to raise the gasoline tax as a way to…
A: Note: Since you have posted multiple questions, we will provide the solution only to the first…
Q: in terms of price effects the impact poof energy prices changes is often broken down direct and…
A: Direct effects are the immediate consequences that changes in energy costs have on different…
Q: Now, consider the incentive facing Brian individually. The following table looks similar to the…
A: There are two people : Brian & Edison They face two choices : Contribute for park & Do not…
Q: From 1935 to 2009, the yield per acre for corn has in the United States.
A: Yield per acre for corn refers to the amount of corn produced on one acre of land. It is a measure…
Q: a. Graph the demand curve for funnel cakes. Instructions. Use the tool provided 'Demand' to plot the…
A: The demand curve is a graphical representation of the quantity of a good demanded at various price…
Q: Your firm is considering adding a product line. The accounting department has determined that the…
A: Cost function of the new product line : C(x) = 20x + 4840Revenue function : R(x) = 60x Where , x :…
Q: QUESTION 7 To mark national burger day there is a nationwide 50% sale on burgers during May. A…
A: Demand refers to the quantity of goods or services that a consumer is willing and able to buy at a…
Q: Consider an economy that has a labor endowment of L = 40 units. The production functions are x =…
A: Labor endowment in the economy: L=40 unitsThe production function of good x: The production…
Q: QUESTION 4 Rachael has bought a rare stamp collection from a philatelic exhibition (an event where…
A: Economic surplus/loss, also referred to as economic profit/loss, is computed by subtracting total…
Q: Discuss different situations of firm equilibrium in short run under the assumptions of perfect…
A: Perfect competition: A firm in the competitive market is a price taker because it has large number…
Q: Use the market below to answer the following questions: Price $15 $12 $8 $4 $1 15 35 55 D Quantity
A: Consumer surplus gives the estimate of the welfare received by the consumers as a result of market…
Q: Which one (1) of the following statements best describes "The Facility Association"? OA) It is a…
A: Insurance is an agreement between an insurance company (insurer) and an individual or entity…
Q: a) Write an expression for 8(t) (aka: force of interest) such that its accumulation function is the…
A: In mathematics and finance, the force of interest is represented as δ(t), is a concept that…
Q: The importance of Jollibee Food Corporation in economic globalization.
A: Economic globalization implies the increasing interconnectedness and integration of economies across…
Q: Which of the following is a normative statement? Mark all that apply Group of answer choices A;…
A: Normative statements are expressions of opinions, values, or judgments about what ought to be or…
Q: Brian and Edison are considering contributing toward the creation of a public park. Each can choose…
A: Public goods are goods or services that are non-excludable and non-rivalrous, meaning they are…
Q: Essentials of economics: 5. For fiscal year 2011, President Obama proposed to increase military…
A: Opportunity cost is defined as the next best alternative cost. It is a choice made by an individual…
Q: Imposition of tariff by country A on commodity Y (Commodity Y in vertical axis) and country A is a…
A: It can be defined as a graphical representation that shows the relation between the commodity’s…
Q: What are the consequences if consumer acts in the market according to Myopia and ignore its…
A: Consumer myopia is a term used in economics to describe a tendency for people to place more…
Q: A) What is the arc price elastic of demand for health care consumers in Japan (using only this…
A: Note: Since you have posted multiple questions, we will provide the solution only to the first…
Note:-
- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.
- Answer completely.
- You will get up vote for sure.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- 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…L TP AP MP 0 0 1 35 2 80 3 122 4 156 5 177 6 180 1. Compute marginal products and average products of the various quantities of labour! 2. Made coclusions!Chose the trrue statement. a. Sincce the mid 1800ss , Unitedd States of America has experienced substantial migration in workforce in the following order: From service sector to agriculture, and then from agriculture to manufacturing. b. Moderniization or advances in technology, and smarrter processes are example factors that have increased manufacturing productivity in the US. c. The Clarrk-Fisher hypothhesis implies that as productivity increases in one sector, the labor force moves to another sector. d. b and c are true.
- A firm spends 1.000 pesos regardless of how much output is produced. Every worker hired by the firm receives a wage of 1,200 pesos. We also know that: L TP AP MP TFC TVC TC AFC AVC AC MC 0 0 1 50 2 104 3 162 4 224 5 282 6 336 7 386 8 432 9 474 10 512 11 546 12 576 13 602 14 624 15 640 Where L =…A firm spends 1.000 pesos regardless of how much output is produced. Every worker hired by the firm receives a wage of 1,200 pesos. We also know that: L TP AP MP TFC TVC TC AFC AVC AC MC 0 0 1 50 2 104 3 162 4 224 5 282 6 336 7 386 8 432 9 474 10 512 11 546 12 576 13 602 14 624 15 640 Where L =…I plan to reopen a business consists of five kiosks for serving the customers who come to service their Phones. In this case, I must hir five Professional workers.So here, we can regard the kiosk and workers as the input and the serviceable phones as output. IN five kiosks = I can serve a total of 100 customers every week. But the expectons we will facing 150 customers daily for servicing their Phones.So, to serve all the customers, if I -rent five more kiosks to do the needful and also , hir additional five Professional workers. 1- How to exhibit increasing returns To Scale?2- How to exhibit decreasing Returns To Scale3- How to exhibit Constant returns to scale? Please make sure to include an adequate explanation as to why this is true.
- A firm spends 1.000 pesos regardless of how much output is produced. Evry worker hired by the firm receives a wage of 1,200 pesos. We also know that: L TP AP MP TFC TVC TC AFC AVC AC MC 0 0 1 50 2 104 3 162 4 224 5 282 6 336 7 386 8 432 9 474 10 512 11 546 12 576 13 602 14 624 15 640 Where L =…Galaxy, a multinational corporation, has two plants, one in the United States and the other inMexico, and it cannot change the size of the plants or the amount of capital equipment in theshort run. The wage in Mexico is equivalent to US $5 per hour. The wage in the U.S. is $25 perhour. Given current employment situation, the productivity per worker in Mexico is 200 units perhour, and the productivity per worker in the U.S. is 400 units per hour.Is Galaxy maximizing output relative to its labor cost? If not, what should Galaxy do19. Assuming England has 60 man-hours (mhrs) of labor resource available for production, and labor is the only resource, the per unit resource cost of cloth in England is ____ mhrs/yard. (Please do NOT reduce fractions to decimals.)
- Relationship between the Quantity of inputs used to make a good and the quantity of output of that good is called ………… a) Production function b) None of the mentioned c) Import d) ExportFactor Cigars (100 boxes) Soybeans (100 bushels) Acres of land (T) TC= 0.2 TS= 0.8 Hours of labor (L) LC= 0.4 LS= 0.4 where, TC = the number of acres of land used to produce 100 boxes of cigars. LC = the number of labor hours used to produce 100 boxes of cigars. TS = the number of acres of land used to produce 100 bushels of soybeans. LS = the number of labor hours used to produce 100 bushels of soybeans. The table above shows the amounts of land and labor used, given current factor prices, to produce a unit of each of two goods. According to this data, the cigar industry currently uses a land-labor ratio equal toThe nation of Kona cultivates coffee beans and cassava, from which all their consumer goods are produced. (a) Calculate the cost of the market basket of goods in the table in 20102010 and in 20152015. Show your work. (b) Use 20102010 as the base year to calculate the price indices for 20102010 and 20152015 for the market basket of goods in the table. Show your work. (c) In order for a citizen of Kona to maintain the same standard of living between 20102010 and 20152015, what percentage change in nominal income would be needed? Explain.