Trade

Q: Many households supplement their food budget by cultivating small vegetable gardens. Explain how eac...

A: 1.  If both wife and husbands are professionals and earn high salaries then the opportunity cost of ...

Q: The next note that changes in oil prices can affect the inflation-unemployment outcome. Explain what...

A: The changes in the oil prices affect both inflation and employment outcomes as the global demand of ...

Q: Explain it correctly

A:

Q: Suppose the total benefit and total cost to society of various levels of pollution abatement are as​...

A: To find the total net benefit, the requirement is to get the difference between the total benefit ad...

Q: Which of the following describes an increase in technological knowledge? A farmer discovers that i...

A: Technological advancement is an important driver of economic growth as it allows to produce goods an...

Q: using formula sheet only no excel

A: Let equal annual deposit be K. Future value of bike=FV=$10,000interest rtae=i=10%K1-1+i-5i1+i+5001+...

Q: Would the cross-price elasticity of demand for online movie rentals and in-store movie rentals be po...

A: There is a positive cross price elasticity of demand in the case of substitutes. Cross price elastic...

Q: Explain it early and correctly

A: Perfect competition refers to the situation where there are many buyers and sellers exist in the mar...

Q: Many movie consumers who used to rent DVDs are now patronising online video rentals, especially, str...

A: The cross price elasticity of demand is an economic concept that measures the responsiveness in the ...

Q: An increase in U.S. interest rates relative to German interest rates would likely ____ the U.S. dema...

A: Interest rates are a major factor that influence currency value and exchange rates. 

Q: The graph shows a short-run aggregate supply curve. Please move the endpoints to turn the curve into...

A: ANS In the long run (LR) the amount of output (o/p) produced by an economy is at its potential level...

Q: The long run is a period of time: that is too short to change the size of a firm's plant. ...

A: The economy evaluates its production process or policy implication in two different brackets of time...

Q: You borrowed $35,000 to buy a new car from abank at an interest rate of 10.2% compounded monthly.Thi...

A: loan amount=$35,000interest rate=i12=10.2%let monthly insatllment be K35,000=K1-1+i1212-96i121235,00...

Q: QD=50 – 2 P + 0.5 PR and Qs = -4 + P. Here PR if the price of a related good. What is the equilibri...

A: Given that- QD=50 – 2 P + 0.5 PR and where PR is the price of a related good. Qs = -4 + P (1) What...

Q: Environmentalists and the president decide that Canada should reduce air pollution by reducing its u...

A: Answer:  Step 1: Suppose in the market of gasoline without tax, the price of gasoline is P and the q...

Q: What is the relationship between real business cycle models and DSGE models?

A: Real business cycle model refers to a macroeconomic model which says that economic changes or fluctu...

Q: Compare the classical economic theory that was used prior to the Great Depression to the Keynesian t...

A: Classical economic theory, This theory is based on the classical quantity theory of money in which t...

Q: questions in images:

A: a) As shown in the diagram the downward sloping curve is demand for labor and it represents the numb...

Q: Make a case that neither pure competition nor pure monopoly is conducive to a great deal of R&D ...

A: A purely competitive market comprises a large number of small firms that produce and supply goods or...

Q: Consumer surplus measures the benefit to consumers of purchasing a product. Producer surplus measure...

A: Consumer surplus: It is the benefits received by the consumers when they pay less than they are will...

Q: Why is recording the proceedings of job conferences important?

A: The proceeding of a job conference is important.

Q: Q: You borrow $20,000 to be repaid in equal instalments over the following four years. The interest ...

A: Installments that will be paid at the end of every year is estimated as follows: Principal=Cash Flow...

Q: what is the advantage of and disadvantage of globalization and its impact on the economy

A: Globalization is the process in which the businesses operate in an international scale. 

Q: With the aid of a diagram, show the effect of the following changes on the equilibrium price, quanti...

A: A market is a physical or virtual place where consumers and producers interact to carry out the exch...

Q: The Chief Medical Officer has advised the government that consumption of widget-corn improves the su...

A: Hey, thank you for the question. As per the honor code, we are allowed to attempt only the first thr...

Q: You have borrowed $10,000 from a bank with theunderstanding that you will pay it off with a lump sum...

A: Present value of money = 10000 dollars Future value of money = $12000 Number of years = 2 years

Q: Construct a discussion on the different ways that government intervenes in your country. Support you...

A: The economy of the country faces increased interference after the 2007 recession. This is because of...

Q: Lucas likes lemon soda (X) and chips (Y). His utility function is given by: U (X, Y) = X0.2Y0.8  He...

A: Since there are multiple sub-parts in the question, only the first three sub-parts will be answered ...

Q: Only d and e needed

A: Budget coonstraint: 6H + 2F = 1,600 As, when 0 units of housing is produced: 6X0 + 2F = 1,600 F=800 ...

Q: Discuss the three ways in which the gross domestic product (GDP) can be measured? Why does each of t...

A: Definition: GDP The gross domestic product (GDP) is the value of all final goods and services produ...

Q: Why is the price elasticity of demand for Coca-Cola greater than price elasticity of demand for soft...

A: Answer - Elasticity of demand - It is tool which help to measure the change in quantity purchased wi...

Q: .  Assume the following data describe the gasoline market:   (a) Graph the demand and supply curves....

A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for yo...

Q: As a production process requires labor L and capital K, q = F (L, K). The wage for a labor is $500, ...

A: Given that: Production Function: q = f(K, L) where K is capital and L is labor. Wage for one labo...

Q: Question 20 (Table) The table shows coffee and tea units produced for the United States and Japan. I...

A: The comparative advantage is the main factor that determines the international trade in the economy....

Q: Solve it now

A: Given: Consumption (C) =Rs 9 trillion Government expenditure (G) = Rs. 3.2 trillion Investment (I) =...

Q: Solve it early and correctly

A: Inefficient allocation of resource generates the dead-weight loss because it deviates the economy fr...

Q: Which example is a quantity control? unemployment insurance the minimum wage the Medicare reimbursem...

A: Under the quantity control, the legal restriction is imposed on how much quantity can be bought or s...

Q: Explain how gross domestic product is calculated using each of the following: the income approach an...

A: Gross Domestic Product ( GDP ) refers to the market value of the final goods and services produced i...

Q: ​Chloe's Demand Schedule   Price ​($/gallon) Quantity Demanded ​(gallons/year) ​$6 50 ...

A: Willingness to pay is the maximum of the minimum price at which consumer definitely purchase on a un...

Q: As the marginal propensity to consume (MPC) increases, As the marginal propensity to save (MPS) incr...

A: The formula is given as: Multiplier = 1/ (1-MPC) or 1/MPS

Q: Learning how to use software takes time. So once customers have learned to use a particular software...

A: Expenditure on research and development carries a great deal of risk. The improvement of an existing...

Q: You want to save money on the down payment on your flat loan. You are planning to save for the next ...

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Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.