Macroeconomics (Mcgraw-hill Series in Economics)
Macroeconomics (Mcgraw-hill Series in Economics)
10th Edition
ISBN: 9781259663048
Author: David C Colander
Publisher: McGraw-Hill Education
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Chapter 24, Problem 1IP
To determine

Future of the England with more machines than the slaves.

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The ways in which people choose to spend their time can provide important information to economists and other social scientists who study human behaviour. In particular, differences in how people use their time are often indicative of inequalities in important economic outcomes. Read the two articles below: How do people across the world spend their time and what does this tell us about living conditions? POST 1: Why is it important to understand differences in time use across different population groups? This post will be assessed as an  original contribution. [100-150 words]
In Avengers: Infinity War the character Thanos seeks to use the power of the infinity stones to eliminate half the people in the universe. If output of the universe can be modeled by y= Ax F(K.L) where F(KI)= Kl/3, 2/3 with an initial K = 100, L = 100, and A = 1, then how much would output change if Thanos gets his wish? (Calculate the percent change and give your answer as a decimal. It will be negative because output will be lower.)
06:52 < Title Ebenezer and Scrooge are two countries that can trade with each other. There are two items, (H) and (J). There is only one factor of production: labor (measured as working hours per time period). The labor input per produced unit of the two goods can be seen below. The assumptions of the Ricardo model are met. Country: Ebenezer Item H=20 Item J=10 Country: Scrooge Item H: 18 Item J: 6 So the question is: Is the following statement true or false? “Since 10 < 20, Ebenezer has one absolute advantage in the production of good J? ( =T Vo)) LTE1 .Il 90% |4 T (T) 17▼
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