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Imagine that the production function for tuna cans is given by q=6K+ 4L
where q=Output of tuna cans per hour K=Capital input per hour L= Labor input per hour
Assuming capital is fixed at K= 8, how much L is required to produce 100 tuna cans per hour?
Develop a qualitative analysis on income, interest rate, trade balance and private consumption using the IS-LM-BP model if the Fiji dollar was devalued. Assume perfect capital mobility. Carefully discuss the adjustment processes.
Copy and complete this table
Income. C. S. MPS. MPC. APC. APS
0. 400. a. - - b c
1000. d. e. f. 0.6. g. h
1500. I. j. k l. m. 0.89
Given the information
Product. Qty produced price. Qty produced. Price
(kg) 1995. 1995. (kg). 2000
Maize. 50 N20 100 N30
Rice. 80 N40 160 N60
Calculate:
- The GNP at market 2000 prices, GNP at current 1995 prices GNP at constant 1995 prices in year 2000
- The GNP price deflator (Nominal GNP)/Real GNP
Suppose a survey by the Department of Roads in 2019 revealed that 60% of the vehicles travelling on Suva-Nadi Highway, where speed limits are posted at 80 kilometres per hour are found to be exceeding the limit. Suppose you randomly record the speed of 10 vehicles travelling on the highway as part of your internship. The sample size of the entire survey is not disclosed to you. Compute the following probabilities. Showing all working. a) P (X = 2). [3 marks] b) P (X = 5). [3 marks] c) P (X = 10)
Label the point where both commodities cross each as R
Starting at the point where X1 crosses Y1, show that the output of cocoa, coffee, or both can be increased with the given amounts of 18L and 12K.
Derive the contract curve and indicate what it means.
What is the equilibrium condition that holds along the production contract curve and express it in an algebraic form?
What is the value of the MRTSLK?
What happens to BOP (trade balance), interest rates and private consumption when there is a currency devaluation assuming perfect capital mobility
with the aid of the Phillip's curve explain what happens to unemployment in the shorts run and in the long -run if central bank unexpectedly pursues contractionary monetary policy
explain How fiscal policy influences aggregate demand and how these can be used to expand the economy?
Essay on the keynesian theory of unemployment.
