Economics Answers

 American and Japanese workers can each produce 4 cars a year. An American worker can produce 10 tons of grain a year, whereas a Japanese worker can produce 5 tons of grain a year. To keep things simple, assume that each country has 100 million workers.

1. For this situation, construct a table analogous to the table in Figure 1.
2. Graph the production possibilities frontiers for the American and Japanese economies.
3. For the United States, what is the opportunity cost of the car? Of grain? For Japan, what is the opportunity cost of a car? Of grain? Put this information in a table analogous to Table 1.
4. Which country has an absolute advantage in producing cars? In producing grain?
5. Which country has a comparative advantage in producing cars? In producing grain?
6. Without trade, half of each country’s workers produce cars and half produce grain. What quantities of cars and grain does each country produce?
7. Starting from a position without trade, give an example in which trade makes each country better off.

explain all other things being equal

 A firm is considering to undertake one of these four projects. Recruit new staff. This would generate GH¢ 1,310 profit to the firm. Buy raw materials; which would generate GH¢ 1,420 profit. Pay workers’ bonuses. This would earn the firm GH¢ 1,500. Open another branch; which would make the firm record GH¢ 1,480 as profit. Each of the projects will cost the firm GH¢ 1,000.

(a) Rank the projects in order of importance, from the first to the last

(b) Find the opportunity cost of each project of the first three items in (a). (c) Find the net benefit of each of the first three items in (b) using

(i) direct cost.

(ii) opportunity cost.

(d) From your results in (cii), which project will you recommend to the firm? Explain your answer.

how gdp is determine in a 4 sector economy explain using aggregate expenditure and aggregate output approach

1. For each of the following statements, illustrate the effect of each event on the market for red snapper fish and indicate the effects on the equilibrium price and quantity.
2. A surgeon general warns that high-cholesterol foods such as beef cause heart attacks.
3. A new fishing wire reduces the time taken to harvest fish while at the same time there is a report that persons have developed food poisoning from consuming fish.

Christine and Paul are deciding how to split their time

between writing music and lyrics for their new album. Their

PPFs for 72 h of work are shown. Christine and Paul have to

write music for 8 songs and lyrics for 12 songs (4 songs

already have music). When they are done, they can go to a

private island and relax from all their hard work. It is possible

that they will use more than 72 h.

Once they start writing lyrics and music, assuming their hired

help packs for them and their plane is waiting outside their

door, in how many hours can they board the plane to their

relaxing island getaway?

Directions: Please identify one thing on the site that you found very helpful. Identify and describe the item and encourage other students to take advantage of the item you found on: Nerd Wallet.

Context Link: https://www.nerdwallet.com/article/finance/how-to-budget

Instructions: Make sure to use proper grammar and punctuation in this college-level course in all correspondence. Please avoid “text” or “twitter speak” when corresponding.

Consider the following general version of the Keynesian cross:

Y = C + I + G

C = a + b(Y − T)

I = c − dr

Assume that taxes (T) are not fixed but depend on income in the following

way:

T = T ¯ + tY

where T > ¯ 0 and 0 < t < 1 are parameters of the tax system.The parameter t is the marginal tax rate: if income rises by $1, taxes rise by t$1.

Furthermore, a > 0,0 < b < 1, c > 0, d > 0.

(a) How does this tax system change the way consumption responds to

changes in GDP?

(b) In the Keynesian cross, how does this tax system alter the governmentpurchases multiplier?

(c) Find the IS equation from this Kenesian cross mode. How does this

tax system alter the slope of the IS curve?

the demand curve faced by a Monopolist is p= 120-3Q.the marginal cost curve in factory 1and factory 2 are respectively as follows MC1=10+20Q1 MC2=60+5Q2 what is the equilibrium price

According to supply-side theorists, the aggregate supply curve will shift to the right when _____