not use ai please 4.Use the following information to answer question 4.HomeForeignMarginal Product of LaborCheese31WineLabor Force5340100Assume the Ricardian model. Assume no trade for parts a - C.a. What is relative price of wine (PW/Pc) in the homein the home countrywithout trade? What is relative price of wine (P/P'c) in theforeign country without trade?b. Sketch the production possibilities frontier. Draw cheese onthe vertical axis and wine on the horizontal axis. Label youraxes and show numerical values for both the vertical andhorizontal intercepts.C.Suppose both the home country is consuming 120 units of wine.How much cheese is it consuming?Assume trade for the remainder of the homework. Assume that therelative price of wine equals .5 after trade.d. Sketch the budget line (consumption possibilities frontier)after trade for the home country. Draw cheese on the vertical

Ans. ) Given the question is based on the concepts of marginal product of labor and the production…

Answered: 4. Use the following information to…

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 28CTQ: Can you think of ways that globalization has helped you economically? Can you think of ways that it...

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BTU, draw a diagram to illustrate how the develop- c. As a percent of total exports, rank the states in orda b. Calculate the growth in exports from 2002 to 2012 156 I PART 2 SUPPLY AND DEMAND C. Assuming natural gas prices in Europe are $6.00 per BTU, draw a diagram to illustrate how the develop- ment of a natural gas terminal in the United States will affect supply and demand in the natural gas market for Europe. Explain your findings. d. How will the exporting of natural gas from the United States to Europe affect consumers and pro0- ducers in both places? Note that most of the natural gas in Europe originates from Russia's state-owned natural gas company, Gazprom. Access the Discovering Data exercise for Chapter 5 online to answer the following 3. questions. a. Rank the states in order of exports to China. Rank in order of most to fewest exports. for each state. of most to least exports to Chino
WTO presented mitigation ways to counter the impact of covid 19 to the global tourism industry market, what are the priorities for tourism recovery mentioned? 2. What were the immediate steps taken by the Philippine DOT to counter the effect of the COVID 19 pandemic in the local tourism industry. 3. How do you understand this quote " THE FILIPINO SPIRIT will be THE DRIVING FORCE THAT WILL JUMPSTART THE NATION TOWARDS RECOVERY". 4. As per the seminar, domestic tourism or domestic travel market will be the first to recover post-pandemic. How is it so? 5. What were your personal takeaways/learnings from the webinar?
9. Answer ALL parts of this question. Consider the standard trade model with two goods and two factors, labour and capital. (a) Suppose that a country experiences an increase in its labour force. Assume thatgood X is labour intensive and good Y is capital intensive. How would theproduction possibility frontier change as a result? Illustrate this with a simplediagram. (b) What does it mean for the “terms of trade” to improve and why might this matter interms of welfare? (c) Consider two countries: Home and Foreign. Each country produces two goods,cloth (C) and food (F). Assume Home is an exporter of cloth. Now suppose Homeimposes a 20 percent tariff on the value of food imports. What will be the effect ofthe food tariff on the relative price of cloth and terms of trade? Illustrate youranswer with a relevant diagram. You may assume that Home is large enough toaffect the world market.
Further information on the activities of the Juice industry in 2023 is provided in table 2.1 below in millions of Eastern Caribbean dollars (ECD).Table 2.1ECD millionSubsidies 0Gross national product at market prices 300Imports 30Net national product 275Exports 30Net national product at factor cost 260Personal savings 15Personal income 225Government transfer payments 5Undistributed corporate profits 20Government expenditure on commodities 40Personal consumption 160Using the following Global-Land 2022 data in table 2.1 provide Estimates of the Following KeyNational Accounting Aggregates:i. Personal disposable incomeii. Indirect taxesiii. Net investmentiv. Depreciationv. Corporate income taxesvi. Personal income taxes
Further information on the activities of the Juice industry in 2023 is providedin table 2.1 below in millions of Eastern Caribbean dollars (ECD).Table 2.1ECD millionSubsidies 0Gross national product at market prices 300Imports 30Net national product 275Exports 30Net national product at factor cost 260Personal savings 15Personal income 225Government transfer payments 5Undistributed corporate profits 20Government expenditure on commodities 40Personal consumption 160Using the following Global-Land 2022 data in table 2.1 provide Estimates of the Following KeyNational Accounting Aggregates: (30 marks)(1 mark each for the formula, 4 marks each for the working and the solution)i. Personal disposable incomeii. Indirect taxesiii. Net investmentiv. Depreciation
Further information on the activities of the Juice industry in 2023 is providedin table 2.1 below in millions of Eastern Caribbean dollars (ECD).Table 2.1ECD millionSubsidies 0Gross national product at market prices 300Imports 30Net national product 275Exports 30Net national product at factor cost 260Personal savings 15Personal income 225Government transfer payments 5Undistributed corporate profits 20Government expenditure on commodities 40Personal consumption 160Using the following Global-Land 2022 data in table 2.1 provide Estimates of the Following KeyNational Accounting Aggregates: (30 marks)(1 mark each for the formula, 4 marks each for the working and the solution
You just got a job in Washington, D.C. You moveinto an apartment with some acquaintances. All yourroommates, however, are slackers and do not clean upafter themselves. You, on the other hand, can clean fasterthan each of them. You determine that you are 70%faster at dishes and 10% faster with vacuuming. All ofthese tasks have to be done daily. Which jobs shouldyou assign to your roommates to get the most free timeoverall? Assume you have the same number of hours todevote to cleaning. Now, since you are faster, you seemto get done quicker than your roommate. What sortsof problems may this create? Can you imagine a traderelated analogy to this problem?
Can you think of ways that globalization has helped you economically? Can you think of ways that it has not?
Table 33.15 shows how the average costs of production for semiconductors (the chips In computer memories) change as the quantity of semiconductors built at that factory increases. Based on these data, sketch a curve with quantity produced on the horizontal axis and average cost of production on the vertical axis. How does the curve illustrate economies of scale? If the equilibrium quantity of semiconductors demanded is 90,000, can this economy take full advantage of economies of scale? What about if quantity demanded is 70,000 semiconductors? 50,000 semiconductors? 30,000 semiconductors? Explain how international trade could make it possible for even a small economy to take full advantage of economies of scale, while also benefiting from competition and the variety offered by several producers.
What factors does Paul Krugman identity that supported expanding international trade in the 1800s?
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.
> O ho signment - ECN204 021- Introductory Macroeconomics - W2023 apter 17 Assignment i 1 B 02:44:19 W b Success Confirmation 4+ Help

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