products W Plastic products Figure 2-4 shows various points on three different production possibilities frontiers for a nation. Refer to Figure 2-4. Consider the following events: a. a decrease in the unemployment rate b. an increase in a nation's money supply c. an influx of immigrant workers Which of the events listed above could cause a movement from X to 27 a, b, and c Oa and b only aande only.

products W Plastic products Figure 2-4 shows various points on three different production possibilities frontiers for a nation. Refer to Figure 2-4. Consider the following events: a. a decrease in the unemployment rate b. an increase in a nation's money supply c. an influx of immigrant workers Which of the events listed above could cause a movement from X to 27 a, b, and c Oa and b only aande only.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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What goal of foreign policy is being achieved in the following example: US and UN troops oversaw Afghanistan's presidential elections to ensure it was held in a fair manner O Promote human rights (humanitarian) O Protect security O Spread democracy O Encourage free trade 1 lish Support | Schoology Blog | PRIV here to search 市

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Use the following chart for the 3 parts Factor Endowments US Belgium Labor 331 11 Capital Stock 100 7 Part 1: According to the chart and the Heckscher-Ohlin theory the US is A. Capital intensive B. Labor intensive C. Both capital and labor intensive D. Best to practice autarky Part 2: According to the chart and the Heckscher-Ohlin theory the US will _________ labor intensive and ________ capital intensive goods. A. Export, export B. Import, export C. Export, Import D. Import, Import E. Practice Autarky Part 3: According to the chart and the H-O model, when these two countries trade A. US capital owners will be winners B. US labor owners will be winners C. Belgium capital owners will be winners D. Belgium labor owners will be winners E. A and D F. B and C
2. In a one-factor economy, you have the following information: Home has 1,200 units of labor available. It can produce two goods, apples and bananas. The unit labor requirement in apple production is 3, while in banana production it is 2. Foreign, has a labor force of 800. Foreign's unit labor requirement in apple production is 5, while in banana production it is 1. a. Graph Home's & Foreign production possibility frontier. Specify the maximum quantity that can be produced from both goods. Find the absolute value of the slope. b. Compare the opportunity cost of apples in Home and in Foreign. c. If apples are sold at $9/unit and bananas are sold at $5/unit. Find the wages paid in Home to produce apples and bananas. d. Identify the good that Home should specialize in and why.
2. What are the three reasons of migration? Explain each.
Allowing free trade can lead to greater output because of:A. diseconomies of scale.B. the rule of lawC. the principle of comparative advantageD. the Rule of 70E. the principle of absolute advantage.
4. The model that trade can make everyone better off applies to: Group of answer choices A. countries B. individuals C. firms D. all of the above
If a country closes off to trade and prices remain unchanged, what does that mean? A. Autarky prices and free trade prices are the same. B. Autarky prices are larger than free trade prices. C. Autarky prices are smaller than free trade prices. D. The absolute value of autarky prices are negatively correlated with free trade prices Explain your answer in up to 200 words and using a diagram
A government assists firms in certain industries so that rival foreign firms will not prevent them from growing into sustainable businesses. Which argument is being advocated? a. infant industry b. free trade c. national security d. consumer protection
3. Standard of living of a country can be raised if it increases A. O Labour force B. O Production C. O Money supply D. O Exports
No written by hand solution Which of the following is among the ways a quota can be rationed by a government? A. Government gives the quota licenses free to domestic importers/producers. B. Voluntary Export Restraint - the government gives the quota licenses for free to foreigners. C. All of the answers are possible ways quotas can be rationed D. Government auctions the quota licenses.