urohy an economist is offered a job in Cleveland with a wage of $80,000/ year while in Los Angeles a similar job is offered at $90,000/ year. The CPI in the current year in Cleveland is 140 while in Los Angeles is 180. Which offer he should accept and show numerically why.
1. Jack Murohy an economist is offered a job in Cleveland with a wage of $80,000/ year while in Los Angeles a similar job is offered at $90,000/ year. The
2. Two countries are willing to trade and they have the following information: Country A produces 1000 units of wheat and 500 units of cell phones in a year. Country B produces 600 units of wheat and 400 units of cell phones a year. Both countries have the same population.
a.) Find the
b.) If they engage in trade what product will each country export and import.
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