Economics: Principles & Policy
Economics: Principles & Policy
14th Edition
ISBN: 9781337696326
Author: William J. Baumol; Alan S. Blinder; John L. Solow
Publisher: Cengage Learning
Question
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Chapter 34, Problem 1TY

a)

To determine

The autarky price of wine in terms of cloth in England.

b)

To determine

The autarky price of wine in terms of cloth in Portugal.

c)

To determine

The production possibility frontier for each country.

d)

To determine

Determine the country which has an absolute advantage and a comparative advantage in the production of goods.

e)

To determine

The specialization and export of goods after trade.

f)

To determine

The equilibrium price once the trade occurs. 

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1. A pension fund manager is considering three mutual funds. The first is a stock fund, the second is a long-term government and corporate fund, and the third is a (riskless) T-bill money market fund that yields a rate of 8%. The probability distributions of the risky funds have the following characteristics: Standard Deviation (%) Expected return (%) Stock fund (Rs) 20 30 Bond fund (RB) 12 15 The correlation between the fund returns is .10.
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