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ECON 1200 - A country has a comparative advantage
QUESTION 1A country has a comparative advantage in producing some good X if it:a.uses fewer resources to produce good X than its trading partners do.b.produces good X at a lower opportunity cost than …
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Describe France's economy in 2008
1. The following data describe France's economy in 2008.Consumption 234 billion eurosGovernment expenditure 93 billion eurosInvestment 88 billion eurosExports 128 billion eurosNet Exports -11 billion …
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Suppose there are two medical goods, Heart surgery and plastic
Ramsey Taxation ProblemSuppose there are two medical goods. Heart surgery and plastic (cosmetic) surgery. The market price for the heart surgery is $100k, the market price for plastic surgery is $10k. …
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ECON 351 - Consider the Heckscher-Ohlin-Samuelson model
Consider the Heckscher-Ohlin-Samuelson model for the US producing 2 goods (digital cameras and baskets) using 2 factors (capital and labor). Let the production of digital cameras be relatively capital …
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ECO 201 - Suppose a firm is contemplating an investment
Suppose a firm is contemplating an investment with an acquisition cost of $2,100 and an economic life of 11 years. Further suppose the stream of Expected Net Revenue on that investment is provided in …
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