Business, 18.09.2019 18:30 mnikitha07
Suppose that italy and austria both produce fish and cheese. italy's opportunity cost of producing a pound of cheese is 4 pounds of fish while austria's opportunity cost of producing a pound of cheese is 10 pounds of fish. by comparing the opportunity cost of producing cheese in the two countries, you can tell thatitaly has a comparative advantage in the production of cheese andaustria has a comparative advantage in the production of fish. suppose that italy and austria consider trading cheese and fish with each other. italy can gain from specialization and trade as long as it receives more than of fish for each pound of cheese it exports to austria. similarly, austria can gain from trade as long as it receives more than of cheese for each pound of fish it exports to italy. based on your answer to the last question, which of the following prices of trade (that is, price of cheese in terms of fish) would allow both austria and italy to gain from trade? check all that apply. 9 pounds of fish per pound of cheese 18 pounds of fish per pound of cheese 3 pounds of fish per pound of cheese 1 pound of fish per pound of cheese
Answers: 2
Business, 22.06.2019 12:50
Explain whether each of the following events increases or decreases the money supply. a. the fed buys bonds in open-market operations. b. the fed reduces the reserve requirement. c. the fed increases the interest rate it pays on reserves. d. citibank repays a loan it had previously taken from the fed. e. after a rash of pickpocketing, people decide to hold less currency. f. fearful of bank runs, bankers decide to hold more excess reserves. g. the fomc increases its target for the federal funds rate.
Answers: 3
Business, 22.06.2019 13:30
If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?
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Business, 22.06.2019 22:20
Which of the following is correct? a. a tax burden falls more heavily on the side of the market that is more elastic.b. a tax burden falls more heavily on the side of the market that is less elastic.c. a tax burden falls more heavily on the side of the market that is closer to unit elastic.d. a tax burden is distributed independently of the relative elasticities of supply and demand.
Answers: 1
Suppose that italy and austria both produce fish and cheese. italy's opportunity cost of producing a...
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