While Dornbusch Fisher and Samuelson (1977) extended the setting of Ricardo to ---. Eaton and Kortum Model (2002) extended the setting to Options to complete it: 1-to many goods two countries 2-many countries and many goods 3- many countries and two goods
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- Derrida reports an admittedly strange saying of Aristotle's that there are no which of the following? O lovers O countrymen O friends O RomansWhat is Engel's law?The graph below is Mendork's production possibility curve for the only two goods that it produces-quirks and quarks. Quantity of Quarks 800 700 600 500 400 300 200 100 A 2 4 6 8 10 12 14 16 18 20 Quantity of Quirks Select one: Refer to the graph above to answer this question. If new technology increased the output of quirks by 50%, how many quirks could be produced if 700 quarks were produced? B A. 9 quirks. B. 18 quirks. C. 10 quirks. D. 20 quirks. E. No quirks.
- Einstein was quoted saying "Everything should be made as simple as possible, but not simpler." When it comes to economic models this means that O models shouldn't be too simple O All of the three other options are correct Omodels should have a level of abstraction appropriate to the topic investigated O models shouldn't be too complex.5 The doctrine of comparative advantoge was first put forth by aved put of Select one: O a John Maynard Keynes b. David Ricardo O C. Adam Smith O d Ricky Ricardo Clear my choiceRichard Thaler provides three criticisms of the homo economicus model in his book “Missbehaving”. One of them is SIFs, but what are the other two?
- why is the market for recycled aluminium good and the market for plastic bad in the US? Depict this with a firm input choice model. I understand that recycled plastic decreases in qualiy everytime it is recycled while aluminium does not and can be recylced without the decrease in quality, but I dont know how to depict this graphicallyDifferentiate between positive economics and normative economics give atleast four differencePlease help me with this economics maths
- An economy produces two goods ,X and Y .lt uses two means of production, labour and capital. A unit of labour can produce either 1unit of X or 4units of Y (or linear combination of the two).A unit of capital can produce either 4units of X or 1unit of Y (or linear combination of the two)there are 100units of each means of production. (i) Draw the production possibility frontier of the economy when the two goods can only be produced by a mixture of both factors. (ii)What will be the opportunity cost of X if the economy produces 50units of X ? (iii) Given that the production technology is linear ,will the opportunity cost of X remain unchanged when we produce 90units of X ? (iv)Briefly explain the difference between the PPC with a constant opportunity cost and the PPC with an increasing opportunity cost as more output of one good is produced. Use a well labeled diagram to explain your answer?Need help with this homework thinking question (about opportunity costs) Sigmund Freud, in his 1930 essay Civilization and Its Discontents, argues that thesublimation of sexual desire leads to the mental energy required for advances in civiliza-tion: science, art, politics, etc. He writes,“Sublimation of instinct [such as sexual instinct] is an especially conspicu-ous feature of cultural development; it is what makes it possible for higherpsychical activities, scientific, artistic, or ideological, to play such an impor-tant part in civilized life... it is impossible to overlook the extent to whichcivilization is built up upon a renunciation of instinct...” How would an economist phrase Freud’s argument, in terms of opportunity costs? Might this explain the development of monogamous marriage as an institution?State and explain Walras Law. What are the implications of Walras’s Law? Illustrate Walras Law in an Edgeworth-Bowley diagram. Explain.