Posted: April 2nd, 2017
REFERENCE: Mankiw, N. Gregory (2015). Principles of Macroeconomics (7th ed.). Stamford, CT: Cengage Learning.
Principles of Macroeconomics, Ch. 3: Interdependence and the Gains From Trade
Consider two countries that produce steel and wheat. The production possibilities frontier for each county is bowed outwards (it is ‘concave to the origin’).
Is it possible for one of the two countries to have the absolute advantage in producing both steel and wheat?
Is it possible for one of the two countries to have the comparative advantage in producing both steel and wheat?
Question 2: If the U.S. imposed tariffs on goods imported from other countries, and other countries did not retaliate with their own tariffs on U.S. goods, who would gain and who would lose in the U.S.?
In your answer, you should
(a) select a good that is imported from abroad and that competes with U.S. produced goods; or
(b) select a good that is used as an input in the production of U.S. produced goods.
Provide examples in your response.
Principles of Macroeconomics, Ch. 4: The Market Forces of Supply and Demand
Several macroeconomic models rely on the basic supply and demand model from microeconomics. Two of these include the market for loanable funds and the markets for labor. What are the ‘prices’ in each of these markets? In the market for loanable funds, how would a large increase in government borrowing to fund national infrastructure spending affect the price and quantity of loanable funds?
I know its short notice, but can I get these back by 4/2/2017 by 1000 pm est?
Place an order in 3 easy steps. Takes less than 5 mins.