- - - - - - - - K - - - - Price of Newsprint - - - I l l l l ls Market for Newsprint FIGURE 33-5 4) Refer to Figure 33-5. If Paperland engages in international trade and the world price is PA, the amount of newsprint will be A) imported; Qs -Q B) exported; Os C) imported; Q. D) exported; Qs - Q E) imported; Qs - Q3
Related textbook solutions
Related questions
1. An import tariff
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a. lowers the domestic price of the exported good below the world price. |
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b. keeps the domestic price of the exported goods the same as the world price. |
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c. raises the domestic price of the imported good above the world price |
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d. lowers the domestic price of the imported good below the world price. |
2. Which two accounts are included in the balance of payments:
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a. current account and the reserve account. |
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b. current account and the trade account. |
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c. current account and the capital account. |
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d. trade account and the capital account. |
3. A producer has a comparative advantage in the production of a good when the producer:
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a. has a production cost that is less than sales revenue. |
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b. has the highest cost of production compared to any other producer. |
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c. is comparatively more efficient at producing the good than it is at producing anything else. |
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d. specializes through the use of an assembly line. |
4. According to the Fischer effect, if the "real" rate of interest in a country is 4 percent and expected annual inflation is 9 percent, the "nominal" interest rate will be _____.
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C. 9 percent |
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D. 36 percent |
This is due today!! Thank you!!
Consider a firm with production function f(L, K)=2L+6K. Assume that capital is fixed at K=6. Then, the amount of labor necessary to produce q units is?
| A |
L(q,6)= q-12 |
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| B |
L(q,6)= q/18-5 |
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| C |
L(q,6)= q/2-18 |
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| D |
L(q,6)= 3q/5-2 |
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| E |
L(q,6)= q2/2-12 |
Consider a firm with production function f(L, K)= 4L2/3K1/3. Assume that capital is fixed at K=1. Assume also that the price of capital r=4 and the price of labor w=2. Then, the average cost of producing q units is?
| A |
AC(q)= 4/q+q1/2/4. |
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| B |
AC(q)= 2/q+1/4q1/3. |
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| C |
AC(q)= 2/3q+1/q1/3. |
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| D |
AC(q)= 1/3q+q1/2. |
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| E |
AC(q)=8/q+2q1/2. |
Consider a firm with production function f(L, K)=3L1/3K2/3. Assume that capital is fixed at K=1. Assume also that the price of capital r=5 and the price of labor w=3. Then, the cost of producing q units is?
| A |
C(q)=3+q2/9. |
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| B |
C(q)=10+q3. |
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| C |
C(q)=5+q3/9. |
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| D |
C(q)=2/3+q2/3. |
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| E |
C(q)=1/3+q3/3. |
