Suppose that computers use 4 units of capital for each worker, so that Kc = 4 x Lc, whereas shoes use 0.2 units of capital for each worker, so that Ks = 0.2 x Ls. There are 200 workers and 200 units of capital in the economy. Solve for the amount of labor and capital used in each country.
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Suppose that computers use 4 units of capital for each worker, so that Kc = 4 x Lc, whereas shoes use 0.2 units of capital for each worker, so that Ks = 0.2 x Ls. There are 200 workers and 200 units of capital in the economy. Solve for the amount of labor
1. Suppose that computers use 4 units of capital for each worker, so that KC = 4 ⋅ LC , whereas shoes use 0.2 units of capital for each worker, so that KS = 0.2 ⋅ LS. There are 200 workers and 200 units of capital in the economy. a.Solve for the amount of labor and capital used in each industry. b. Suppose that the number of workers increases to 250 because of immigration, keeping total capital fixed at 200....
Question 2. (5 points): This question is based on Chapter 5; Movement of labor and capital between countries. F. Now suppose, Cars use 4 units of capital for each worker (Kc/Lc = 4 or Kc= 4Lc) whereas grains use 0.2 units of capital for each worker (KG/LG = 0.2 or Kg = 0.2LG). There are 200 workers and 200 units of capital in the economy. Solve for labor and capital in each industry. (hint: Kc+ Kg = 200 and Lc...
Suppose two countries, Grainland and Carsland, use only capital and labor to produce two goods, Grain (G) and Cars (C). Grainland has 2,050 units of capital and 916 units of labor, and Carland has 816 units of capital and 270 units of labor. In Carsland, there are 366 units of capital and 135 units of labor employed in the Grain industry. In Grainland, there are 926 units of capital and 618 units of labor employed in the Grain industry.A. Which...
X Homework (Ch 12) 4. The catch-up effect Consider the economies of Blahnik and Gobbledigook, both of which produce gaggles course of 50 years, the level of physical capital per worker rises by 5 tools per worker in same. only tools and workers. Suppose that, during the economy, but the size of each labor force remains the Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2013 and 2063. Blahnik Physical Capital...
SECTION# NAME PRINT LAST NAME, FIRST NAME Suppose 9 workers can repair 36 television sets per day. If a tenth worker is hired and the each worker repairs, on average, 4 T.V. sets per day when nine workers are hired average product must be rising because the marginal product of the tenth worker 6. total number of repaired T.V. sets increases to 39, then: a. the marginal product of the tenth worker is 3.9 T.V, sets b. is greater than...
macroeconomic please solve it all i need help 8. If the price of coffee decreases, all else held coestant, the Law of Demand states that a firms will produce more coffee b. people will buy more coffee 9. If the price of coffee decreases, all else held constant, the Law of Supply states that a firms will produce more coffee b. people will buy more coffee e. firms will produce less coffee d people will buy more milk shakes c....
2. Download the annual real GDP and GDP data of the United States 1950-2018 from FRED. For the real GDP, the data online is chain-weighted and uses 2012 as the base year. In the lecture hursday, I showed you the detailed method and calculated the new chain-weighted real GDP when 1990 is the base year. You are required to calculate a new sequence of chain- weighted real GDP given a new base-year. The base year you should use in your...
Chapter overview 1. Reasons for international trade Resources reasons Economic reasons Other reasons 2. Difference between international trade and domestic trade More complex context More difficult and risky Higher management skills required 3. Basic concept s relating to international trade Visible trade & invisible trade Favorable trade & unfavorable trade General trade system & special trade system Volume of international trade & quantum of international trade Commodity composition of international trade Geographical composition of international trade Degree / ratio of...
macoroeconomics 1. Society as a whole faces opportunity costs because a. there is not enough money to go around b. politicians are greedy c. resources are scarce d. our needs are unlimited 2. Mary decides to spend 3 hours working overtime rather than watching a video with her friends. She earns $9 an hour. Her opportunity cost of working is: a. the enjoyment she would have received had she watched the video with friends. b. $27 she earns working c....
ΤΕΧΝΙΤΗΤΗ iple Choice y the choice that best completes the statement or answers the question. The production possibilities frontier is a graph that shows the various combinations of output that an economy a. should produce. b. wants to produce. c. can produce d. demands 2 The price index was 320 in one year and 360 in the next year. What was the inflation rate? a. 9 percent ((B-A)/A)*100 b. 11.1 percent c. 12.5 percent ((360 - 320)/320)*100 d. 40 percent...