QUESTIONS 1. What was the symbolic significance of a successful terrorist attack on the World Trade Center? 2. Explain the economic significance of the changes in stock market prices illustrated by the graph above. 3. The short-term consequences of the attack appear significant. Do you expect the long-term effects to be as significant? Explain.
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- A Appl A Acti Sear x G dicti - Clas X E Stoc x S Sear A Socr x * http oms die IFAlpOLSeafd7pY 4JrnNm2YBVXfCofLt9k3KwA8ZPyAcexBZXgQKw/viewform?hr_submission=Ch ESEAINKOT38AWSBW in moodle G dictionary english a.. StudentVUE E is A Minnesota State Ap. A Application | Status. oom A Apply to Augsi TLIS a stOCK Index 5. Amazon, Disney and Target are examples of * Venture Capital companies O Risky investments Fortune 500 or "Blue Chip" stocks Mutual Funds US acer & 5 7 8The following table describes the productionpossibilities of two cities in the country of Baseballia:Pairs of RedSocks per Workerper HourPairs of WhiteSocks per Workerper HourBoston 3 3Chicago 2 1a. Without trade, what is the price of white socks (interms of red socks) in Boston? What is the price inChicago?b. Which city has an absolute advantage in theproduction of each color sock? Which city has acomparative advantage in the production of eachcolor sock?c. If the cities trade with each other, which color sockwill each export?d. What is the range of prices at which mutuallybeneficial trade can occur?Imagine a scenic canyon, visited by many local people as well as tourists from beyondthe local area. Consider a scenario in which a mining company has proposed to the localauthority that it be closed to the public and put into the production of coal. Thinking interms of economics as a way of adjudicating the relative value of one use of the canyon overthe other, what would you need to know in order to make a comparison or assessment?What kinds of quantitative data would inform your decision, and where might they comefrom? What kinds of things might you need to know that are hard to measure? Once youhave listed the kinds of information and data that might be available to inform this decision, do you think it would be sufficient to making this decision, why or why not?
- GoupH 10 Jucpicane Who has the oabsolute advantage vn Coffee Production Inho has the absolute advantage in Suge Ppro duction Who has the Comparative aduantaçe CompeSеlесt а sресіfіс рrоduсt аnd sіmulаtе thе suррlу аnd dеmаnd funсtіоns fоr іt tо: (а) thе suррlу funсtіоn wаs lіnеаr; (b) thе dеmаnd funсtіоn wаs quаdrаtіс; (с) thе еquіlіbrіum рrісе wаs аррrохіmаtеlу еquаl tо thе рrісе оf thіs рrоduсt оn thе mаrkеt Wіthіn thе sресіfіеd mоdеl, fіnd: (d) thе еquіlіbrіum рrісе ?* ; (е) еlаstісіtу оf dеmаnd; (f) еlаstісіtу оf suррlу; (g) соndіtіоns fоr thе рrісе vаluе ? sо thаt dеmаnd іs еlаstіс; (h) аll ? vаluеs fоr whісh dеmаnd іs еlаstіс, іf аnу (hеrе уоu саn usе соmрutеr tесhnоlоgу). Intеrрrеt thе rеsults оbtаіnеd іn d, е, f, g, h іn thе соntехt оf thе sеlесtеd рrоduсt.1.Under what conditions is the production possi bilities frontier linear rather than bowed out? 2.Explain how absolute advantage and compara-tive advantage differ. 3.Give an example in which one person has anabsolute advantage in doing something butanother person has a comparative advantage. 4.Is basoute advantage or comparative advantage more important for trade? Explain yourreasoning using the example in your answer toQuestion 3..If two parties trade based on comparativeavantage an ot gain, in wat range mustthe price of the trade lie?.Will a nation tend to export or import goods forwhich it has a comparative advantage?
- The sccompanying hypothetical production possibilities tables are for New Zesiand and Spain. Esch country can produce spples and plums New Zealand's Production Possibllities Table (Millions of Bushels) Production Alternatives Product Apples 28 60 Plus 15 18 Spain's Production PossIblilties Table (Millions of Bushels) Production Alternatives Product Apples Plums 20 48 20 a. Plotthe production possibilities dsta for esch of the two countries separatejy. Show the tracling possibilities lines for each nation if the sctusl terms of trade sre 1 plum for 2 spples. Instructions: (I Use the tools provided, 'PPC NZ' snd 'PPC SP iplat 4 polnts esch) to drsw the PPC curves. (2) Use the tool provided, ToT, in esch diegram (elot 4 points esch) to draw the trading possibilities lines for esch nation. To earn full credit, you must correctly plot al points for esch Iine. New Zealand Spain Tools 140 Tools 120 TOT PPC s TOT 100 80 40 40 20 20 5 10 15 20 25 30 35 40 10 20 30 40 50 60 70 80 Plums (millions…A certain economy consibt ing of the two sectors of goods and servicessupports a defense system that consumes $90 billion wort h of goods and$20 billion worth of services from the economy but does not contributeto economic production. Suppose that 50 cents worth of goods and 20cents worth of services are required to produce $1 wort h of goods andthat 30 cents worth of goods and 60 cents worth of services are requiredto produce $1 wort h of services. ·what must the total output of theeconomic system be to support this defense system?Two countries, Korea and Vietnam, are engaging in international trade.They produce two goods: automobiles and cloth. We observe a relativeabundance of cheap labor in Vietnam and a relative abundance of capitalin South Korea. a. Assume that automobiles are capital-intensive and cloth are cheaplabor-intensive. Using the Hecksher-Ohlin theory, explain what willhappen in trade between these two countries, in terms of export andimport. c. Draw a graph that shows the above situation in South Korean economy with a P P F and two relative prices (one before trade and theother after trade). The quantity of automobiles (QAuto) is on thehorizontal axis and the quantity of cloth (QCloth) is on the verticalaxis.
- How did the U.S. emerge from World War Il as a superpower? O. Although the U.S. entered World War II late, it fought in two theatres, providing it with the largest footprint of any country during the war. And because combat did not occur on U.S. soil (with Pearl Harbor the exception), the U.S. emerged relatively unscathed. Growing tensions with the USSR over postwar borders made cetain that the United States would not retreat into isolationism after the war while the development of the atomic bomb cemented its place as the strongest military power on Earth. O. Because the U.S. entered the war late, it was more refreshed than any other country and was therefore able to engage in a swift and powerful offensive against the Nazis. FDR called for an invasion of Normandy within 6 months of joining the war and within less than a year had pushed Hitler's troops back to the Rhine. When American troops marched into Berlin, the Soviets were still defending Russia. Therefore, the U.S. came…You just got a job in Washington, D.C. You moveinto an apartment with some acquaintances. All yourroommates, however, are slackers and do not clean upafter themselves. You, on the other hand, can clean fasterthan each of them. You determine that you are 70%faster at dishes and 10% faster with vacuuming. All ofthese tasks have to be done daily. Which jobs shouldyou assign to your roommates to get the most free timeoverall? Assume you have the same number of hours todevote to cleaning. Now, since you are faster, you seemto get done quicker than your roommate. What sortsof problems may this create? Can you imagine a traderelated analogy to this problem?when selecting the lineup for relays, teams start with the slowest runner and finishwith the fastest. In Beijing 2008, Jamaica were the hot favorites to win the 4 X 100 since theUK and USA were disqualified in the semis. Moreover, Usain Bolt came into the lineup. Thisleft the Jamaicans to make a key decision: Which position should they run Bolt? Look at thesplits both Bolt and Asafa Powell had and mention which position each runner should havecome in in race time.