Edgeworth box Samenvattingen, Notities en Examens

F710347A - Publieke economie

INTERMEDIATE MICROECONOMICS 301 Latest Verified Review 2023 Practice Questions and Answers for Exam Preparation, 100% Correct with Explanations, Highly Recommended, Download to Score A+ Question One A Consumer’s utility function for goods X and Y is represented by: U(xy) = x2 y. Assume her income is Kshs 1,500. The prices of goods x and y are Kshs 4 and Kshs 10, respectively. Given this information:  What is the optimal consumption bundle (x y), given income and prices? (10 Marks) ...

SUGGESTED SOLUTIONS FOR MAY/JUNE 2015 QUESTION 1 1a. Consider the following baskets of goods: A B C If preferences satisfy all requirements, is A preferred to C or C to A? Explain your answer. Basket A has more food than basket C. Basket C has more clothing than basket A. Therefore, basket A and C cannot be compared without additional information. 1b. An island economy produces only two goods – coconuts and pineapples. There are five people (A, B, C, D and E) living on the island, w...

Chapter 4: Resources and Trade: The Heckscher-Ohlin Model 1. In the 2-factor, 2 good Heckscher-Ohlin model, an influx of workers from across the border would A. move the point of production along the production possibility curve. B. shift the production possibility curve outward, and increase the production of both goods. C. shift the production possibility curve outward and decrease the production of the labor-intensive product. D. shift the production possibility curve outward and decr...

Assume that labor is the only factor of production and that wages in the United States equal $20 per hour while wages in Japan are $10 per hour. Production costs would be lower in the United States as compared to Japan if A. U.S. labor productivity equaled 40 units per hour and Japan's 15 units per hour. B. U.S. productivity equaled 30 units per hour whereas Japan's was 20. C. U.S. labor productivity equaled 20 and Japan's 30. D. U.S. labor productivity equaled 15 and Japan's 25 units...

Alle grafieken nodig voor het tentamen Grondslagen en methoden Belastingrecht!

This document is a summary of the UCT ECO3020F Property and Exchange Module. The summaries cover lecture content and additional information from tutorials. The notes include graphs, mathematical equations and explanations. These notes are handwritten and colour coded for easy of use.

ECON 2001-1 Week 3 MidTerm Grade Details1.Question: In the Dornbusch-Fischer-Samuelson graph above, a uniform improvement in labor productivity in all the home country's industries would shift the A schedule and would lead to the export of a number of goods by the home country. Your Answer: upward; greater CORRECT upward; smaller downward; greater downward; smaller Points Received:2 of 2 Comments: 2. Question: The following Classical-type table shows the number of days of labor in...

File: Chapter 02 Test Bank Multiple Choice [QUESTION] 1. Welfare economics A. does not depend on market interactions. B. only looks at the poorest parts of the economy. C. examines the social desirability of alternative economic states. D. uses only concepts of efficiency to evaluate the alternatives. Ans: C Topic: 02-01 Blooms: Remember Difficulty: Easy [QUESTION] 2. The absolute value of the slope of the production possibilities curve is the A. marginal rate of substitu...

Exam revision notes for second-year microeconomics module