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I studied PPE at Lady Margaret Hall college, Oxford University, and currently work as an Economics A Level teacher. I have also examined several different economic units for Edexcel AS and A2.
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Explain the effects of an unexpected increase in consumer’s Expenditure on GNP in an open economy with a government sector, using both keynesian cross and 45 degree diagrams.
Then explain the effect of the GNP change on
(I) the budget balance
(II) the trade balance
could you please help me on this question plzz. thanx
1. The following table gives how many identical resource units (ru) it takes to produce 100 cars and 5,000 computers in the United States and China.
United States China
100 cars 16 ru X
5,000 computers X 15 RU
Fill in the two blanks with a number for the ru that it takes for China to produce 100 cars and a number for the ru it takes the United States to produce 5,000 computers. United States having an absolute advantage in the production of both cars and computers but also shows that it does not pay for either country to trade with the other—neither country has a comparative advantage in the production of either good.
if a developing country has a comparative advantage in primary products,should the government allow market forces to dictate the pattern of trade?
Explain the effects of an unexpected increase in Consumers’ Expenditure on GNP in an open economy with a government sector, using both Keynesian cross and 45 degree diagrams?
could you please help me in this essaqy question thanks
Explain the effects of an unexpected increase in consumer’s Expenditure on GNP in an open economy with a government sector, using both keynesian cross and 45 degree diagrams.
Then explain the effect of the GNP change on
(I) the budget balance
(II) the trade balance
This question is about terms of trade between two countries in two goods, China and France, Cola and Chocolate. The following are opportunity costs for both goods.
Chocolate – China 2 cola; France 3 cola
Cola – China 1/2 chocolate; France 1/3 chocolate
Who benefits more at each of the following terms of trade?
2.25 cola per chocolate
2.5 cola per chocolate
2.75 cola per chocolate
I am curious, is it safe to assume that the terms of trade where each country benefits equally lies directly inbetween their respective opportunity costs? How do you calculate the net benefit for an individual country?