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Vanyuwa [196]
3 years ago
14

Winners and losers from free trade Consider the market for meekers in the imaginary economy of Meekertown. In the absence of int

ernational trade, the domestic price of meekers is $33. Suppose that the world price of meekers is $25. Assume that Meekertown is too small to influence the world price of meekers once it enters the international market.a. trueb. false
Business
1 answer:
rjkz [21]3 years ago
5 0

Answer:

It is true that under those circumstances there are winners and losers from trade, or in this case, more specifically from the lack of trade, because the economy of Meekertown does not engage in international trade, and as a result, the consumers have to pay $33 for meekers, instead of paying a price closer to the world average of $35. The consumers are the losers, while the domestic producers are the winners.

If Meekertown opened up to international trade, consumers would be able to buy cheaper meekers produced aborad, which means that they would be the winners while domestic producers would be the losers.

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A consumer's weekly income is $250, and the consumer buys 12 bars of chocolate per week. When weekly income increases to $280, t
Vikentia [17]

Answer:

0.69

Explanation:

Given that we have the formula for calculating income elasticity of demand as the percent change in quantity demanded divided by the percent change in income, hence, we have the percent change in quantity demanded => 13 - 12 = 1 ÷ 12 = 0.083

the percent change in income => 280 - 250 = 30 ÷ 250 = 0.12

Therefore we have => 0.083 ÷ 0.12 = 0.69

Hence, the final answer is 0.69

6 0
2 years ago
The aggregate expenditures model assumes flexible prices true or false
Murljashka [212]
The answer to this is true
4 0
3 years ago
Read 2 more answers
Edwin is the HR manager at a customer care unit with approximately 1,000 employees. He wants to statistically analyze the servic
Gre4nikov [31]

Full Question:

Edwin is the HR manager at a customer care unit with approximately 1,000 employees. He wants to statistically analyze the service data to make the recruitment process more effective by identifying desirable and undesirable qualities of employees. Edwin observes a high positive correlation between the employees' ability to adapt and the turnaround time. However, he decides to avoid using this criterion when recruiting employees. Which of the following, if true, would MOST strengthen this decision to avoid the criterion

A) The statistical significance of the correlation was found to be sixty percent.

B) Another trait, honesty, had a higher correlation coefficient than employees' ability to adapt.

C) The sample size used by Edwin was significantly larger than what was required.

D) Multiple regressions were observed among the variables used for the analysis.

Answer:

The correct answer here is A)

Explanation:

The key to decision making using statistical research is <em>Statistical Significance.  </em>This means that a statistically significant observation is probably true. In this case, the statistical significance of his findings is 60%.

Cheers!

7 0
3 years ago
Kevin is excited because he has just signed an agreement to purKevin steel frames from a company at an excellent price and of ve
jekas [21]

Answer: C. is unreliable.

Explanation:

Kevin has signed the purchase agreement at fair price with good quality. However, the products arrived one month late which disrupted the production, it made Kevin feels that the <u>supplier is unreliable</u> because of the <em>unscheduled delay of steel frames</em>.

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2 years ago
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Hunter-Best [27]
The formula is
I=prt
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R=10.5%
6 0
3 years ago
Read 2 more answers
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