1.Consider two countries (Home and Foreign) that can
potentially produce 3 different goods
(A, B, C) using only labor with the following labor requirements (hours
required to produce one unit of the good):
A B C
Home 15
10 34
Foreign 5 2
17
Assume free
trade is possible with no transportation or other costs. If the wage rate in
the Home country is 25% of the wage in the Foreign country… :
which goods
will be produced in the Home country?
Which goods
will be produced in the Foreign country?
Show how you
get the result.
2.Consider the following information regarding consumers
valuation and cost of
production of
a good. The first table shows you how much consumers value different units of
the good (the maximum price they would pay for the first unit, for a
second unit, etc.):
Value 12 11 10 9 8 7
6 5 4 3 2 1
Unit 1 2
3 4 5 6 7
8 9 10 11 12
So the first
unit has a value of 12 (some consumer is willing to pay up to 12 for that
unit), the
second unit has a value of 11, etc.. Consumers
will buy all the units that give them a value greater than or equal to the
price they pay: for example, at a price P=10, 3 units will be consumed. Consumers surplusis the value they get
minus the price they
pay: for
example, at a price of 10, consumers get a surplus of 2 from the first unit, 1
from the
second unit, 0 from the third unit consumed (we assume that in case of
indifference,
when the surplus of a unit is 0, they still buy it).
The second
table shows the marginal cost for domestic firms of producing each
additional
unit (the minimum price at which they would supply the first unit, the
second,
etc.):
Cost 1 2
3 4 5 6 7
8 9 10 11 12
Unit 1 2
3 4 5 6 7
8 9 10 11 12
So the first
unit has a cost of production of 1 (some producer is willing to supply it at a
price of at
least 1), the second unit has a cost of production of 2, etc.. Assuming perfect
competition,
domestic producers will supply all the units they can produce at a cost
lower than or
equal to the price they can get: for example, at a price P=10, 10 units will
be supplied. Producers
surplusis the price they get minus the cost of production: for
example, at a
price of 10, producers get a surplus of 9 from the first unit, 8 from the
second unit,
etc. (0 from the 10th unit, but we assume that in case of indifference, when
the surplus
of a unit is 0, they still supply it).
Suppose the
country is a small open economy (so it does not affect the world price) and
under free
trade any quantity of the good can be imported at a price P0= 3.
a)
With free
trade at the world price P0= 3,
how many
units will be consumed in the country?
How much will
be domestically produced?
How much will
be imported?
b)
Suppose now
the government imposes a tariff t= 2 on each imported unit.
What will be
the price of the good in the country?
How many
units will be consumed?
How much will
be domestically produced? How much will be imported?
c)
The tariff
will generate gains and losses.
Where do the
gains and losses come from?
Who gains and
who loses?
Explain in a
few words whether the net welfare effect for the country as a whole is positive
or negative.
d)
Try to
estimate the net aggregate welfare effect in the following way.
Consider
first the units that were already bought from domestic producers before:
how does the
tariff affects consumers and producers surplus?
what is the
net welfare effect for those units?
Consider next
the units that are still imported:
how does the
tariff affects consumers and government surplus?
what is the
net welfare effect for those units?
Consider
finally the other units that before were imported but now are either bought
from domestic producers or not consumed anymore:
how does the
tariff affects consumers and producers surplus?
what is the
net welfare effect for those units?
So putting
together these three steps, how much is
the net aggregate welfare gain or loss from the tariff?
3.Consider a
country under a flexible exchange rate system. The economy is currently
producing at
its naturallevel of output, corresponding to a situation of equilibrium
in
the labor
market (where the real wage that firms are willing to pay, given their costs
and market power, is equal to the real wage that workers require, given their
alternatives and their bargaining power, to supply the current amount of
labor). The authorities are worried, though, about the unemployment rate, which
is relatively high, and are considering possible measures to stimulate the
economy and increase employment.
Suppose the
central bank adopts a more expansionary monetary policy and consider the
short-run effects of that policy:
a)
What would
happen to interest rates?
How would
that affect the exchange rate?
b) How would
the changes in interest rates and the exchange rate affect the aggregate
demand and
its components (consumption, investment, government purchases, net
exports)?
– How would that affect
employment?
b)
Would the effects discussed above be persistent beyond
the short-run?
In other words,what else would happen in the medium-run
as a consequence of those changes and
How would that affect the state of the economy (in
particular employment)?
d) Consider the same situation of the previous example,
but this time thinking of a
country maintaining a fixed exchange rate with another
major currency (and the country being small enough so that it does not affect
the economy of the other countries).
How would the answers to the same questions (a-b-c) about
the effects of monetary
policy differ?
Would an expansionary fiscal policy help in getting the
desired effects on
employment?
e) If we think more in a medium-long run horizon, what
kind of policies could help in
making employment persistently higher?
– Try to suggest at least two or three different types of
measures that would have a permanent positive effect on employment.
– Comment very briefly on how they would affect per
capita real income and what
difference (if any) would it make to have a fixed rather
than a flexible exchange rate.
Effective leadership can transform an organization and create a positive
/in Uncategorized /by JosephMany argue that the single largest variable in organizational success is leadership. Effective leadership can transform an organization and create a positive environment for all stakeholders. In this assignment, you will have the chance to evaluate a leader and identify what makes him/her effective.
Consider all the leaders who have affected your life in some way. Think of people with whom you work—community leaders, a family member, or anyone who has had a direct impact on you.
Write a 3–5-page paper in Word format. Apply APA standards to citation of sources.
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Is the velocity vector tangent to the streamline? Explain.
/in Uncategorized /by JosephAir flows downward toward an infinitely wide horizontal flat plate. The velocity field is given by V = (axi – ayj)(2 + cos cot), where a = 3 1/s , omega = TT 1/s , X and y (measured in meters) are horizontal and vertically upward, respectively, and / is in s. Obtain an algebraic equation for a streamline at t = 0. Plot the streamline that passes through point (x, y) = (2, 4) at this instant. Will the streamline change with lime? Explain briefly. Show the velocity vector on your plot at the same point and time. Is the velocity vector tangent to the streamline? Explain.
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Write a 1- to 2-page memo to senior management analyzing your findings and provide a recommendation for next year. What would you change based upon your analysis?
/in Uncategorized /by JosephIt’s important that managers understand how costs are reported on the company’s financial statements. Review the financial data for Anthony’s Orchards for the current year and compare the direct labor costs and direct materials to the previous year. Write a 1- to 2-page memo to senior management analyzing your findings and provide a recommendation for next year. What would you change based upon your analysis?
To prepare for your memo, use data from the Anthony’s Orchards website and compare and contrast the direct labor costs and direct materials.
Your memo should reflect the application of the material presented this week as well as anything from previous weeks and Required and/or Optional Resources.
A description of your recommendation, a rationale for why it is important, and a description of the consequences of not following the recommendation should be included in the memo
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Please formulate a two paragraph response
/in Uncategorized /by JosephQuestion
In the US, much of schools’ budgets comes from property taxes. Wealthier school districts will have larger budgets than poor school districts even if the poorer areas tax themselves at a higher rate. For example, if you live in an area where the average home price is $375, your property taxes will result in significantly more funds than if you live in an area dominated by sub-standard housing and a high number of rentals. The disparities will range from $3,500 a year in poor inner city areas to $16,000 or more per year per student in areas such as Great Neck, New York. There are some variations by state.
The Supreme Court has ruled that if education is provided, you cannot deny it to a person of the basis of race, gender, etc. However, they have ruled that equal protection does not mean equal quality. You are not guaranteed the same quality of education as others may receive in different communities.
Some critics have argued that inequities in education get in the way of our ability to exercise other rights guaranteed by the constitution (freedom of speech, right to vote, etc.). Do you think this is true? Please formulate a two paragraph response. Clearly reference materials listed below.
https://learn.umuc.edu/d2l/le/content/68551/viewContent/3558825/View
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Explain in a few words whether the net welfare effect for the country as a whole is positive or negative.
/in Uncategorized /by JosephConsider two countries (Home and Foreign) that can potentially
Consider two countries (Home and Foreign) that can potentially
Consider two countries (Home and Foreign) that can potentially
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The side surfaces of a 3-m-high cubic industrial furnace burning natural gas
/in Uncategorized /by JosephThe side surfaces of a 3-m-high cubic industrial furnace burning natural gas are not insulated and the temperature at the outer surface of this section is measured to be 110C. The temperature of the furnace room including its surfaces is 30C and the emissivity of the outer surface of the furnace is 0.7. It is proposed that this section of the furnace wall be insulated with glass wool insulation (k = 0.038 W/m.K) wrapped by a reflective sheet ( = 0.2) in order to reduce the heat loss by 90 percent. Assuming the outer surface temperature of the metal section still remains at about 110C determine the thickness of the insulation that needs to be used. The furnace operates continuously throughout the year and has an efficiency of 78 percent. The price of the natural gas is $1.10/therm (1 therm = 105 500 kJ of energy content). If the installation of the insulation will cost $550 for materials and labor determine how long it will take for the insulation to pay for itself from the energy it saves.
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“What is important in your elevator pitch?”
/in Uncategorized /by Joseph“What is important in your elevator pitch?”
Please respond to the following:
Watch the following Lynda.com videos from the video serious Giving Your Elevator Pitch with Todd Dewett:
“Benefits to an Elevator Pitch” (2:01)
“Making an Initial Connection” (2:43)
“Structuring your Pitch” (3:57)
Then, rank the following factors in order of importance when developing an elevator speech, and provide a rationale for your response.
Speech is confident, not arrogant
Use of positive and compelling words
Short in duration
General to the industry in question
Specific to the company’s mission and company’s values
Enter the forum to get started discussing the topic with your classmates. Respond to at least one (1) of your other classmate’s comments.
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providing every hour of broadcasting is equal to 10. In a competitive equilibrium the number of hours supplied equals:
/in Uncategorized /by JosephSuppose country exhibits a comparative advantage in the production of pineapple
Suppose country exhibits a comparative advantage in the production of pineapple
Suppose country exhibits a comparative advantage in the production of pineapple
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One of the difficulties of engaging in global trade is the constant shift in exchange rates. How much do exchange rates change over a 30 day period?
/in Uncategorized /by JosephDiscussion MGT Week 2
**Please use a generic business you are familiar with and complete the following tasks. please provide the business name and a point of contact.
1. Call or visit a local business that imports foeign goods. (Ex: a wince or specialty foods importer.) Ask the owner/manager about the businesss participation in global trade. Compile a list of advantages and disadvantages she or he cites. In what ways are these similar or different from the lists of your classmates?
2. One of the difficulties of engaging in global trade is the constant shift in exchange rates. How much do exchange rates change over a 30 day period? Research this by choosing 4 currencies and recording their exchange rates over the past 30 days relative to the U.S. dollar. The rates are available on the Internet at Yahoo Finances Currency Center: https://finance.yahoo.com/currency.
3. Choose a company and describe what effects the currency shifts you noted might have on this companys trade with each of the countries whose currency you chose. (Possible currencies: euro pound yen pseo. Possible companies: Caterpillar GE IBM Nestle Toyota)
4. Contact a local corporation and ask for a copy of its written ethics code. Would you classify its code as compliance-based or integrity-based? Explain. ( The community or investor relations office can usually provide thsi information probably online. Local companies include: Fidelity Liberty Mutual South Boston Savings Bank Digital Federal Credit Union Herb Chambers Autos BJs Wholesale Club.)
5. Think of a situation that tested your ethical behavior. What were your alternatives and what were the consequences of each. If you had known the 3 questions listed in the text would your decision have been different? Explain.
6. You are the HR Rep. Your company is about to have a layoff and you are privy to the list of people who will be laid off in another week on Friday. Your very best friend Jim also works in the company in another department and in reviewing the list to be laid off his name is on it. You and your wife socialize with Jim and his wife quite regularly. He and his wife are about to close on a new home next Monday. You know that this will impact their ability to buy that home. They are expecting their second child in about 3 months. You also know that Jim is quite emotional and if he knew about htis layoff he would confront his boss about it as soon as he found out. You also know that if your friend learns that you knew about his being laid off and did not make him aware of the situation you could lose a very good friend. In your position by its nature you have acess to a lot of confidential information about which you cannot reveal. You would definitely lose your position if you violate that confidentiality and it is found out. What would you do in this situation? Explain your reasons for your answer.
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Describe the air quality incident and highlight the unique attributes of this situation and why it is a public health concern.
/in Uncategorized /by JosephPUBLIC HEALTH
Assignment: Paper: Air Quality Control & Protection
5 pages not including title and reference page min 5 references APA format
Becoming familiar with the environmental health factors that influence air quality and the areas of responsibility for public health professionals in protecting it.
Instructions
For this assignment, you will prepare a paper on the environmental health functions and public health responsibilities related to an air quality control and protection scenario provided below.
Review the CDC website, and any other quality public health or academic resources, and think about how the core functions of environmental health are related air quality control and protection.
Scenario incident: (READ SCENARIO)
Construction Site Concerns: It has been reported by many residents and businesses located adjacent to a large new construction area that they are being inundated with dust and exhaust from the heavy equipment working on the site. It has been reported by residents that they are experiencing increased complications related to respiratory irritations, asthma triggers and other health concerns.
Your paper must include the following:
· A title page, in APA format.
· Section headers, in APA format, for each section below:
*Describe the air quality incident and highlight the unique attributes of this situation and why it is a public health concern. Explain the situational background and why a public health response would be warranted.
* Describe the potential human health effects of this incident, taking into account the unique environmental health factors that influence exposure. What challenges/barriers can you expect to face given this information?
* Analyze the core public health roles and responsibilities in responding to the event and how local, state and federal public health agencies may work together in controlling the air quality incident. Also, what other resources and/or partnerships may be needed to respond to this incident?
* Describe the specific public health and community protection procedures that you feel will best protect the community and why? Make sure to discuss at minimum, incident investigation, exposure assessment, hazard containment, and public information dissemination.
* Provide a summary/conclusion adequately closing the paper and finalizing your thoughts.
· Cite the sources within your text and be sure to follow APA format including headings and subheadings.
· An APA formatted reference list at the end of your paper
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