key questions 17, 18, and 22b

# key questions 17, 18, and 22b - Economics 3800 Expanded key...

• Notes
• 4

This preview shows pages 1–4. Sign up to view the full content.

This preview has intentionally blurred sections. Sign up to view the full version.

This preview has intentionally blurred sections. Sign up to view the full version.

This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Economics 3800 Expanded key for questions 17,18 and 22b 17. Suppose that you have a total income budget of \$150,000. The price of Coot-Aid is \$10 a case and donuts are priced at S a dozen. A. Depict this budget constraint‘on the diagram below. Be sure to incorporate appropriate unit on the x and y axes. M i “.5 Z ‘ ' in»)? a}: 2:“ ‘a 4.0“ 9f M'" {24% 3- <1 7'“ F *‘gi’rv o: ﬁts 5%“ i f 5’93??? em if is" ‘1" j ‘ it 9% i [q Mﬁ'mc i i it ' I " i; W, . i a .1 w: L i r“ \$6 ~eﬁdxo m; Wﬁwet We 6.57m. Elm is; Estitﬂéiéti “7 git-Qﬁﬁ WM“ if r - Inn—ath I . _, , i 351:; 0:30 xii; 2 i i r . , 4,. i t M. m mats} {ff-V2 533m? W M. £3 {jam '3» '9 M f g? ‘° 5' : atﬂstwesftm 14" a W Eootettg .. totesewe gimme? ewes? - ‘ Wimwmwmmiﬂ r .. 5 5-}; E 3 <53 C} 3i j m ' '5’: FE f?"‘ “M {a 5" n i H K ,ﬁﬁ. no pgi’ﬁé’: {trig / La" - V‘“ M Whﬁi tit r? 5;; .J j-‘m 2m '4WWMW.WWWMWHWMMWWW. , E W - i J _ g i. J. z to. What is the slope of the budget constraint? C: ‘M m,— (C; {yr ~«- #13“; d £52m fig/",1 0%“ Feed? 1' in: of? W.mmwm~-MWMW. if? or «so «3 4. ﬁx?: w W mwﬁtﬂ ‘ " 'v':-rwm.amm,,,. owl sag .. 18. A production possibilities frontier for the country of Passal is depicted below. Let each square represent one unit. ' '3 a. What is the opportunity cost of gaining one elephant if you are at point A. 1 k z » i i s . ‘ is 1%“ 5; a‘ Mia “\$133M i- 9“; E ages jigf'tﬂg’“: {r 5;? . d a: “ g, - - l Wﬂﬁrzw‘f,/ Egg "" " \$75} M; . "e E . \M t'ﬁiﬁ 3 “Sing”. Kt?»é§ﬁﬂ “5%., 3» “W a A it i a ' . .2 wittit‘t‘m. . 3% at e emit»? b. What IS the opportunity cost of gaining one eiephant if you are at pomt B? E . t " i a t g t “‘53 “rt pi W Jr: 4”)? {If ﬂ z . r H g it I} ‘ r A o ‘ ‘ V ‘ V . i _ W r“? mm W ties-"w Ewe - I 5:45?) 3%? m a E F i " hi . . K in is?” {ioﬁiwtimiw ﬂit mpg-M.) A: J? i‘ g Em." ‘4 W {gig/M it i c. Are opportunity costs constant with respect to this 9??? 7. i‘ ﬁnk i i “very gﬂ‘ifg twee} 3&0 4"”91 ” 051‘“; it; is-{wai ‘ J Wﬂ {'3 WAN WI 22. in 2013 Malaysia’s current account was 11,731,544,450 USD. b. How large was Malaysia’s current account in comparison to current levels of US GDP? That is, divide Malaysia’s current account by the approximate level of current US GDP. Q Q Mm mm WWW)“ l . . WW "’9 hM”"WWWWW> Mi W.“ I a ‘ #5.: m ‘92.. g" “L ; W fl: I . g C) {l {T} a 6:2 l ...
View Full Document

• Spring '10
• MICHAELRYAN

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern