February 12 - February 12, 2009 p94 article TABLE 1- for...

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February 12, 2009 p94 article TABLE 1- for IRON AND STEEL column 3 is amt of capital required to produce over a million dollars of product, divide column3 by a thousand, multiply that byy column 2 (235) . ..amt of capital required to expand production by 235. ==== 235.14/1000 * 1026.3 = 241.3 how much capital is in our exports and imports? took a representive bundle of million dollar export and broke it down. TABLE 2 - scientific instruments, p102 column 4 = in the 1mil of exports, 3,748 of those are identified as scientifc instruments column 5 = 65$ is identified as you need a 1.465 in order to produce a dollar's worth of instruments you need 266.625 man years worth of labor in order to produce a million dollars worth of scientific instruments. divide that by a mil, tells us how much man year's labor is required for just 1$ worth of labor Import replacements: Total K = 3,091,339 = k = 18,183.919 Total L = 170.004 marth l Export: Total K = 2550780 = k = 13,991.212 Total L = 182.313 l capital for imports exceeds our imports
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This note was uploaded on 02/08/2011 for the course ECONOMICS 101 taught by Professor June during the Spring '08 term at Rutgers.

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February 12 - February 12, 2009 p94 article TABLE 1- for...

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