Econ505-01
Fall 2010
Answer Key for Homework #2
Aggieland has only one resource (labor) to produce two goods (corn and beef). A total amount
of available labor in Aggieland is 5 units. Aggieland must allocate the labor resource in two
industries to produc
Chapter 3 Notes
8/21/2012
Sakano
Chapter 3 Notes
Increasing Opportunity Costs
A nation must give up more and more of one commodity to release just
enough resources to produce each additional unit of another commodity.
Increasing cost production possibi
Econ505-01
Fall 2012
Answer Key for Homework #3
a. Demand & supply of Shoes and Airplanes
For shoes, China can produce up to 800 units at price of 1/2, then, in addition the U.S. can
produce up to 600 units at price of 4/3 (total of 1,400 units in the wor
Econ505-01
Fall 2012
Answer Key for Extra-Credit Homework #B
Aggieland has only one resource (labor) to produce two goods (corn and beef). A total amount
of available labor in Aggieland is 5 units. Aggieland must allocate the labor resource in two
industr
Econ505-01
Fall 2012
Answer Key for Homework #2
Production
Possibilities of the
U.S.
Shoes
600
450
300
150
0
Production Possibilities of China
Airplanes
0
200
400
600
800
Shoes
800
600
400
200
0
Airplanes
0
100
200
300
400
a. Output per labor in two count
Econ505-01
Fall 2012
Homework #3
Due: 11:30 AM on September 5 (Wednesday)
20 Points in Total
Instruction
1. You must type all of your answer, including tables and computation! For diagrams, you
may use Word (Drawing tool), Excel, or any graphic editor, or
ECON201
Worksheet for Production Possibilities Frontier
Aggieland produces two products, cell phones and DVDs, by using its labor resources. The table below shows
quantities of each product that Aggieland can produce for given allocation of labor resource
Gregory Hill
ECON 505
Chapter 1 Notes
Fall 2012
A globalizing world provides opportunities and challenges to nations and people
in the world.
Flow of goods and services
Flow of labor and jobs
Flow of financial instruments, currency
Three periods of r
ECON201
Worksheet for Production Possibilities Frontier
Aggieland produces two products, cell phones and DVDs, by using its labor resources. The table below shows
quantities of each product that Aggieland can produce for given allocation of labor resource
ECON201
Worksheet for Production Possibilities Frontier
Aggieland produces two products, cell phones and DVDs, by using its labor resources. The table below shows
quantities of each product that Aggieland can produce for given allocation of labor resource
Chapter 2 Notes
Sakano
Econ 505
8/17
Chapter 2 Notes
Mercantilism
Economic philosophy in 17th and 18th centuries, in England, Spain, France,
Portugal and the Netherlands.
Belief that nation could become rich and powerful only by exporting more
than it
Econ505-01
Fall 2010
Answer Key for Homework #4
a. Demand & supply of Cloths and Cars
The mutually beneficial trade between the two countries are possible when the relative price of
Cloths is between 1/2 and 4/3 and the relative price of Cars is between 3
Econ505-01
Fall 2010
Answer Key for Homework #3
Production Possibilities of the U.S.
Cloths
Cars
600
0
450
200
300
400
150
600
0
800
Production Possibilities of China
Cloths
Cars
400
0
300
50
200
100
100
150
0
200
a. Output per labor in two countries.
U.S
Gregory Hill
Land of the Free?
Econ 401
February 19th 2011
Introduction
America is the land of the free, a place where individuals have freedom of speech,
freedom to bear arms, and freedom to make their own decisions. Responsibilities such as taxes,
socia
Econ505-01
Fall 2010
Answer Key for Homework #6
a. According to the production possibilities table above and the production possibilities frontier
diagram at the end of this assignment sheet, China has an absolute advantage in production of
clothes becaus
Econ505-01
Fall 2010
Answer Key for Homework #5
a. Four combinations of apples and bananas that provide utility of 6.
Apples
QA
1
2
3
6
Bananas
QB
6
3
2
1
Utilities
U
6
6
6
6
Six combinations of apples and bananas that provide utility of 12.
Apples
QA
1
2
Econ505-01
Fall 2010
Answer Key for Homework #3
Production Possibilities of the U.S.
Cloths
Cars
600
0
450
200
300
400
150
600
0
800
Production Possibilities of China
Cloths
Cars
400
0
300
50
200
100
100
150
0
200
a. Output per labor in two countries.
U.S
Gregory Hill
ECON 401
Insurance Debate Theory
The government should not make health care mandatory. There are several reasons to
show that this is the case. First, the health care market deals with the problem of adverse
selection. Adverse selection is th
Gregory Hill
Econ 401
Insurance Debate Theory
Literature Review
The topic of mandatory health insurance is a discussion among the citizens of the United
States. The main concern, or question, about this topic is Is mandatory health insurance
constitutiona
Group 1
Public Finance
April 28, 2011
Theoretical Justification
The idea of government intervention in the healthcare system is a slippery slope
to slide down. It is encompassed by the potential for moral hazard to exists, ethical dilemmas to
be faced, an
Econ505-01
Fall 2010
Answer Key for Homework #2
Aggieland has only one resource (labor) to produce two goods (corn and beef). A total amount
of available labor in Aggieland is 5 units. Aggieland must allocate the labor resource in two
industries to produc
Gregory Hill
Dr. Burkey
Econ 505
Econometrics
2/12/2011
Critical Analysis
A further analysis of determinants of Health Insurance Coverage written by
Richard J. Cebula is an article which uses several different factors in a study to find out
what factors
