Note: same information for questions 20-25, except where otherwise noted. A small country is engaged in free international trade with a large country. There are two sectors (goods): sector (good) x and sector (good) y. There are three factors of production: labor, which is perfectly mobile across the two sectors; land, which is specific to good x; and capital, which is specific to good y. The solid lines of the following figure represent: Px MPLx for the small country as a function of Lx, measured from origin O; and Py MPLy as a function of Ly, measured from origin O*. The length of the base of the figure is L=2000, the total units of labor in the country. One unit of labor is one worker working for a year. The scale on the vertical axis is thousands of dollars. Note that each grid spacing on the horizontal represents 50 workers, and each grid spacing on the vertical axis represents 1 thousand dollars. NOTES:            – Ignore the dashed line until it is mentioned below. – Since this is a graphical question, some of the answers may be approximate! For all remaining questions in this group, suppose that labor can move freely from one sector to another. For the remainder of this group, suppose that the price of good y doubles, resulting in the dashed line, labeled P’y MPLy. After the price of good y doubles, approximately how much is the new wage in the country?

Note: same information for questions 16-19. The following figure shows the production possibilities frontiers of two countries, Home and Foreign (solid lines). They produce two goods, Oil and Cars. Also shown are two indifference curves for the Home country. When the two countries open up to free and costless trade with each other, the resulting price line for the Home country is also shown as the dashed line. The production point and the consumption point of the HOME country with free trade are:

Note: same information for questions 4-11, except where otherwise noted. The world is composed of two countries, Country A and Country B. They use labor to produce two goods, TV Series and Movies. All of the assumptions of the Ricardian Model hold. The following table shows the unit labor inputs used to make each good in each country, where one unit is one hour of labor. (Thus, for example, to make a TV series in Country A it takes 30 hours of labor, and so on.) Country A has 12,000 units of labor and country B has 24,000 units of labor. The two countries are engaged in free and costless trade. Country A Country B TV Series 30 5 Movies 6 2   Compute Country B’s opportunity cost of making TV series. Only exact answer is accepted. Use a decimal point if needed.

Trade between two countries, i and j, tends to be close to the gravity formula:  Tradeij = k (Yi Yj)/Dij, where  Tradeij is total volume of trade between the two countries, Yi is the GDP of country i, Yj is the GDP of country j, and Dij is the distance between the two countries. Consider the total trade between country A and country B, compared to total trade between country A and country C. Suppose that country C’s GDP is 8 times country B’s GDP. Suppose that the distance between country C and country A is twice (2 times) the distance between country B and country A. If the gravity model holds exactly, you would conclude:

Note: same information for questions 4-11, except where otherwise noted. The world is composed of two countries, Country A and Country B. They use labor to produce two goods, TV Series and Movies. All of the assumptions of the Ricardian Model hold. The following table shows the unit labor inputs used to make each good in each country, where one unit is one hour of labor. (Thus, for example, to make a TV series in Country A it takes 30 hours of labor, and so on.) Country A has 12,000 units of labor and country B has 24,000 units of labor. The two countries are engaged in free and costless trade. Country A Country B TV Series 30 5 Movies 6 2   Suppose there is free and costless trade between the two countries and that Country B does not gain by trading. Enter a reasonable world relative price of TV series in terms of movies (that is, a reasonable price ratio PTV / PM). Note: if the answer is an exact number, only the exact number is accepted; if the answer is a range, then any number within that range is accepted.

Note: same information for questions 4-11, except where otherwise noted. The world is composed of two countries, Country A and Country B. They use labor to produce two goods, TV Series and Movies. All of the assumptions of the Ricardian Model hold. The following table shows the unit labor inputs used to make each good in each country, where one unit is one hour of labor. (Thus, for example, to make a TV series in Country A it takes 30 hours of labor, and so on.) Country A has 12,000 units of labor and country B has 24,000 units of labor. The two countries are engaged in free and costless trade. Country A Country B TV Series 30 5 Movies 6 2   Note: the following figure is used in questions 7-9. The figure shows the Relative Supply curve of the two countries in international trade. Notation: PTV (PM) is the price of TV series (movies). QATV is the quantity of TV series made in Country A, and analogously for all other quantities. Enter the number Y, or enter 0 if not enough information is provided. Only exact answer is accepted. Use a decimal point if needed.

Note: same information for questions 4-11, except where otherwise noted. The world is composed of two countries, Country A and Country B. They use labor to produce two goods, TV Series and Movies. All of the assumptions of the Ricardian Model hold. The following table shows the unit labor inputs used to make each good in each country, where one unit is one hour of labor. (Thus, for example, to make a TV series in Country A it takes 30 hours of labor, and so on.) Country A has 12,000 units of labor and country B has 24,000 units of labor. The two countries are engaged in free and costless trade. Country A Country B TV Series 30 5 Movies 6 2   Country A has absolute advantage in

What first happens when an x or gamma ray interacts with and ionizes a molecule of water?  

Which of the following is a part of the limbic system that plays a vital role in learning and memory.

The golgi apparatus is the “powerhouse” of the cell.