Consider the Specific Factors model with two economies (Canada and Saudi Arabia); two goods (wheat and oil); and three inputs: labor (mobile across sectors), land (specific to wheat) and capital (specific to oil). Suppose that preferences are identical, but Canadian productivity is higher in wheat, while Saudi Arabian productivity in oil. (a) Describe (graphically) the autarky equilibrium in both economies. In which country is the relative price of wheat, pW / pO , higher?

Which of the following areas provides residents with close access to high-paying jobs and cultural attractions? a. the suburbs b. exurbs c. rural areas d. the city 2b2t

On june 1 of the current year, chad wilson established a business to manage rental property. he completed the following transactions during june: opened a business bank account with a deposit of $28,000 from personal funds. purchased office supplies on account, $2,690. received cash from fees earned for managing rental property, $7,390. paid rent on office and equipment for the month, $3,310. paid creditors on account, $1,230. billed customers for fees earned for managing rental property, $6,130. paid automobile expenses (including rental charges) for the month, $740, and miscellaneous expenses, $370. paid office salaries, $2,330. determined that the cost of supplies on hand was $1,590; therefore, the cost of supplies used was $1,100. withdrew cash for personal use, $2,210. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300) answer

Within the relevant range, if there is a change in the level of the cost driver, then a. total fixed costs will remain the same and total variable costs will change b. total fixed costs will change and total variable costs will remain the same c. total fixed costs and total variable costs will change d. total fixed costs and total variable costs will remain the same