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1. Explain 5Es of
2. Write about three linked models of macroeconomics.
3. How has COVID-19 pandemic impacted each of these 5Es in the short term, medium term and long term
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- Lcom/:w:/g/personal/swhite2_bu_edu/EV8wKQXB9QdNvQPbGJ6pm9cBdWPipCeu9s0GwUQJy8aG0g?e=sL5u4x SM131 Course P SM132 & EC102 P... P PIAZZA BU Healthway Wallstreetbets Fantasy Bbal| Discover Login practice final 1 For questions 50 and 51 the table below showing the input costs of making bread and cheese might be helpful. Assume that that costs are constant and that England and Spain each have 40 hours available to make food. Labor Hours Needed to Make 1 Unit of Bread Cheese Spain England 1 12 50. England has a comparative advantage in the production of a. neither good and Spain has a comparative advantage in the production of both goods. b. cheese and Spain has a comparative advantage in the production of bread. c. bread and Spain has a comparative advantage in the production of cheese. d. both goods and Spain has a comparative advantage in the production of neither good. 51. At which of the following prices would both England and Spain be willing to trade with each other? a. England and…5. What are the key assumptions required for instrumental variables to be a valid technique for addressing endogeneity?.1. MACROECONOMICS
- 1. Explain the difference between micro economics and macroeconomics. 2. Demonstrate an understanding of the coordinate system by using it to outline the relationship between economic variables.Explain 5Es of macroeconomics. Write about three linked models of macroeconomics.7. Models: Apply the supply-and-demand model to the following markets. In each case, state the key endogenous variables in the market as well as some important exogenous variables or parameters. Also, express each model as a system of mathematical equations. As an example, Q = F(P, X) might be the demand curve in the computer market, where X captures some exogenous variables like the availability of the iPad or computer games. How many equations are there within each example? How many unknowns? 1. The computer market. 2. The market for your favorite music. 3. The market for a particular currency, such as the dollar, the yen, or the euro. (Hint: This last example suggests an important point about "exogenous variables": what is exogenous in one model, as in a narrow study of the supply and demand for dollars, may be endogenous in a richer model-like a study of the entire U.S. macroeconomy.)
- 6. Write four differences between Microeconomics and Macroeconomics?Please help me with this macroeconomics question! 6b. Is the World heading for a recession? Explain the conditions under which the world can be classified as being in a recession as COVID-19 persists. Explain linking the pandemic to the various stages of a recession.
