1.Last year, a small nation with abundant forests cut down $200 worth of trees. It then turned $100 worth of trees into $150 worth of lumber. It used $100 worth of that lumber to produce $250 worth of bookshelves. Assuming the country produces no other outputs, and there are no other inputs used in producing trees, lumber, and bookshelves, what is this nation's GDP?

2.What are the benefits of weak national currency?

3.consider the following production function:$Y = F(A_KK,A_LL)$.Where: > K denotes capital, L is labor, and $A_K$ and $A_L$ denote capital-augmenting> and labor-augmenting technology, respectively. We assume throughout> that F is continuously differentiable, concave, and exhibits constant> returns to scale. Let $F_K$ and $F_L$ denote the derivatives of F with> respect to capital and labor. We focus on competitive labor markets,> which implies that the equilibrium wages is equal to the marginal> product of labor:$W = A_L F_L(A_KK,A_LL)$.Why? Shouldn't simply be:$W = F_L(A_KK,A_LL)$.Without the $A_L$ multiplying the derivative?

4.In the production function ***Y = C + I + G + NX***Does foreign investment in domestic assets (*i.e. foreign buying of domestic bonds*) - and vice versa - come under the Net Exports variable? Which denotation does domestic investment in domestic assets come under?

5.What is global macroeconomics

6.Suppose Two countries have identical demands for a product. Call it textiles. One is much better at producing Textiles. Suppose Demand is give as P = 40- (1/25) P The Supply Curve for Country A is P= 10 + Q/125 and for Country B it is P=10 +Q/375..

What are the Autarky prices and quantities on Both Counties?

show the Graphically.

What does Common Market Supply and demand look like (show Graphically)

7.Discuss the economic impact of mortgage arrears on households and banking sector

8.Describe economic benefits claimed for free trade

9.why has the GDP per capita of Ireland grown of almost 30% between 2014 and 2015?

10.When we talk about marginal cost and marginal benefit/cost, why does the equilibrium point is the most convenient for the production of a product. If the marginal cost and the marginal benefit/revenue are the same Wouldn't the cost of producing a product would be the same as the revenue you obtain from selling it? Wouldn't you be earring nothing when you reach the equilibrium point? Are marginal benefit and marginal revenue the same concept?