Suppose russia and sweden each produce only paper and cars. russia can produce 8 tons of paper or 4 million cars each year. sweden can produce 25 tons of paper or 5 million cars each year. draw the production possibilities frontier for each country. both countries want 2 million cars each year and as much paper as they can produce along with 2 million cars. find this point on each production possibilities frontier and label it "a." suppose the countries specialize. which country will produce cars? show the equation you used to come to the answer once they specialize, suppose they work out a trade of 2 million cars for 6 tons of paper. find new consumption point for each country and label it "b".

Nominal gross domestic producta. is a measure of the overall level of pricesb. measures the value of final goods and services produced within the borders of a given country during a given time period using current pricesc. measures the value of final goods and services produced within the borders of a given country during a given time period corrected for changing pricesd. only changes when the level of output changes

What is the best definition of a conclusion?

Steele bicycle manufacturing company currently produces the handlebars used in manufacturing its bicycles, which are high-quality racing bikes with limited sales. steele produces and sells only 10,000 bikes each year. due to the low volume of activity, steele is unable to obtain the economies of scale that larger producers achieve. for example, steele could buy the handlebars for $31 each: they cost $34 each to make. the following is a detailed breakdown of current production costs: after seeing these figures, steele's president remarked that it would be foolish for the company to continue to produce the handlebars at $34 each when it can buy them for $31 each. calculate the total relevant cost. do you agree with the president's conclusion?