. Consider an economy that can produce two goods, apples and blue jeans. Each worker can produce 3 units of apples or 4 units of blue jeans per week. Suppose that when this economy is opened to trade, the price of apples is $10 per unit and the price of blue jeans is also $10 per unit. Suppose as well that each consumer spends one quarter of his/her income on blue jeans, and that there are 1 million workers in this economy. a. Construct the budget line for a typical worker in this economy. Explain how you arrived at the value of intersection with each axis. b. What does this economy export under trade, and how much does it export of it?

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.