College of Administrative and Financial Sciences Assignment- 1 Deadline: 24/2/2020 @ 23:59 Course Name: Macroeconomics Student’s Name: Course Code: ECON201 Student’s ID Number: Semester: II CRN: 20639 Academic Year: 1440/1441 H For Instructor’s Use only Instructor’s Name: Dr. Mohd Naved Khan Students’ Grade: /6 Level of Marks: High/Middle/Low Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). • Submissions without this cover page will NOT be accepted. Question: - 1(a). Should a nation tend to export or import goods for which it has a comparative advantage? Explain. Why do economists oppose policies that restrict trade among nations? (Minimum 500 words). (4 Marks) (b). Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day studying. (2 Marks) a. Draw Maria’s production possibilities frontier for reading economics and sociology. b. What is Maria’s opportunity cost of reading 100 pages of sociology? Answer:
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