In a footnote to its 2018 annual report Hewlett Packard reported the following operating lease obligations (in $ millions): Year Amount 2019 9,919 2020 7,825 2021 6,774 2022 5,210 2023 3,756 After 2023 15,024 Calculate the present value of the operating lease obligations, assuming a discount rate of 5%.

Suppose that, on the basis of a nation’s production possibilities curve, an economy must sacrifice 10,000 pizzas domestically to get the 1 additional industrial robot it desires but that it can get the robot from another country in exchange for 9,000 pizzas. now consider the following statement: “through international specialization and trade, a nation can reduce its opportunity cost of obtaining goods and thus ‘move outside its production possibilities curve.’”