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Assume that a “leader country” has real GDP per capita of $40,000, whereas a “follower country” has real GDP per capita of $20,000. Next suppose that the growth of real GDP per capita falls to zero percent in the leader country and rises to 5 percent in the follower country. If these rates continue for long periods of time, how many years will it take for the follower country to catch up to the living standard of the leader country?
In many ways, courts are expected to be apolitical institutions of government. In what ways are courts, judges, and justices shielded from political pressures? In whats ways are they vulnerable to political pressures? Are the courts appropriate place..
Why US banking system is known as fractional Reserve? Why modern ban king systems are known as fractional reserve? What are the characteristics of frictional Reserve banking?
The demand curve facing a monopoly firm is given by the equation P = 1000-5Q. The firm produces at a constant marginal and average cost equal to $100. Using this information, calculate: The profit maximizing quantity; the profit maximizing price; tot..
_causes an increase in the quantity of apples demanded.
Predict one major change in managerial accounting that may likely occur within the next 10 years.
Why do economists argue that an emissions tax is a more efficient way to reduce pollution than an environmental standard?
What impact would you expect this increase in the gap in living standards between the richest and poorest to have on income elasticity today? Briefly discuss.
q. the performance by patrice pbp company purchased a centaur computer controlled manufacturing milling machine for
You received a check from the bank for $18000. You know $7000 was deposited when you turned 1. Using your current age (please state it), what was the effective annual interest rate? What is the nominal rate if it was actually compounded semi-annually..
Within the balance of payments, if the current account has a deficit of US$2.2billion, the capital account
Describe how the Federal Reserve is able to control the federal funds rate fairly closely and why this enables the Federal Reserve to have such good control over ALL short-term money market interest rates. Refer to changes in the Federal Reserve's ba..
If it causes output to increase by more than 10 percent, production function is said to exhibit increasing returns to scale. Why might a production function exhibit decreasing or increasing returns to scale.
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