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Can you think of other common (not necessarily universal but widespread) characteristics of less developed countries not mentioned in the text? See if you can list four or five and briefly justify them.
(Referring to Economic Development by Michael P. Todaro & Steohen C. Smith).
Look at the JAL FX loss scenario in the Additional Text Readings where JAL lost as much or more in FX than the $800 million value of the planes it was purchasing. Then calcula
Suppose an individual consumers two goods, with utility function U (x1, x2) = x1 + 6sqrt(x1x2) + 9x2. Formulate the consumers utility maximization problem when she faces a bud
Explain how the aggregate supply and Phillips curves are related to each other. Can any information be derived from one that cannot be derived from the other? How do short- an
Suppose that you can sell as much of a product as you like at $92 per unit. You marginal cost (MC) for producing the Qth unit is given by: MC=10Q. If fixed costs are $350, wha
If an economy's productivity increases by 10 percent but the number of workers declines by 5 percent a year, how will the output change per year? (Round to hundredth percent
Store maximizes profits and the price elasticity of demand for milk is -2 for coupon users, what is the price elasticity of demand for non-users.
The FED is facing a problem of inflation. What policy should be used? How would each of the tools at the FED’s disposal be used? Be Specific 3. The FED is facing a problem of
The MC curve of a profit maximizing firm must increase and cuts its MR curve from above at the firm's maximum output. The MC curve of a profit maximizing firm lies below its M
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