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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).
Review the candidates’ tax proposals: Which tax plan(s) is/are proportional taxes? Which plans are the most progressive? Which plans have the same tax rate on income and capital gains? Discuss what principles underlie each plan?
If the price of good A decreases by 5% and the quantity demanded of good B increases 10.2%, find the cross price elasticity of demand. Are the goods substitutes or complements? Why?
if property rights are easy to assign and transactions costs are particular low, then
Suppose you manage a plant that produces engines by teams of workers using assembly machines. The technology is summarized by the production function Q = 4KL where Q is the number of engines produced per week, K is the number of assembling machines, ..
Gold cost $100 an ounce at the beginning of 1971. At the beginning of 2015, gold was $1200 per ounce. By what compound annual percentage rate has the price of gold increased over this period? State the answer as a percentage, to two decimal places.
You are considering two investment options. In option A, you have to invest $5,000 now and $1,000 three years from now. In option B, you have to invest $3,500 now, $1,500 a year from now and $1,000 three years from now. In both options, you receive f..
After cyclone Larry banana prices soared as high as $15 a kilogram, against pre-cyclone prices of closer to $2 or $3 a kilo. Explain graphically why banana prices went up after the cyclone
q1. given the choice between a1000 p 1.0 and b1200 p0.90 kathy prefers gamble a. does this mean she is risk averse?
If the price of X drops from $1 to 80 cents, and the quantity rises from 2,000 pounds purchased to 3,000 pounds purchased what can we say about the relationship between total revenue from the sale of X and the value of the price elasticity od demand?..
Suppose you contribute $10 per week ($520 per year) into an interest-bearing account that earns 6% a year (compounded once per year). That’s probably one less pizza per week! But if you contribute faithfully each week into this account, how much mone..
When the exchange rate falls, in the foreign exchange market the quantity demanded of the currency increases.
There is someone who we will refer to as B.B. who has just invented a wonderful new device for monitoring the effort level of employees. This device will take precise measurements of the effort of employees and the Department of Justice has certified..
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