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Explain the difference between import substitution and export promotion as economic growth strategies for developing countries. Be sure to include in your response both the strengths (benefits) and weaknesses (risks) inherent in both strategies. Which strategy has China pursued in recent years? Is this strategy sustainable in the long run? Why/why not?
A new electric generation plant is expected to cost $43,250,000 to complete. The revenues generated by the new plant are expected to be $3,875,000 per year, while operational expenses are estimated to be $2,000,000 per year. If the plant is expected ..
The industries or sectors of the economy in which business cycle fluctuations tend to affect output the most are:
In terms of a firms MRP of labor, explain why the firm will only hire the next worker if that worker can make the firm money.
what is the size of the bank's actual reserves. Required reserves are 10 percent of transactions deposits under the assumptions of the simple multiplier formula, then eventually the money supply will increase by.
Define the term innovation. Then, research what you think is an example of an innovative product or service. Include the following within your discussion: What is your product, and why do you feel the product you have selected is innovative within ..
A pharmaceutical firm faces monthly demands in the U.S. and Mexican markets for one of its patented drugs.
Unemployment is one of the major concerns that people have in today’s economy, since losing one’s job can be one of the most devastating events a person can experience. But what do the numbers actually mean? What is the actual state of the economy, i..
All licensed drivers are required by law to purchase a minimum level of auto and motorcycle insurance (well, if they own either of the two). However, the vast majority choose to buy much more insurance than the required minimum. It’s also true that m..
1. The decline in marginal productivity experienced when input usage increases, holding all other inputs constant, is known as:
If the government were to make university attendance mandatory and subsidize tuition costs with tax dollars, how might this affect a nation's economic growth?
Explain the factors that weaken the case for the market sector, such as lack of competition, externalities, public goods, and poor information.
q1. why the short-run demand for gasoline is less elastic than the long-run demand when the price of gasoline rises
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