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"The rapidly growing East Asian economics used very different combinations of policies, from hands-off to highly interventionist. Thus there is no single East Asian model of development. This diversity of experience reinforces the view that economic policies and policy advice must be country specific if they are to be effective". Critically evaluate the position espoused in the above statement.
In the pen industry, a large number of firms produce differentiated products, and compete on quality, price, and marketing. They aren’t protected by laws or regulations. This market most closely resembles
What common assumptions guide the Thucydides and Procopius readings regarding how a historian should chronicle a plague? What different assumptions do they possess about both human behavior and the role divine forces play in human history? How do bot..
Suppose that the government imposes a temporary tari? on all imports, which makes imports more expensive relative to domestic residents (reducing the trade balance for any fixed level of the real exchange rate). Discuss the implications of this polic..
Construction contractors are the buyers of Portland cement, a key ingredient in concrete. Neither construction contractors nor their customers use much coal. Consider a supply and demand model of the wholesale gasoline market. If a tropical storm for..
What large macroeconomic event affected the performance of the economy in the past 10 years? Explain and analyze the event using the model of aggregate demand and aggregate supply (AD-AS model).
This exercise discusses properties of the Cobb-Douglas production function and its use in the Solow model.
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
Suppose that Omar’s marginal utility for cups of coffee is constant at 1.5 utile per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 10 for the first doughnut he eats, 9 for the second he eats, 8 for the..
According to your text, which of these is a major challenge that for-profit pharmaceutical corporations face in the future? A big problem a large portion of nursing home staff face is: The pharmaceutical industry is a complex system, with biomedical ..
Suppose a closed economy decides to lower taxes (assume Ricardian equivalence does not hold), all else held constant. What will happen to savings, investment, and the interest rate? Show graphically what happens (be sure to label curves, axes, equili..
Find the short run industry supply curve (or equation). Find the short run: price, industry output, firm output, and firm profit. What are the long run price(s) and quantity (ies)? Suppose the industry as in E above becomes a monopoly. Find the long ..
In the replacement analysis under various circumstances. Briefly summarize what your text calls Techniques 1 (Is Appropriate When Replacement Repeatability Assumptions Hold), 2 (If the replacement repeatability assumption holds, compare EUAC of the d..
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