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Taking a long view of the US and other developed economies, we see with certain exceptions a more-or-less steady rate of growth in real income over the last couple centuries. Explain and discuss the mechanisms by which this has occurred, and contrast our experience with: a) the recent performance of many NICs (newly-industrializing-countries) in the last few decades; and b) the performance of many of the poorest LDCs (less-Developed-Countries).
Obtain the market clearing price and quantity. Under the assumption of profit and maximization , how much output should the representative firm produce?
What is the difference between the medium of exchange and the store of value? What is the difference between commodity money and fiat money?
Using a supply and demand graph, make one shift of wither the supply or demand curve to illustrate the likely result of this action.
At the end of 2002, the (1-year) interest rate was 1% in the U.S., and 26% in Argentina. Recall that at the same time, the spot rate for the Argentine currency was Peso 4.00/$.
Suppose that American households change their tastes such that they want to save more at every level of income.
Recently, a troubled bank borrowed $800 million from the Federal Reserve. Describe the impact this event had on the monetary base.
The questions posed are broad and open ended so be careful to allow yourself enough research and planning time.
Why might the existing firms in a cartelized industry prefer to be regulated by the government? What is the problem with common property resources?
Describe the Soviet Rapid Development Model
Answer the following questions as these general questions pertain to the specific issue selected.The questions that you will cover with respect to your choice of broad social issue in the paper are given.
What is the level of price, output, and amount of profit for an unregulated monopolist? Analyze the effect of regulation on the allocation of resources. Which situation is most efficient? Which situation is most likely to be chosen by government? ..
In the following list a number of well-known companies and the products that they sell. Which of the four types of markets (perfect competition, monopoly, monopolistic competition, and oligopoly)
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