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One of the fundamental objectives of macroeconomists is to explain why some countries grow, while others do not. This is also an area of interest for development economists, who seek to determine the "secret ingredients" of growth. When we speak of "growth", we're referring, of course, to income growth; and as we've seen, so far, income growth is roughly synonymous with production growth, and both of these are represented by GDP.
Do you believe income/ production is a good measure of well-being? As a goal for development and as a measure of national well-being, what does GDP (income) leave out? Should a country meet additional quantifiable goals before being considered "developed"? Which countries today meet those goals, and why?
Analyze the characteristics which make any transaction possible and justify the importance of each of the characteristics.
Why does the loss in economic surplus directly experienced by the participants in the marketplace for s good
Define the equilibrium price and quantity.descibe the situation at a price of $10.00.what will occur.
What effect did the tax have on LeAnn's output level. How LeAnn's did profits change.
Suppose that MC=4q, where MC is marginal cost. The perfectly competitive firm maximizes profits by producing 10 units of out output. At what price does it sell these units.
If interest rates remain unchanged, what is the expected capital gains yield, stated as a percentage, over the next year for Bond A and for Bond B.
what is the opportunity cost of producing Toyotas in each country. Who has the comparative advantage in producing Chevrolets.
firm competing in a monopolistic competitive market. What conditions exist when economic profits are maximized.
explain how many smoothest sold by each firm, and illustrate what is the profit made by each firm.
Compute the contributions to GDP of these transactions, showing that expenditure also income approaches give the same answer.
Why does Michael Porter admonish companies will not change his competitive positioning any more regularly than once every four or five years.
Suppose the demand for loanable funds was stable but the supply fluctuated from year to year. Elucidate what might cause these fluctuations in supply.
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