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1."If country A has a higher level of real GDP per person than country B, then people in Country A must enjoy a higher standard of economic welfare than people in Country B." Is this statement true or false and explain your answer.
2. Explain the relationship between real GDP and potential GDP and between the unemployment rate and the natural unemployment rate as the economy moves through business cycle.
As an employee of World Bank you've been asked to research the needs of a country with a particular economic concern.
Why will resources specialize according to their comparative advantages. Explain why will this specialization increase production.
Elucidate how the steepness of the short run aggregate supply curve affects the government's ability to use fiscal policy to change real GDP.
During the 1990s, Western Europe experienced high rates of unemployment, while in the US, rate of unemployment remained far below natural rate.
Elucidate how the following factors will influence India's ability to compete in a highly competitive, rapidly changing global market place.
What do you know about focused Linux distributions? If nothing, what can you find out by searching the Web? By "focused" we mean distributions that exist primarily for a specific purpose or set of tasks (e.g. security, penetration testing, backup,..
In the Ricardian model, everyone seems to benefit from trade. However, the Heckscher-Ohlin model seems to show that some lose from trade as well. Who are the losers in the HO model and how do they not benefit from trade
Mbank has deposit liabilities of $100 million. It only keeps the minimum cash reserves required by law of 10%. Its annual costs (wages, rent, utilities, etc.) are $2.5 million. What is Mbank's profit when it charges 7% annual interest on its loans, a..
Illustrate what role does economics play in your personal and organizations decisions. Give an example of the role of economics in decision making.
Total production (TP) and the level of natural real GDP (NRGDP) for a hypothetical economy are represented on the graph that follows. When real GDP is $525 billion, consumption is $420 billion, government purchases are $75 billion, and investment is ..
You are asked by the business editor of the Yuk Gazette to predict the events of the next few months. By using the data given, make a forecast. (Assume that investment is constant.)
All of the firms will submit sealed bids. The procurement officer will look at all of the bids and select the lowest bid but pay to the lowest bidder a price equal to the price bid by the second lowest bidder. Show that bidding c is a weakly domin..
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