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1. How would an increase in capital goods, holding the size of the labor force constant, help to make workers more productive and increase economic growth?
2. Explain how a technological advance can contribute to economic growth.
3. Why do institutions such as private property rights promote economic growth?
Elucidate how which any two pure strategy equilibria of a zero-sum game are interchangeable also equivalent.
Critics of this approach countered that a “zigzag path” that leads to new knowledge about economic phenomena or economic problems is clearly preferable to a “precise path” that leads only to endless refinement of what is already known. What is you..
Pick a good or service and illustrate its market with supply and demand curves. Explain what each curve represents and tell what (specifically) would shift each of the curves. A properly-labeled diagram of the supply and demand curves.
Outward Shift in the demand for capital occurs in an economic boom when increased construction of plants, buildings and other capital-intensive business activities requires huge outlays of investment. In this scenario, interest rates tend to rise alo..
What does the economy look like when the economy is in an unemployment gap? What type of unemployment rate is it compared to the Natural Rate of unemployment? What about inflation?
q.assume a consumer has preferences represented by the utility function uxy minx3y. assume px 1 and py 2. draw the
All parties make a single bid. But do not disclose the bid to peers. The organizer chooses the maximum (or minimum) bid as the winner. What are benefits of such a system as opposed to normal auction where bidders openly declare the bids and keep upda..
If most businesses in an industry are earning a 13 percent rate of return on their assets, but your firm is earning 23 percent what is your rate of economic profit
Which of the following can cause the usual OLS t statistics to be invalid (that is, not to have t distributions under H0)? Heteroskedasticity. A sample correlation coefficient of .95 between two independent variables that are in the model. Omitting a..
q.consider the following extended classical economy in which the misperceptions theory holdsad y 300 10mp.sras y ? p
illustrate what is the corresponding marginal cost function. at illustrate what o/p is AVC at its minimum.
Explain why the R-squared from the regression from F test will always be at least as large as the R-square from the BP regression.
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