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First, what does GDP measure? Even if we prefect the measure by correcting for price increaase, what does GDP really tell us? Is GDP a measure of the nation's economic health? Does the size of GDP of one nation realtive to another tell us anything about the relative success of each economy? Required minimum-1 page
Further, assume that the countries have similar resource endowments and that, initially, they are not trading with each other. Therefore, each of the countries has to produce both rice and tea for its citizens. Suppose that, in the no-trade situat..
Two suspects are arrested and charged with a crime. The police lack sufficient evidence to convict the suspects, unless at least one confesses. The police hold the suspects in separate cells and explain the consequences that will follow from the a..
Prince Sports wants to exploit a favorable trend-the dramatic growth in tennis participation. For example, a recent study by the Sporting Good Manufacturers Association notes that tennis participation in the U.S. was up 43 percent from 2000 to 200..
Find the comparative statics for an increase in the sales tax, namely y^s/s and p^s/s , and provide an economic interpretation of them. What is the economic interpretation of an increase in the parameter a? You might want to plot the demand functi..
Find the sample mean and variance of the Credit Score variable and find the sample covariance and sample correlation coefficient of Wait Times and Credit Scores.
Analyze the proposals for reform in the current K-12 system and determine which single proposal would be the most likely to succeed. Explain your rationale. evaluate the effectiveness of No Child Left Behind.
What number of drivers appears to be most efficient in terms of output per driver and what number of drivers appears to minimize the marginal cost of transportation assuming that all drivers are paid the same salary?
You put $20000 on deposit on your thirtieth birthday at 5 percent compounded annually. On your fortieth birthday, the account begins earning 6 percent. Then on your fiftieth birthday, it begins earning 7 percent.
A combination of low prices with strong competition by foreign competitors and so-called "legacy costs" of unions are cited as the primary reasons why so many steel companies are filing for bankruptcy. In 2002, as Brownstown Steel Corp.
What is the most common way modern labor unions use to raise wages? This will result in the fewest jobs lost if labor demand is elastic or inelastic?
Represent this economy using the AD/AS model and explain the model and what problem will occur in the economy if no fiscal policy is pursued? What fiscal policy tools could be used to combat the problem? ECOM4000
Will price be higher or lower under such an agreement in long-run equilibrium than would be the case if firms didn't collude. Even in firms in a monopolistically competitive market collude successfully.
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