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Economics Final Exam
1. What are the differences between the neoclassical and structural evolutionary theories of economic growth? Articulate each theory clearly and point out the differences. What are the implications of looking at the long-run economic growth process using each of the theories? What roles do diminishing, constant and increasing returns play in these theories? What are the policy implications of looking at growth in these two ways? (Use diagrams, graphs and equations where appropriate.)
2. Why did the Industrial Revolution occur when and where it did and not elsewhere? What is your conclusion about the appropriate policy advice to give to economies trying to develop today?
3. Define technological complementarity. What is the difference among the concepts of technological complementarity, spillovers, externalities, combinatorics and concatenation? Explain why technological complementarities and uncertainty exist and what the implications of these are for the process of technological change and economic growth. How are the above concepts related to each other in the production of knowledge? What are the implications for thinking about economic growth processes with these factors in play?
How much of a shortage or surplus of gasoline would result? Calculate the effects of this policy in terms of the changes in consumer surplus and producer surplus.
thailand economynbspi am third year student at college of business finance. i have macroeconomic research paper about
If a regulatory commission establishes a price with the goal of allowing the firm a "fair return" what would be the price and output What would be the firm's profit or loss Which one of the prices in parts b,c, and d maximizes consumer surplus
The bonds are identical in every way (e.g. they have the same coupon payment, maturity data, etc.), except that A is "riskier" than B - i.e. you think the probability of full payment of principal and interest is lower for A than it is for B.
a. How would an economist explain the decline of the Alaska king crab fishery? b. Explain two programs you could institute to protect the fishery and still allow some crabbing again.
Campus Print Shop is assume of purchasing a new, modern copier that automatically collates pages. The machine would cost $22,000 cash.
Look at the table Variable Costs for Lawns. During the summer Alex runs a lawn-mowing service, and lawn-mowing is a perfectly competitive industry made up of 100 identical firms.
Suppose the market for autoworkers is in equilibrium when the automakers purchase capital goods to produce more fuel efficient automobiles and these capital goods are a substitute for workers. What happens in market for autoworkers?
M/P=kY – bi where k is the income elasticity and h is the (nominal) interest rate elasticity of real money balances. Assume that k > 0 and that h > 0. Further assume that the quantity of nominal money balances is fixed by the Bank of Canada at M and..
Assume that Florida migrant workers are effectively unionized. What will be the impact of unionization on?
For each of the following acts, provide a summary of the act, a real word example of how the act was violated, the role of the EEOC in and what the organization can do to ensure compliance with the act.
If the required reserve ratio is 10 percent, banks keep 2 percent excess reserves, and the public keeps a 10% cash to deposit ratio, determine the money multiplier?
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