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In "The Journal Of Economic Perspectives" published by the American Economic Association studied the concept of standard of living from 1800 to the present. They talk about health, birth rate, length of life, literacy, and politics. First, they talk about life expectancy. In England there was a change in 1871 and India 1945.
Fertility rates changed in England in 1881 and India 1967. The typical woman in the 1890's married in her teens or early twenties and spent 15 years in a state of pregnancy, today that that time is 4 years. Literacy, in India in 1950 19 % of the population was literate whereas today 82 % are literate. All these factors and more help in a nation's movement to a higher standard of living. Measured by per capita GDP.
Is there anything that is not take-in into account when measuring standard of living?
A company finds there is a sudden increase in the demand for its product. In the short run, it must operate longer hours and pay higher overtime wage costs.
If the rate of return earned on reinvested funds is 15 percent also the industry reinvests 40 percent of earnings in the firm, what must be the discount rate.
Suppose prices are determined as a simple mark-up over expected wages: p-w^e=a0-a1U Assume further that wages are a simple mark-up over expected prices: w-p^e=B0-B1U Use the equations above to show that when prices are different from price expectat..
Describe the neoclassical theory of economic growth. Then explain how the neoclassical theory is impacted by research about endogenous technological changes and increasing marginal returns.
Analyse and evaluate the argument presented in the article and the methodology used by the authors to examine the effects of inward FDI on local productivity. How far do their conclusions confirm or change any prior views you might have had based ..
Describe this mean that the area affected by the natural disaster has experienced economic growthIllustrate what are the seen effects and what are the unseen effects.
A firm produces output according to the production function Q=K^(1/2)L^(1/2). If it sells its output in a perfectly competitive market at a price of 10, and if K is fixed at 4 units, what is this firm's short-run demand curve for labor
When will the Fed want to raise the Federal funds rate? What is the ultimate effect on real GDP and the inflation rate from raising the federal funds rate?
Explain how can the concepts of game theory be applied to buying through ecommerce or a retail store. Can you show me an illustration.
Provide separate arguments to support your claims as to their slope, curvature, and the direction of increasing utility.
Consider an exchange economy with two goods, 1 and 2, and two consumers, A and B. The consumers are initially endowed with a total of unit of each good, i.e. w1 = w1A + w1B = 1 and w2 = w1B + w2B = 1.
Elucidate how these economic concepts can be used to address the firm's problems and opportunities.
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