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1.Economic growth ________.
is driven by growth of technology, growth of labor and growth of capital.
is driven primarily by digital technology.
is driven primarily by labor growth.
cannot be explained using economic models.
2.The per-worker production function is ________.upward-sloping. downward-sloping vertical. horizontal.
3. Within rich economies, there is strong evidence of convergence ________.for regions within a country. with developing economies. leading to military conflict. of capital stocks, rather than output
When do assumptions create in conjunction with economic theorizing have to become realistic? Can unrealistic assumptions provide useful outcomes?
Discuss the meaning of the regression coefficient of the independent variable(s) and how it could be used to estimate the elasticities of each of these variables. Discuss how managers use the elasticities measurements to make managerial decisions.
1. if there is a constitutional requirement to maintain a balanced budget then during a recession when tax revenues are
The Law of Large Numbers explains why it is unlikely that the actuarially fair premium for an insurance policy will be the same for a small start-up firm
Sometimes, a bidder on a work contract may bid lower than what would maximize his/her profit from the contract and the reason for that is to create goodwill (to increase expected future business from the buyer).
Suppose that there is a decline in the cost of a unit of capital. In the long run a.) What will be the substitution effect of this change on use of capital and labor, and why How would this be shown on an isoquant diagram (a diagram isnt needed, j..
You cat's summer kitty-cottage needs a new roof. You are considering the following two proposals and feel a 15-year analysis period is in line with your cat' remaining lives. (There is no salvage value for old roofs.)
Show what happens to producer surplus, worker surplus and the gains from trade as workers migrate from a low- wage to a high- wage region. What happens to wages and employment if the government imposes a payroll tax on a monopsonist? Compare the r..
What is the profit maximizing price and quantity of output for Ajax, assuming it is an unregulated monopoly? What are its profits?
1. governments in australia are concerned about the high level of house prices?using ideas of consumer and producer
A generous university benefactor has agreed to donate a large amount of money for student scholarships. The money can be provided in one lump sum of $12 million in Year 0 (the current year), or in parts, in which $7 million can be provided at ..
you have been contracted by an economic consulting firm to determine the economic structure and possible future actions
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