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Adam Smith wrote about the "invisible hand' and was in favor of free trade. Michael Porter wrote about national competitive advantage. Discuss how these 2 theories are related. State and explain your stance on free trade based upon your understanding and agreement/disagreement with these 2 theorists.
Select any research idea that you are interested. Write down a research question. For example, I am interested in the Salary of baseball players. My research question is "Does age determines wages of baseball players?"
Propose at least three methods that governments should employ to reduce their exposure to asymmetric information problems when attempting to identify entrepreneurial projects supported by public funds
price is greater than marginal cost and average total cost is not at a minimum. How would it be possible to ‘eliminate' this waste. What would we have to give up.
The key condition for equilibrium to occur in a market is: A. price should equal quantity. B. demand for one good should equal demand for all other goods. C. demand curves should equal supply curves. D. quantity demanded should equal quantity supplie..
Mitchell's income is $150, the price of X is $4, and the price of Y is $2. Given these prices and income, Mitchell buys 20 units of X and 35 units of Y. Call this combination of X and Y bundle J. At bundle J, Mitchell's MRS is 1. Given these prices a..
Analyze how inflation could occur in a society that relies exclusively on barter versus money. Speculate what form inflation would take and how you would recognize it. Provide support for your response.
Suppose that every additional 6.0 percentage points in the investment rate (I ÷ GDP) boost economic growth by 1 percentage point. Assume also that all investment must be financed with consumer saving. By how much must consumption decline for this to ..
The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction. Which of the following give the real value of a variable? Check all that apply. Which of the following give ..
Summarize Kuznets's Inverted-U Hypothesis and discuss the conceptual merits and limitaions of this hypothesis, especially in reference to African countries.
Halle describes “Third-worldism” as an automatic resistance to change among poorer countries to proposals that come from richer countries. What could be done to overcome this distrust?
Suppose a local bank increases the fees they charge for their bank accounts by 20 percent. In response, the demand for their bank accounts decreases from 50,000 to 45,000. What is price elasticity of demand for this bank's accounts? Using the midpoin..
Kath has $80 (income M) to spend on pizza (good 1x) and coke (good 2x). The price of a slice of pizza is $4 and the price of a can of coke is $1. If Kath buys only pizza, how many can she buy? Formulate the intercept-slope equation of Kath’s budget l..
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