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Convergence
a. Explain the differences among absolute convergence, conditional convergence, and a reduction in the dispersion of real per capita income across groups.
b. Under what circumstances does absolute convergence imply a decline in the dispersion of per capita income?
draw a production possibility curve comparing the six hours that you have available every evening for studying or
How can heterogeneous production goods be included in a mathematically trackable intertemporal equilibrium constrution?
Remerowski Corporation Inc. asks you to estimate the cost to purchase a new piece of production equipment in the past for $10000 the original equipment had a capacity of 2,000 units, while the new equipment has a capacity of 1000 units.
Discuss the guidelines for developing an ergonomic program to reduce WMSDs in the former OSHA Ergonomics Legislation. Include management leadership, employee participation, hazard analysis, training, and program evaluation.
Assume a change in price causes the price elasticity of demand for a good (in absolute value) and marginal revenue to decrease. In this case we can conclude that the price of the good was:
You have won the lottery. There are two ways which you can receive your prize. You can either have 1 million in cash now, or you can have 1.2 million that is paid out as follows: $300,000 now, $300,000 in one year's time, $300,000 in two years' ..
Palm oil industry is rapidly growing in Indonesia and Malaysia. Both of these countries are the largest supplier of palm oil in the world. 90% of the total palm oil inventory is produced by these countries. Pakistan, China, India, European Union and ..
Give some examples of third-degree price discrimination. Can third-degree price discrimination be effective if the different groups of consumers have different levels of demand but the same price elasticities?
Economists have observed that spending on restaurant meals declines more during economic downturns than does spending on food to be eaten at home. How might the concept of elasticity help to explain this phenomenon?
Draw the impact of this illness on the equilibrium de?ned in exercise 5. How will it change his equilibrium allocation of earnings and labor-leisure?
your grandmother heard you were studying economic and decided to make use of your knowledge. she is selling her house and wants to know what price to ask for her well kept house in a growing neighborhood you need more information; what did it cost..
You are hired by the Chair of the Federal Reserve to manage the trading desk at the New York Fed and the Chair tells you that he wants you to increase the money supply (M1) by 33.33 percent. They warn you to be careful because in these uncertain time..
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