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Although GDP per capita is the most commonly used measure of a country's success, many economists believe it does not give an accurate measure of a nation's economic well-being. Some studies have concluded that that GDP is not the best measure of well-being, and although it may be the best available on a timely basis, other factors need to be considered in addition to GDP to give a more accurate picture of economic well-being and the disparity of well-being between nations.
Clearly evalute at least three such factors that in your view should be included in the GDP calculations. Explain and illustrate how they will help to improve the GDP as a tool for measuring the well-being of a nation.
Illustrate what would be the effect of poor weather on the consumer surplus, producer surplus, deadweight loss.
Mexico also which being free to pollute gives industries in Mexico an economic advantage over those in the U.S. also Canada.
Store maximizes profits and the price elasticity of demand for milk is -2 for coupon users, what is the price elasticity of demand for non-users.
Why the government now levies a tax on this good of 200$ per unit. Is this a good policy or why not. Can you propose a better policy
Illustrate output quota q1 would the typical firm have to be limited. Explain how much would it like to produce.
Assume that an English worker can produce 50 bottles whisky every hour or 1 sweater every hour.
Elucidate how does the Demand curve faced by a monopolist differ from the Demand curve faced by a perfectly competitive firm.
Leadbelly Co. sells pencils in a perfectly competitive product market and hires workers in a perfectly competitive labor market.
Explain the replacement effect, which may cause monopoly firms to innovate less rapidly.
Analyze the current macroeconomic situation and its impact on Walmart and Starbucks. Explore in particular explain how the two companies' respond to the macroeconomic conditions in terms of their.
Elucidate how the strength of the economy as a whole could affect the marginal benefits also the marginal costs associated with a decision to purchase a home.
Use indifference curves to distinguish between income and substitution effects, using the above techniques explain why the demand curve slope downwards, What are the main criteria for designing a tax system, To what extent do you think the national..
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