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a. Does convergence property imply that a measure of dispersion of income per person across the economies will narrow over time?
b. Abosolute convergence held for US staes from 1880 to 2000. A measure of the dispersion of per capita income across the states declined for most of the period from 1880 to 1970. Dispersion did not change a great deal from 1970 to 2000. Can you relate these observation to your answer from question a?
c. we could that absolute convergence did not hold for a broad group of countries from 1960 to 2000. We did find that conditional convergence held for these countries. A measure of the dispersion of per capita real GDP across these countries shows a mild but persistent increase from 1960 to 2000. how would you account for this pattern?
Can you think of any reasons why? How would you describe the market structure of the world coffee market: is it competitive or not? Present your arguments.
If two goods are supplements, their cross price elasticity will be:
Why would nations favor fixed vs. floating exchange rates for their currencies? Why do some developing nations have a “fear of the float?
Certainly there is a market for violent gaming, but I wonder if there is an ethical line that companies chose not to cross. For example, there are presently several games on the market that allow players to rape women. And then there is the issue of ..
An energy company orders metric tons of liquid natural gas that is used at the rate of 1,000,000 metric tons per year. Delivery lead time has averaged 8 days. What is the economic order quantity (in metric tons)? What is the total holding cost for th..
Hamsung , Inc., a manufacturer of electronic appliances, estimated the unit cost of one of its products as follows: Material costs $ 63 Labor costs $ 24 Overhead $110 $197 The overhead cost is made up of $50 per unit variable costs and $60 per unit f..
Each can produce the next generation super computer for math (M) or for chip research. However, only one can successfully produce for both markets simultaneously. Find the Nash equilibrium (include the payoff in your answer), and elucidate why it i..
1. Which of the following approaches to understanding and predicting consumer behavior depends primarily on the knowledge and experience of a firm's employees and its suppliers?
Explicate why the cost structure associated with many kinds of information goods also services might imply a market supplied by a small number of large firms.
Explain how the following events will affect the demand for money according to the portfolio theories of money? demand: The economy experiences a business cycle contraction. Brokerage fees rise?, making bond transactions more expensive. The stock mar..
Microsoft appears to have a monopoly with over 90 %of the personal computer operating market. Why then would it not be charging a monopoly price
If Automatic stabilizers change the federal budget balance by $70 billion for every 1 percent change in real GDP growth, what will happen to the federal budget balance if the economy falls into a recession of -3 percent from a growth path of +2 perce..
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