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What do we call the historically recent phenomenon in which nations for the first time have experienced sustained increases in real GDP per capita?
The government often has two conflicting roles. It protects consumers by keeping prices fair and promotes a free market (entry of firms). Suppose your firm has a special patent. Do you think patent licenses should expire? Be sure to support your a..
What are the effects of an appreciating/depreciating exchange rate on the balance of payments? exchange rate on the balance of payments.
Explain the level of economic development of Egypt. Identify and explain the macro-political and economic changes that have occurred in Egypt. Describe the economic transition Egypt is going through? Are they moving forward towards a more market-base..
A profit maximizing competitive firm sells its product for $9. Its average total cost of producing this product is $10. The firm's profit maximizing output level is 10 units. How much total profit does this firm earn?
What are two or three methods currently being used to encourage economic growth for the typical company in Hong Kong and typical company in Singapore?
Distinguish between ongoing demand pull and ongoing cost push inflation. Carefully draw them. Why might it be difficult to establish the extent to which a given rate of inflation is either demand pull or cost push?
A worker in Equador can earn $3 per day making cotton cloth on a hand loom. A worker in the United States can earn $70 per day making cotton cloth with a mechanical loom. What accounts for the difference in wages? Any point on a country's productio..
What is business cycle? Describe the four phases of the business cycle. Where on the business cycle do you think the U.S. economy is today?
Describe the crowding-out effect of an increase in government purchases. Why does the magnitude of the crowding-out effect depend on how responsive interest rates are to increased government borrowing and how responsive investment is to changes in..
You are an Economist advising the Federal Government about the Australian Labour Market and issues relating to unemployment. The issues that you have been asked to report are: if the labour market is working properly why does Australia experience si..
Suppose that any money lent by a bank is always deposited in a checkable deposit and that the reserve ratio is 10%. The Fed purchases $100 million in Treasury bills.
On Tuesday nights, a local restaurant has a kid's meal special. Nina's son, Braden likes the restaurant's chicken nuggets, but Braden seems to be growing bigger every day and the kid's meal is usually not enough. The restaurant does allow for addi..
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