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Write an essay on any one of the following topics -about 2000 words
1. What do you think should be the 3 major macroeconomic goals of an economy? What policy mix helps government attain these goals?
2. How can we measure our nation's economic performance? What are the two different approaches? What factors make it difficult to calculate GDP accurately? How does GDP fail to measure economic welfare accurately?
3. Trace Canada's GDP over the past 40 years. Which years did Canada experience recessions? Categorise the recessions as short lived or prolonged. What were the causes for this difference? What policies did the country generally follow under these circumstances?
4. Compared to the United States, Canada's unemployment rate has generally been higher than that of the U.S. High light the reasons for this. What remedial actions can be taken to reverse this trend.
5. Trace the relationship between the US dollar and the Canadian dollar. What are the major factors that determine this relationship. Focus on the past 18 months when answering this question
Briefly elucidate how knowledge of price elasticity between different groups of customers
Depends on the data above, describe why public health officials generally advocate the use of cigarette taxes to reduce teenage smoking.
Elucidate the academic curriculum and dicuss the challeges confronted by scholars of the following areas of specialisation.
Find out the income elasticity of demand. Elucidate whether gas is a normal or inferior product.
suppose that you are an intern for a state legislature that is considering how to vote on a bill that would legalize marijuana. An economist has testified that legalization would decrease the price of marijuana by 80% in his estimation.
Given the products below and the events that affect them, indicate what happens to demand or supply, and the equilibrium price and quantity in a competitive market. Identify the determinant of demand or supply that causes the shift.
On January 1, 2007, Shaffer Co. purchased inventory for $1,000 cash. These goods were sold on April 30, 2007 for $1,400 cash. The company can currently earn 3% interest on an account at a bank.
The mean time an American family lives in a particular single-family dwelling is 11.8 years. A sample of 100 families in the Sycamore, OK area shows the mean time living in a single family residence is 12.7 years. Can we conclude that the time peo..
Illustrate the notion that people are rational respond to incentives consider an experiment conducted by researchers at St. Luke's Roosevelt Hospital in New York City.
Suppose that it is known that labor receives 25% of national income. With a Cobb-Douglas production function and an initial level of real GDP of $10,000, what happens to real GDP if both capital and labor double?
If there are n firms in the industry, find expressions for the competitive equilibrium price and quantity. What is the equation for how much each firm produces? What is the equation for the profit of each firm? [Hint: Your answer should be 4 algebrai..
Hinduism, Confucianism and Buddhism are three of the world’s great belief systems. Compare and contrast their impact on the societies that embraced them.
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