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The GDP of any country can be divided into two kinds of goods: capital goods and consumption goods. The proportion of national output devoted to capital goods determines, to some extent, the nation's growth rate.
a. Explain how capital accumulation leads to economic growth.
b. Briefly describe how a market economy determines how much investment will be undertaken each period.
c. Consumption versus investment is a more painful conflict to resolve for developing countries. Comment on that statement.
d. If you were the benevolent dictator of a developing country, what plans would you implement to increase per capita GDP?
What discriminatory price does the monopolist set in market 2? Calculate the socially efficient level of widget sales in the US and in Europe. Calculate the monopolist's marginal cost.
Explain why an inverted (downward-sloping) yield curve may indicate that a recession is coming.
Firm A has developed a new product and must now decide whether to install enough capacity to produce either one or two units of the product. It expects production costs (including capacity building) to be C(q) = 8q + q2 and it estimates demand for..
These professionals might like to patent such schemes. Identify whether patenting a tax shelter is a legal possibility
Recall that the Lerner formula or condition states that (p-MC)/p = 1/E. Write down the profit maximization conditions for pj j=X,Y. Can you write down the Lerner conditions for the two products? Why is the formula different in this case from the u..
Suppose that a perfectly competitive consant cost industry if initially in short and long-run equilibrium. In general, what will be the effect of an increase of $10 per uni in varialbe coss on he short-run equilibrium price, the short-run industry..
Output 1 2 3 4 5 6 7 8 9 Variable Costs $35 75 110 140 175 215 260 315 390 a. Show AFC, ATC, AVC, and MC in a table b. Graph the AFC , ATC, AVC, and MC curves c. Explain the relationship between the MC curve and AVC and ATC curves.
Suppose that your rich uncle has $1,000,000 that he wishes to distribute to his heirs at the rate of $100,000 per year. If the $1,000,000 is deposited in a bank account that earns 6% interest per year, how many years will it take to completely dep..
A group of 20 doctors are considering forming a new medical group and have asked you to prepare a report on whether they should build a facility in an area within 30 miles of the downtown center of your 500,000 population city for $100 million dol..
Evren wants to go into the donut business. For $500 per month he can rent a bakery complete with all the equipment he needs to make a dozen different kinds of donuts (K = 1; r = 500). He must pay unionized donut bakers a monthly salary of $400 eac..
What is the United States' best strategy? What is Canada's best strategy? What is the outcome of this game? Explain.
Be sure to indicate the direction of change in Real GDP, the Price Level and the Unemployment Rate. Label all curves and axis for full credit.
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