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Q1. Suppose we have two economies- let's call them earth and mars- that are identical, except that one begins with a stock of ideas that is twice as large as the other. A/Earth0=2* A/Mars0. The two economies are so far apart that they don't share ideas and each evolves as a separate roomer economy. On a single graph (with a ratio scale), plot the behavior of per capita GDP on earth and mars over time. What is the effect of starting out with more knowledge?
Q2. Calvin Coolidge once said that "inflation is repudiation". What might he have meant by this? Do you agree? Why or why not? Does it matter whether the inflation is expected or unexpected?
As a business owner making a final decision regarding the international aspects of a business decision, you may decide to set up a table with the risks and weigh their relative importance against the rate of return you foresee
When and where did modern economic growth first happen. What are the major institutional factors that form the foundation for modern economic growth. What do they have in common.
You can suppose any single peaked preference which you want and Characterize the equilibria of the model.
How should labour be allocated between x and y to satisfy the demands calculated in part.
Explain how many units of pork will the government be forced to buy to keep the price at $2.25. How much will the government spend in total.
The equilibrium quantity increase or decrease depends on Demand
How do the GDP per capita change after accounting for price indices. Why is it important to use price index adjustments.
Given your understanding of bond markets, what signals is the the bond market sending in response to the downgrade. Is this problematic.
the mainstream theory of the business cycle, is the most common source of reciession: a decrease in aggregate demand, a decrease in aggregate supply, or both.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
Given the demand and cost conditions, what price, output and profits result in the short run? What will happen as the firm moves from the short to the long run
The Texas Transportation Institute at Texas A&M University conducted a survey to determine the number of hours per year drivers waste sitting in traffic.
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