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Q1. Elucidate how do the GDP per capitals change after accounting for price indices? Explain why is it significant to use price index adjustments?
Elucidate how price index adjusts your nominal income?
Q2. Use the tools of economic analysis to support your answers.
1st recognize the taxes you currently pay. What do you think you pay your fair share of taxes? Why or why not? How would you conclude the notion of "fair share"?
2nd use your favorite search engine to examine the GDP annual growth rate of three countries. Which country has the major growth rate? Would you live in the country with the highest growth rate? Why or why not? Be specific.
Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage.
If policymakers want to reach full employment while maintaining balanced trade, what combination of monetary and fiscal policy should they use.
China has continued to lag well behind the rest of the world in information technologies
Elucidate the marginal revenue from the fourth worker
Substantive responses use theory, research, and experience or examples to support ideas and further the class knowledge on the discussion topic.
Proposals for modifications of the law are formulated by committees. Under the closed rule, the legislature may either accept or reject a proposed modification, but may not propose an alternative.
The government plans to rise state spending by $2bn in the next fiscal year.
Does the production technology exhibit increasing/decreasing/constant returns to scale.
Can the researcher say with a 0.05 level of significance that the proportion of children not completing primary school is more than 1%.
The overall effectiveness of the organ procurement system in the United States. What are its strengths and weaknesses.
Illustrate the expected total monetary loss under 4% of annual interest rate if this park is permanently closed this year.
Assume there are no other countries willing to trade goods, so when there is no trade between these two countries, each country consumes the amount of wheat and clothing it produces.
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