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Milton Friedman said the free markets are a necessary but not sufficient conidtion for political freedom. Which of the following events would support Milton's hypothesis?
a. Chile after the overthrow of Allende adopted free market reforms. They were initially carried out by the dictator General Pinochet, but eventually a democratic government was elected.
b. Sweden's democratic socialism is very effective.
c. China has adopted market reforms but at the same time the government is still authoritarian.
d. both a and c are correct.
The GDP is a total market value of final goods and services produced within a country over time. Why is this a reflection of this country's cost of living so varied making expenditures.
Monopolistic Competition- Consider a monopolistically competitive market with N firms. The following equations describe the demand, marginal revenue and cost for each firm.
q. pickles at the sour pickles ranch are picked either by labor or by a machine. labor can be obtained very cheaply -
Distinguish between the two types but knows the probabilities of each type. What would be the result in this market for loans.
Illustrate what happens when a cheaper product is offered due to Impact of Government Imposed Price Ceiling that is below the equilibrium price.
Discuss the relationship between the level of GDP and economic well-being. What factors of well-being are missing from the GDP? Is there a point where the GDP could increase to such a high level
Describe the economic status of South Korea. What types of economic activities are most prominent there? What factors have led to your region's growth or lack thereof?
CAFTA (Central American Free Trade Agreement) will lead to free-trade between U.S. and Central America. Suppose there are two factors: skilled and unskilled labor and U.S. is skilled-labor abundant. There are two goods: apparel and computers, and app..
Discuss the types of barriers to entry, and explain whether each type is likely to provide long-term monopoly power. What are the allocative and distributive differences between monopoly and perfect competition? What causes these differences?
The manager of Green Chemical Co. has been informed that this year’s production target Q for organic fertilizer (in millions of tonnes) is 20. The manager is asked to allocate the production across the company’s two plants. How should the manager all..
A lower price level in the United States affects the purchases of imported goods. Select all of the following affects of a lower price level in the United States on aggregate demand.
Home price escalation in the U.S. during 2005 fueled booms in:
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