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We have following data on Portugal. year 1960 2010 GDP (billions 2005 US$) 23.109 218.569 Population (millions) 8.107 10.676 Labor (millions) 3.393 4.909 Capital (billions 2005 US $) 55.221 888.273 The average annual growth rate of GDP is . The average annual growth rate of GDP per capita is . Suppose that the production function is Y = zK0.4L 0.6 . The Solow residual in 2010 is . % of GDP growth in Portugal can be explained by increases in TFP.
The price elasticity of demand for urban transit fares has been estimated to lie between -0.1 and -0.6. Based on these results, give an economic argument for raising transit fares. What political arguments might local governments and transit authorit..
mustard and mayonnaise are substitutes. mustard and relish are complements. mustard is a normal good. during the summer
Suppose a firm's Total Cost Function is: Identify: Fixed Cost, Variable Cost, Marginal Cost, Average Fixed Cost
Total consumer surplus can be measured for good X by:
Thinking like an economist can be helpful in your daily life. If you understand basic economic principles such as incentives, opportunities, and risks and rewards, you can make better decisions. Learning to view the world as an economist can also hel..
An article in Business Week warned of the dangers of deflation as the collapse of numerous Asian economies was creating worries that Asia might try to “export its way out of trouble” by oversupplying everything from automobiles to semiconductors. E
The elasticity of demand for alcoholic beverages is basically inelastic and when the government (State of Federal) increases taxes, the government tax revenue increases.
The United States and Canada want to work together to reduce air pollution near Niagara Falls (which is on the border between the two countries). One proposal is for the countries to reduce pollution by 100 tons each. Find the cost to the United Stat..
Why do some low-wage countries, such as China, pose a threat to manufacturers in industrial countries, such as the United States, whereas other low-wage countries, such as Haiti, do not?
Suppose the government intends the tax to reduce the consumption of some goods for example, cigarette or chewing gum. Illustrate what will determine the effectiveness of the tax in reducing consumption
Elucidate why would a system of marketable pollution permits leads to less costly pollution abatement and a higher concentration of polluted areas than a command-and-control system.
Formulate an empirical economics question that you or a potential employer is interested in answering. What is your economic model; what is the basis for your economic model? What is your econometric model, including a discussion of functional form. ..
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