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1. Samuel Huntington observes that democracy:
Has come in waves throughout history
Is impossible to establish is certain regions
Can only develop effectively when developed gradually
Is the only viable option for economic growth
2. Traditional oligarchies, empires, monarchies and sultanates are all examples of:
Democratic regimes
Authoritarian regimes
Populist regimes
Socialist regimes
3. Which of the following is a type of authoritarian regime?
Totalitarian regimes
Theocracies
Personalistic dictatorships
All of the above
Development economists consider the phenomenon of child labor as an example of ‘bad equilibrium’. Discuss briefly any two alternatives to a complete ban on child labor.
The chart on the following page shows the average daily demand for tokens on a major urban rapid transit system. What is the elasticity of demand at a fare of $2.50/token? Is the revenue maximizing fare higher than, lower than or equal to $2.50/token..
Answers the business economics questions, Capital markets enable us to spend large sums of money that don't belong us. Would it be necessary to create an internal capital market if a firm was to be led by market-based management? Explain.
Calculate the government-spending multiplier in each of the following examples.
The scores of all applicants taking an aptitude test required by a law school follow a normal distribution with mean 420 and standard deviation 100. What is the probability that a randomly selected applicant will achieve a score of more than 450? Wha..
Illustrate what is the maximum amount your firm should be willing to spend on lobbying efforts to prevent the cost from being regulated at the socially optimal level.
Review Netflix 2013-2014 balance sheet, income statement, statement of stockholders' equity and statement of cash flows. Pay particular attention to sales and net income for the last two years. Comment on 2-3 items that you find remarkable on any of ..
Assume an economy that consists of consumers, government, business investors and an international sector. we will express this economy this way C+I+G+X=GDP Assume that the MPS is .3 How much can we expect the economy to expand if goverment increases ..
Suppose that you are the owner and operator of a perfectly competitive firm with the following total cost function.
Consider the following short-run production function: q = 5L^2 − 1/3L^3. Derive a marginal product of labor. Derive an average product of labor. At what level of L is the average product of labor maximized?
How would decreasing an import tariff on a good affect producer surplus in a nation that imports that good? In international trade, what is a tariff? What will occur if a nation opens itself to trade in a good and becomes an exporter?
The federal government recently announced intent to buy large numbers of Treasury Bonds. Explain how the federal government expects this to improve the economy. Compare this to other companies buying their own stocks. Make a prediction as to the succ..
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