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Country A and Country B have identical population growth rates of 1 percent per annum, and everyone in each country always works 40 hours per week. Labor productivity grows at a rate of 2 percent in Country A and a rate of 2.5 percent in Country B. What are the growth rates of potential GDP in the two countries?
what macroeconomic policies might you enact in response to these economic conditions? How would you expect these policy changes to impact the economy?
Suppose You have been employed by an unprofitable company to determine whether it should shut down its unprofitable operation.
Do you think internal labor markets enhance or detract from efficiency How might one argue that the realization of dynamic efficiency is more important that achieving static efficiency Do you agree
The following is the production possibilities for a firm. At 0 labor units (strangely enough), there are 0 units produced. At 1 labor unit, there are 10,000 units produced, at 2 labor units, there are 25,000 units produced, at 3 there are 45,000, ..
Poorer countries will eventually converge to the same income-per-capita levels of richer countries
Test the null hypotheses that the slope terms are individually insignificant using one-tailed t-tests using a .05 level of significance and evaluate the quality of the model.
Public administration can't exist outside of its political context. Describe how politics affects the policy making process and the delivery of governmental services.
Who bears the cost of import barriers protecting a job where the industry employing labor has lost its comparative advantage Consider the use of tariffs on steel imports into the U.S. during the recent Bush Administration.
Alfred Kahn, currently an economics professor at Cornell University, led the United States drive to deregulate airline industry as chairman of the Civil Aeronautics Board under President Jimmy Carter.
Build the time series for the Index of Openness (Export of Goods/GDP) using a spreadsheet and build the time series of Imports of Goods/GDP.
Entitlement programs affect the economy in many ways, yet they are considered by many as not being managed efficiently. Explain how you would improve some of these programs to ensure their effectiveness and ease of management.
Consider Bob, he washes his car by hand rather than taking it to the local car wash. When asked why he washes it by hand, Bob explains "you should never pay for something you can do yourself." Evaluate the validity of Bob's statement.
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