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Question: Looking back at Table, how many years will it take the low- and middle-income countries to double their per capita income, assuming they continue to grow at the average annual rate which prevailed during 1970-2005? How many years will it take for the high-income economies to double their per capita income, using their average annual growth rate for 1970-2005? How long would it take Sub-Saharan Africa to double its income per person if it grew at the average annual rate which prevailed from 1970-2005?
(Hint: using the Rule of 70, the doubling time in years = 70/annual % change; in finance, the Rule of 72 is often used in the same way. In fact, the Rule of 70 gives a very good estimate of doubling for percentage rates of 5 percent or less. The Rule of 72 gives better estimates for percentage changes between 5 and 10 percent. If growth rates are negative, what is being determined is the time to halve a value, and for negative values the Rule of 70 is more accurate.)
Students often confuse a change or shift in demand with a change in the quantity demanded. Briefly describe the difference between the two. If you can, also provide an example.
What are the sources of human capital? Discuss some specific examples - what is the law of diminishing returns? Give an example of what the law of diminishing returns implies.
Develop a PowerPoint presentation to be presented to the CEO's executive committee that addresses how your chosen organization determines what quantity of labor to demand and what events could shift the demand and supply of that labor.
You are required to identify the intervention being applied or suggested and the objective behind the policy. Using demand and supply analysis, suggest the impact that this policy may have on the relevant market
Sammy considers 2 wooden pencils to be a perfect substitute for 1 mechanical pencil. The price of 1 wooden pencil is $2, and the price of 1 mechanical pencil is $3. Sammy has an income of $18. What is Sammy's optimal consumption bundle
The days of picking up a phone and calling to order a product is almost of heard of today. Today most ordering is done on line using new technology known as Electronic Data Interchange (EDI). Big distribution centers are using this technology to fil..
If the country whose production possibilities curve is on the curve at the bottom and wishes to move to a position further up on the curve, it will: Find this impossible to achieve given the resources it currently possesses.
A. Define each of the following: 1 Gross Domestic Product at Market Prices. 2 Gross National Product at Market Prices. 3 Gross National Product at Factor Cost. 4 National Income. B. Explain the relationship between Gross National Product at Market ..
Indicate which point could correspond to the equilibrium wage and quantity hired a. at the initial equilibrium. b. if the price of the output produced by the labor increased. c. if the price of the output produced by the labor decreased.
If the federal government enacts a tax on a monopoly, how would expect the additional tax to affect the following Output produced by the monopoly or else.
Engel curve for soccer tickets.
In the floating rate model, a change in the exchange rate is supposed to adjust NX(net exports), until the economy reaches an equilibrium state. However, evidence shows that the exchange rate adjustment process takes years.
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