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The United States, with about 300 million people, accounts for about 5% of the world population, but it accounts for over 20% of the world GDP and consumes over 20% of global resources. This means, on a per capita basis, Americans consume more than most of the rest of the world. Many say this is unsustainable. The optimists say a rising tide raises all boats, which means as global GDP grows, standards of living will grow for all. The pessimists say it is a zero-sum game, and as the rest of the world grows, the developed world will lose.
What do you think? What is your future global economic and business outlook? Support your thoughts with critical thinking and facts, not just emotion.
In 2004, Congressman Dennis Kucinich proposed the Free Market Drug Act. This legislation would have removed patent protection on drugs developed with public funds and given control over pharmaceutical R&D to the National Institutes of Health (NIH). E..
What is the difference between financial investments and accounting investments? You also need to provide an example of each for both individuals and corporations.
Explain why does price equal marginal revenue for the purely competitive firm. what is the relationship to the demand curve for the firm.
What is the difference between actual unemployment rate and natural rate of unemployment? In an economy, 5% of the employed workers lose their jobs and 20% of unemployed workers find jobs during the FY 2015. Calculate the natural rate of unemployment..
The short-run production function for a firm in the business of calculator assembly is given by q= 2√L where “q” is finished calculator output and “l” represents hours of labor input. Find the profit-maximizing level of labor. What is the short-run s..
Which of the following is a key element of the Cournot model?
Choose a product from the list. Name and describe the product category below. What types of products are included? Breakfast Cereal,,Dairy products, Footwear, Fruits and Vegetables (canned, pickled and dried) Household cleaning products, Household co..
Assume that: mpc=.6 Using the multiplier, calculate the change in GDP that results from a reduction of $80 billion in Investment, under all the standard assumptions. Illustrate this shift using the Investment Demand Curve and the Investment Schedule.
Two Developing Countries with two Different international Economic Results: A Comparative study of chile and Bangladesh. Make note of how the article deals with economic theory: do you think it lacks sound economic theory?
Calculate the present value of an annuity with annual deposits of $10,000 at 7% for 10 years. Determine the monthly payment to amortize a $250,000 debt at 3% for 30 years.
Let us suppose that market demand and supply are represented in the following equations: What is the equilibrium price and quantity? What is producer surplus? What is the consumer surplus?
If a country is absolutely more efficient than any other country in producing everything, then it would
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