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1. Why did Chinese economic development stagnate from the fourteenth century onwards, in spite of initial conditions which seemed so promising?
2. Discuss the differences between colonies of settlement and colonies of occupation.
3. What were the characteristics of the international division of labour between rich countries and poor countries which evolved in the period 1870--1913?
Elucidate that specialization and trade can move both countries beyond their production possibility frontiers.
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?
The company claims that the investment will grow to 10 times the original investment over the next 20 years. The company allows you to invest $200 per month for the next 20 years in this activity. If, in fact, the original investment in Greece per..
a manager hires labor and rents capital equipment in a very competitive market. currently the wage rate is 6 per hour
The US economy borrowed heavily from the British in the nineteenth century to build a railroad system. What was the principal debt instrument used? Why did this make both countries better off?
Say Tom buys a new house for $300,000 and takes a mortgage loan equal to the full amount at 7 percent interest rate. We will assume that the home's value will increase at the rate of inflation. If the expected rate of inflation is 4% the home is expe..
Explain the cultural, political, and economic reasons behind these policies also explain the methods governments use to promote and restrict international trade
Describe three problems of using fiscal policy to achieve a precise level of GDP and why is frictional unemployment inevitable in an economy characterised by imperfect job information and non-zero job-search time?
If the local government can enforce a rent control law that sets the maximum monthly rent at $1500, will there be a surplus or a shortage, of how many units?
Explain why does the magnitude of price elasticity differ in a and b above, although the same set of price-quantity combinations are used to compute the price elasticity of demand
Petra borrowed $12,500 thirty months ago from a lender who charges interest of 4.05 percent compounded monthly. She wants to borrow $10,000 more today. The original lender will not increase her loan, so she has found a new lender
The average weekly earnings of bus drivers in a city are $950 with a standard deviation of $45. Assume that we select a random sample of 81 bus drivers.
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