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Convergence
a. Explain the differences among absolute convergence, conditional convergence, and a reduction in the dispersion of real per capita income across groups.
b. Under what circumstances does absolute convergence imply a decline in the dispersion of per capita income?
People are more likely to clean up waste in their homes than at a community park because people expect the community park to be dirty.
what is the short-run effect on the exchange rate of an increase in domestic real gnp given expectations about future
Draw the relationship of marginal social bene- fit and marginal social cost for the MCLG for lead, assuming it is set at an efficient level. Intuitively explain your model.
How would you mix those raw materials, according to national standards, to produce 1kg mixed feedstuff with least cost?
The country has entered a period of economic growth, but prices are rising too rapidly. To stabilize prices, the Federal Reserve decides to:
Explain what type of wage rigidity is most likely to affect the unemployment rates of the following types of workers: a. workers with low marginal labour productivity; b. workers seeking jobs that are typically unionized
Allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot?
Why is comparative advantage significant in international trade? Identify the exchange rate that equalizes the prices of internationally traded goods across countries and briefly discuss the major functions this exchange rate serves.
Normal 0 false false false EN-US X-NONE X-NONE Choose the correct price-el..
Describe the relationship between unemployment and real and nominal wages. Which is more important and why What effects would either an increase or decrease in unemployment have on wages
Calculate marginal pdf's of both variables and calculate the probability that Bobo has fun if Bobo studies economics.
Draw the effects of a recession caused by a decrease in aggregate demand. For simiplicity, assume that your economy starts at general equilibrium. Label your graph carefully.
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