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According to Feeny et al (2012), the following factors have contributed to the rise in South Korea's GDP in the last decades:
1. human capital
2. physical capital accumulation (Lee et al. 1994)
3. export expansion (Lee et al. 1994)
4. financial liberalisation (Kwack and Lee 2006)
5. country's capacity to quickly adapt to rapidly evolving technology (Kwack and Lee 2006)
6. ability to explore new opportunities (Kwack and Lee 2006)
7. the capacity of entrepreneurs and policy makers to adjust rapidly and flexibly to external shcocks
8. maintenance of relatively equitable income distribution (Harvie and Lee 2003)
Are these factors likely to improve all aspects of human well-being? Why or why not?
Does a positive savings rate mean that capital per worker will definately rise over time? Explain why or why not.
This in in regards to the great depression not the great recession.
Primary School education is often used as an example of an activity that generates positive externalities. Let's assume that in a particular country, all primary education is provided by the private sector and private demand is perfectly elastic at a..
Suppose that Hannah’s utility function is UH = 4C + 3T and that Jose’s utility function is UJ = 3C + 4T, where C is pounds of coffee per year and T is pounds of tea per year. Suppose there are fixed amounts of 28 pounds of coffee per year and 21 poun..
Why does the government have to regulate the pollution that is put into the environment? What type of externality is pollution and why is society not able to bring about equilibrium in markets?
Use the demand curve Qd x = 20 − 2px to complete the table below. Price of x Quantity |EQx,Px | Total Revenue 0 1 2 3 4 5 6 7 8 9 10 a. Solve for the marginal revenue curve that corresponds to the demand curve. At what quantity is MR = 0? b. On a dia..
BK Books is an online book retailer that also has 10,000 "bricks and mortar “outlets worldwide. You are a risk-neutral manager within the Corporate Finance Division and are in dire need of a new financial analyst. You are very impresses with the firs..
An electric utility is considering two alternative proposals for new sources of energy. One is a major hydroelectric dam (a 70-year project from construction to end-of-life); the other is a thermal power plant (a 35-year project from construction to ..
In 1982 you earned $32,000 and the CPI had a value of 92. In 2010 you earned $92,500 and the CPI had a value of 219. Between the two years the inflation rate was__ %. Your nominal income increased by __% and your real income increased by __%
Assume that you have $100 to spend on food and clothing. The price of food is $5 and the price of clothing is $10. Graph your budget constraint. Suppose that the government subsidizes clothing such that each unit of clothing is half-price, up to the ..
Was innovation accelerated or suppressed by the government monopoly granted to Fulton? Why? How did innovation change after the monopoly was broken? Give one or more examples of modern companies that are producing value in restricted markets, like Va..
Why might regulatory agencies utilize labor more intensively than private firms? What will happen to the regulatory share of employment if the rate of growth of regulatory employment stays five times higher than overall employment growth?
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