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1. Explain the main difference between the consumer demand approach and the capabilities approach to welfare measurement.
2. Suppose your research team is measuring income inequality in the US over the past decade and decides to use the difference between the median and mean of the income distribution as a measure of inequality. What does the mean income lying to the right of the median income imply? Explain one issue with the use of this measure. When comparing the median-mean difference measure, the Gini coefficient, and the Mean Log Deviation measure - which do you think is the best measure of income inequality? Why?
3. Describe a government program that is paternalistic (a real-world example is preferred, but you may invent a realistic one). What is paternalistic about it? What are the costs that will be incurred by the government while implementing this paternalistic program?
4. Discuss two shortcomings of using Gross Domestic Product as the primary measure of a country's economic performance.
Gorton is HIV positive. He is also has severe allergies. The medication he takes to control the debilitating effects of his allergies causes his nasal membranes to dry out, resulting in frequent nosebleeds. Gorton sues based on the Americans with Dis..
Compare and contrast their growth strategies and policies outlining similarities and differences. And then critically evaluate ‘the Asian Model
In his book, Capitalism and Freedom, economist Milton Friedman argues the narrow view of corporate social responsibility for businesses
FNSINC601 - Apply economic principles to work in the financial services industry - Open Colleges - Calculate the Dividend yield each year
What is supply and demand. Illustrate what is the value of the tax revenue collected from the buyers. Why wasn't the government able to collect $12 per tire on 60 tires sold( the original equilibrium quantity).
Explain the various arguments countries used to justify the imposition of tariffs in context of Covid 19.
Explain how this reduced interest rate will transmit through the economy.
According to neoclassical theory, what is the process responsible for converting the qualitative usefulness of different commodities into a single, quantitative measure of demand?
What policy questions is economics good at answering? What policy questions is economics bad at answering?
Suppose that there are only two firms (Firm A and Firm B) in the market for decorative lampshades. Letthe inverse demand function and the total cost function be given by P = 50 –Q and TC = 2Q. How many lampshades will Firm A choose to produce? Sol..
So let's talk about these private interest groups for a moment. Some of these groups, like the NRA or ACLU can be very influential when it comes to politics.
What steps should multinational companies take to ensure that their subcontractors are behaving in an ethical manner? How should companies make human rights issues part of their overall policy?
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