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Question: a. Explain why a country that is currently a primary commodity exporter and that has a relatively large land area and abundant natural resources might be more likely to remain a primary product exporter compared to another country, which is also now a primary product exporter, but which lacks abundant land and other natural resources.
b. Do abundant resources necessarily act as a brake on the evolution of the economic structure (this is the resource curse issue)?
c. Under what conditions might natural resources and abundant land be a blessing for future growth possibilities? Might there be a difference in terms of the "resource curse" effect between countries which have abundant but equitably owned natural resources and those with abundant but unequally owned resources where control is concentrated in a small elite?
Research alternatives to the performance and resource monitoring tools that are part of the Windows OS and provide a comparison, including pros, cons, prices, etc...
Consider a free market with demand equal to Q = 1,200 - 10P and supply equal to Q = 20P. What is the value of consumer surplus? What is the value of producer surplus?
What does Equilibrium look like? Is everyone (buyers and sellers) both happy with it? Does Equilibrium REALLY exist in the real world or is it more a theory?
1) Economists generally define the short run as being 2) Production functions indicate the relationship between
1) At a price of $9, the marginal revenue of a monopolistically competitive firm is $5. If the marginal cost of production is $7, what should the firm do? 2)For a monopolistic competitive firm, which factor would not increase market power?
What divergences arise in equilibrium output and efficient output when spillover benefits and costs are present? Provide some 'real-life' occurrences.
What can Americans not buy due to high spending on healthcare? What factors other than healthcare affect population health?
Diffentiate among short-run and long-run and consider the role of expectations.
1. Describe the process of money multiplication. What is the role of the central bank and commercial banks in the process? What do you think happens to the money multiplier in a boom, and why?
What GDP Does and Does Not Measure? The expenditure approach of GDP measures out through calculations of consumption, investment, govt. spending, and net exports.
What is a balanced budget rule for the federal government?
Imagine two naton , Glacierland, and Swampland. Glacierland is producing everything at a lower absolute cost than Swampland. If the two countries trade what is the reason.
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