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a. Describe Kuznets's inverted 'U' hypothesis. Discuss the conceptual merits and limitations of this hypothesis for contemporary developing countries.
b. What are the key characteristics of the agrarian system in Asia that distinguish it from that of Latin America? Explain your answer.
An investment has an expected return of 12 percent per year with a standard deviation of 24 percent. Assuming that the returns on this investment are at least roughly normally distributed, how frequently do you expect to earn between -13 percent and ..
An increase in government spending initially and primarily shifts which curve in what direction
Increased interest rates is a form of purchase or sale Open Market Operation (OMO)?
You have just purchased a house for $400,000, paid $24,000 for legal fees and $17,000 for renovations. The market price of the house does not change. If the sales tax on a house were 3% (to be paid by you if you sell the house), what is the sunk cost..
Many papers look at the impact of credit frictions onto business cycles, and they almost unambiguously find that credit frictions work as an amplification mechanism of other shocks. A lot of these models (in the tradition of Kiyotaki and Moore) have ..
There are estimates that as many as 4,000 pizzerias open every year in the U.S. and just as many close. Why does this continue to happen? Provide an example.
If the marginal product of the 4th worker hired is 6, and the marginal product of the 5th worker hired is 4, you should not hire the 5th worker because your profit would decrease since the 5th worker’s marginal product is less than the marginal produ..
Calculate the tax rate (in %) for the following cases
From 1950 until the late? 1980s, the natural rate of unemployment in the United States
You’ve recently learned that the company where you work is being sold for $435,000. The company’s income statement indicates current profits of $23,000, which have yet to be paid out as dividends. Assuming the company will remain a “going concern” in..
At a certain fire station, one team of fire fighters consists of 8 firefighters. If there are 24 firefighters qualified for a team, how many different teams are
When a nation is producing on its production possibilities frontier, if more resources are used to produce one good, then the production of other goods
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