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Describe Perez's model of technological, financial and institutional systems coevolution. What does Perez mean by the terms (a) 'irruption' and (b) 'turning point'? Discuss the roles of the principal agencies (individuals, firms, institutions, government, etc.) driving or being influenced by change during (a) an 'irruption' and (b) a 'turning point'? Illustrate your answer with a straightfonivard case example.
Explain what is meant by a zero-sum game, and why it was central to Mercantilist thinking. Then, explain how Smith's idea of absolute advantage altered the nature of the "game."
Exhibit 5-5 GDP data (billions of dollars) Personal consumption expenditures $5,207 Interest 425 Corporate profits 735 Government spending 1,406 Depreciation 830 Rental income 146 Gross private domestic investment 1,116 Compensation of employees 4,42..
What are the key principles and tenets that any educated person should know regarding the science of economics and their applicability in the world today?
Discuss the difference between tangible and intangible priorities and why ground rules are important when both parties are amenable to negotiate
Suppose policy makers pass a budget that results in an increase in the budget deficit. Also assume that this fiscal policy action results in a reduction in the saving rate. To what extent will this reduction in the saving rate cause permanent changes..
what is the expected annual real depreciation consistent with interest rate parity?
When will the competitive firm shut down in the short run? When will it incur a loss but continue to produce? Draw a graph showing each scenario and explain.
Given all the above factors, which candidate should be selected? (b) By how much would the estimated capital investment for the alternate candidate [the candidate not selected above in (a)] have to vary from your first decision in (a)?
Some residents of the village of Taugswater have proposed purchasing logging permits relating to a nearby wilderness area.
The presence of pre-school children often complicates women’s labor supply decisions by forcing them to consider the costs of child care. In this problem, you are asked to consider the labor supply decision of a single mother with one child of pre-sc..
Suppose the economy is in long-run equilibrium when a decrease in the interest rates causes an increase in new home sales. What happens to the price level and the level of output in the long run? Draw an aggregate demand/supply diagram that illustrat..
Refer to the above graph for a profit-maximizing monopolist. At equilibrium, the firm will be earning:
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