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Create an overall index of resource reliance by adding together energy depletion, forest depletion, and mineral depletion (all measured as a percent of national income). Do countries that have higher values for natural resource depletion have above average incomes? Do your calculations provide evidence of a "resource curse"? How do you expect this index would be related to corruption control? Make a scatter plot that shows this relationship. Does it support your idea?
Suppose that firms in the short-run are earning above-normal profits. Describe what will take place to these profits in long-run for the following markets:
All of the questions in this Part refer to the market for gasoline. All questions are concerned only with the short run. Each situation is not related to the others. Analyze each question separately. Huge new crude oil reserves are discovered in th..
To mitigate agency problems between senior executives and shareholders, should the compensation committee of the board devote more to executive salary and bonus(cash compensation) or more to long term incentives.
What is the difference between average total cost and average variable cost
1. assume that a firm has a total product curve given by q 2kl.a graph the total marginal and average product curves
Suppose that the price of good X rises and the price of good Y falls in such a way that the consumers new optimal consumption bundle lies on the same indifference curve as his old bundle.
Describe the behavior of consumption, investment, labor, productivity, wages, the price level and the money supply over the business cycle both in terms of correlation, magnitude and lead vs lag. Give the economic intuition of the results on consu..
Calculate her utility maximizing choice of food and clothing and calculate the level of utility her optimal consumption bundle gives to her.
find the effect of a trade surplus? explain the effect of a trade deficit? how do trade deficits and surpluses affect
Explain Arthur Laffer's theory of tax rates relative to tax revenue. What is the effect of a tax on the deadweight loss Why is it sometimes difficult to predict what will happen when a tax rate is decreased or increased
First, identify and describe the three basic questions that all economies must answer. Write a thorough paragraph for each of the three basic questions and be sure to explain how any of these questions relate to demand, scarcity, technology, the d..
Which of the following products and services are likely to encounter adverse selection problems: golf shirts at traveling pro tournaments, certified gemstones from Tiffany's graduation gift travel packages, or mail-order auto parts
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