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1. Does economic development necessarily imply industrialisation? Provide theoretical and empirical justi?cations for your answer.
2. Discuss the main characteristics of Arthur Lewis's model of economic development with unlimited supplies of labour. What are the most important criticisms levelled against the Lewis model?
If the U.S. dollar depreciates against the euro and purchasing power parity holds, would a Big Mac in Europe become more or less expensive? Why? If purchasing power parity doesn’t hold, does an American tourist in Europe pay more or less for a Big Ma..
assume the marginal product of labor is mpl 20 and the marginal product of capital is mpk 50. in addition the price
What is the actual level of output per worker - What is the steady - state level of output per worker?
A government has decided to phase out its antipoverty program support payments more slowly to help the near-poor become self-sufficient. One criticism about this policy is likely to be
How much moneywould Lolita be willing to payto avoid having the price of cow feed rise to $1? .
Illustrate and fully describe using an example of relevant cost (a cost whose value does affect the optimal decision) and an example of irrelevant cost (a cost whose value does not affect the optimal decision) to the business regarding this decisi..
Discuss why it would cost Pete Sampras or Venus Williams more to leave the pro tennis tour and open a tennis shop than it would cost a coach of a tennis team to do so.
what factors affected national income unemploymey rate and inflation rate what factors effect each of these economic
The CEO of Lowes wants to see if city size has any relationship to the current profit margins of the company stores.
Explain why scarcity forces individuals and society to incur opportunity costs. Give specific examples. (2.5 marks for explanation and diagram plus 2.5 marks for specific examples)
Societies are frequently concerned about whether police are vigilant in carrying out their responsibilities. Many societies have experimented with incentive compensation for police.
Write an essay about Economics: Making Sense beyond Common Sense. What is the subject matter of economics? What role does the "division of labour" play in defining this subject matter?
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