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Drastic difference between north korea and south korea

Assignment Help Macroeconomics
Reference no: EM132560071

Question 1: The two Koreas, North and South Korea, are shown in a satellite photo taken at night, Bright areas show where there are artificial lights, and dark areas show where there are no "night lights." In North Korea, the majority of the country is dark at night meanwhile South Korea shows bright electric lights almost everywhere.

What could have determined this drastic difference between North Korea and South Korea? Please explain succinctly using the Growth Model. Do not include unnecessary information.

Question 2: According to "All time box office rank", Avengers: Endgame is 2019 holds the highest all-time gross at $2.7 billion. Box office gross is calculated by multiplying the number of tickets sold times the price of the ticket.

However, your great uncle said, "No, that's not true, when I was young, everyone went to see Star Wars back in 1977. I am sure that the original Star Wars movie sold more tickets than Avengers Endgame."

It turns out that your grandpa was right. Explain succinctly why. Do not include unnecessary information.

Question 3: At the end of 2009, the unemployment rate in the US was 9.9 percent and the labor force participation rate was 63 percent. In mid 2010, the unemployment rate was still at 9.9 percent, however, the labor force participation rate went up to 65.2 percent.

Many economic analysts were saying that the US economy was recovering, as the antiplation for a labor market recovery was high.

Why was the economy recovering when the unemployment rate stayed at the same rate of 9.9 percent? Explain succinctly. Do not include unnecessary information.

Question 4: Starting in 2013, Colorado legalized cannabis usage. In 2020, 34 states have legalized use of medical cannabis, and the 11 other states and Washington DC allow recreational cannabis usage.

Many people have argued that cannabis legalization will increase a state's GDP. One piece of evidence was that in Colorado, when recreational cannabis usage was legalized in 2o13, Colorado's GDP increased by 5.4 percent while the US GDP growth was 1.8 percent.

How does cannabis legalization increase GDP? Explain succinctly with the GDP calculation in mind. Do not use unnecessary information.

Reference no: EM132560071

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