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Problem
1. Explain Thomas Robert Malthus's theory of population. Why did he think it was an appropriate rebuttal to the revolutionary and egalitarian proposals of William Godwin? How was this theory used by the Classical Political Economists to explain the wages of labor? Elaborate.
2. Explain David Ricardo's theory of income distribution and economic growth. How and why did economic growth, in the absence of imemational trade, lead to changing shares of wages, rent and profit? How would these shares change? Why? What would happen to the economy, in the long run, according to this theory? Elaborate.
3. Explain David Ricardo's labor theory of value. Why did he think this was an improvement over Adam Smith's contradictory comments on the theory of value? What were Smith's ideas on the theory of value? Elaborate.
Economists call the pursuit of a transfer of wealth through government at someone else's expense:The primary force encouraging the entry of new firms into a purely competitive industry is: The field of economics that analyzes government decision maki..
Between your answers to parts b and c, which prices/capacity are best applied from a social welfare perspective? Why?
What advantages do Internet surveys have? What are the disadvantages? Tell me about your experience with Internet surveys, whether you've administered or taken them.
Elucidate the differences in unemployment rates among the United States and Western European countries.
Assume you are the manager of a California winery. How would you expect the following events to affect the demand or quantity demanded for your product?
Suppose that the interest rate is 5%. Which of the following statements are true and which are false?
Explain the effect a rise in price levels would have upon the demand for money and nominal interest rates.
Why does price level not affect GDP instead of quantity?
A monetary policy that tries to minimize fluctuations in interest rates leads to a pro-cyclical monetary policy, thereby increasing the amplitude of the business cycle.
Given the Demand curve for flyswatters Q = 500-50P, estimate the quantity demanded for the following prices.
Assume that there're 10 million workers in Canada and South Korea and each worker in Canada and South Korea can manufacture four cars per year.
If the interest rate prediction had been available during the time period in which the loan and the liability were being negotiated, what suggestions would you have offered to reduce the possible effect on the equity of the company? What are the diff..
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