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a) How do we measure income inequality? What problems arise the more unequal a country's income distribution becomes? What policies do governments adopt to redistribute income and how do those policies help the country's economic growth?
(Very brief answers needed - like a simple one-page/300 word or less write-up).
b) How does the capital/financial account differ from the current account? Give examples of what is included in each. What do we mean by a "trade deficit" and how does it relate to the international supply and demand for a nation's currency?
Find out the real rate of interest earned by Albert in each of the three years and his total real return over the three-year period. Assume that interest earnings are reinvested each year and themselves earn interest.
It is always better to hire a more qualified and productive worker then a less qualified and productive one regardless of cost.
Describe economics and Describe the economic perspective, including definitions of scarcity, opportunity cost, purposeful behavior.
Elucidate causes for shifts in supply and demand for the chosen product. Explain how these shifts in supply and demand influence price, quantity and market equilibrium.
Interior Department recently announced that it will increase the entrance fees at Yellowstone National Park in order to increase park revenues.
Mining is proposed for a wilderness area that provides two benefits: recreation due to backpacking opportunities and biodiversity there are endangered wildlife and plants.
Describe how many days before the due date the cesarean section should be carried out so that there is no more than a 10 percent chance that the woman will go into labor before that date.
Suppose the government intends the tax to reduce the consumption of some goods for example, cigarette or chewing gum. Illustrate what will determine the effectiveness of the tax in reducing consumption
Assume that a consumer can buy only two goods, A and B, and has an income of $100. The price of A is $10 and the price of B is $20. Illustrate what is the slope of the budget line if A is measured horizontally and B is measured vertically.
If the price of one good is four time the price of the other also the price of both double, Illustrate what effect does it have on the set of affordable bundles
Suppose the two newspapers merge. Illustrate what is the likely post- merger bargaining outcome.
compute the monthly rate of inventory growth in the global aluminum market using the given demand and supply equations for the world aluminum market.
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