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1. Why is the debate between the international dependence and the neoclassical counter-revolution schools referred to as 'fingerpointing'?
2. Explain the following poverty related concepts:
(a) the poverty gap
(b) the Head Count Index
(c) the Human Poverty Index
(d) Human Development Index
Discuss non-monetary benefits open trade has contributed to the world since the end of WWII. Provide at least 2 examples. Why do you think these are important?
Any thoughts or comments? What is the necessity and relevance of measuring national income?
You expect to receive a payment of $600 one year from now. Answer the following questions and show your calculations:
Draw a (standard) U-shaped SAC curve, U-shaped SAVC curve, and upward sloping SMC curve for a perfectly competitive firm. Indicate the firm’s short-run supply curve. What will be the effect of an increase in fixed costs on the firm’s supply curve and..
The Australian dollar continued to rise by another 20 percent against the U.S. dollar in between 2010 and 2012. How would this have affected Billabong? Is there anything that Billabong might have done to limit its long-term economic expo- sure to cha..
Blood glucose measures the amount of sugar in the blood. Below are the readings for February for a person recently diagnosed with Type 2 diabetes.
How does a consumer's budget set differ from his budget constraint? For a consumer with a given level of income
Investors can only obtain the historical data of XYZ's stock's price. Assume that the market for XYZ's stock is efficient in the weak form
Suppose the inverse demand function is P Solve for the Ed for this demand curve. How does the Ed vary as one moves along the demand curve.
The production function for Our Production is Q = 25L – 0.05L2 ; where Q is output and L man–hours. (i) What level of man–hours will maximize total output? (ii) Calculate the marginal product for the following levels of man–hours: 25, 50, 100, 150, 2..
Imagine you come back to your economics class in the year 2050. How will the textbook describe money and banking? Based on trends you see today, make a prediction for the future of money. Explain why you think this trend will occur and how it will af..
The demand function (inverse) and the marginal cost function of a manufacturing-supply firm are as follows: Write the total revenue function from the inverse demand function shown. Compute total revenue at Q*.
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