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Read "A Possible Perspective on Growth and Stagnation Over the Past 200 Years" posted on Blackboard.
a. Describe the 4 reasons that Acemoglu gives for why the world did not experience growth before 1800.
b. Name the 3 structural transformations underwent by Western Europe that contributed to the area's "economic takeoff" in the 19th century.
c. Summarize Acemoglu's main argument for why some countries experienced growth but not others following the Industrial Revolution.
Why would a nation such as the United States, which can presumably produce everything it needs itself, choose to trade with other nations?
Suppose the airline is offered $4,000 per week to haul freight along the route for a local firm. This will mean replacing one of the weekly passenger flights with a freight flight (at the same operating cost).
Suppose that the position of a nation's aggregate demand curve has not been changed, but long-run equilibrium price level has declined.
A small-volume automaker limits the number of franchised dealers in the U.S. and gives them exclusive territories. There are also non-dealers who have no official connection with the manufacturer.
What would this event makes the demand for the dollar to increase or decrease relative to the demand for the pound.
Explain how cross-price elasticity of demand is relevant to a firm being investigated for antitrust violation. If you were the chief economist for this firm, would you want to show a high cross-price elasticity or a low-low cross price elasticity ..
What are the pros and corns of a market economy in comparison with a command economy.
a. Define GDP, giving what items comprise the GDP and then compute the value of GDP in Macronia b. Define net exports and the items that comprise it and compute the value of Net exports in Macronia c. Define disposable income and the items that ..
As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant, answer the following questions: What two policies could you use to reduce the total amount of emissions Why do you think they each w..
Compute the four-firm concentration ratio (C4) before the merger. Show your work and round your answer to 4 decimal places.
Paper currency is the most easily recognized form of money. How well does paper currency serve the functions of money if we have an inflation rate of 50-percent per year.
According to the life-cycle hypothesis, what is the typical pattern of saving for an individual over his or her lifetime What impact does this behavior have on an individual's lifetime consumption pattern What impact does the behavior have on the ..
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