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Explain the differences between Real GDP and Real GDP per capita. In your opinion which is a more accurate measure of standard of living, why? Consider the following values and use them to justify your answer. Real GDP Population China 14.72 trillion USD 1.402 billion Canada 1.643 trillion USD 38.01 million Chile 252.9 billion USD 19.12 million
An unbounded optimization problem is a feasible optimization problem for which there exists no finite bound on the optimal objective value.
Which of the following statements about financial institutions is correct? Janet saves $100 in a bank account that pays 4% interest per year. How much is Janet's account worth at the end of one year? What is the value of Janet's $100 deposit five yea..
New equipment was just purchased for $750,000. Estimated salvage in 10 years is $50,000. Calculate the depreciation and book value at the end of year 4 for each of the following methods:
Scholars have argued that economic globalization has led to or will lead to a race to the bottom in terms of social and environmental standards. Critically assess this argument drawing on lectures and the assigned readings. How convincing is this arg..
However, it is not at all uncommon to observe investors with long horizons holding their investments entirely in bonds.
Reinstituting a draft of military personnel would lower the military's budget. Would it lower the actual cost to the economy of the military? Is the production of other goods and services forgone by people joining the military? Does a draft change th..
What is the central theme(s) behind Viet Nam economy’s successes and challenges in providing an improving welfare for its citizens?
The US hegemonic status has been a subject of heated debate, especially after the 2008 financial crisis. In your opinion, will the U.S. lose its hegemonic status? If so, which country is likely to replace the U.S. to become the next hegemony?
Explain why when using the expenditure method for determining GDP do we not include expenditure on intermediate goods, but when using the income method, we use the income of factors of production for both intermediate and final goods production?
Give two examples of possible net surpluses that three voters get from each of two possible political alternatives A and B. Construct your first example so that the alternative that wins a majority vote generates the maximum total net surplus. Make y..
The demand and supply equations for product A are given by the following equations: P = 40 - 5QP = 10 + 2.5Q
Explain how foreign exchange rates are determined. How do changes in interest rates, inflation, productivity, and income affect exchange rates
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