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For example, if both Country A and B have a GDP of $10 million, you may assume the countries are relatively similar in terms of wealth and production. If you were to discover that Country A had a population of 100 and Country B had a population of 1,000,000 - you would instantly assume their financial situations would be pretty varied. Country A would have a GDP per capita of $100,000 whereas Country B would have a GDP per capita of $10.
What are some pitfalls of this approach? Is GDP per capita enough to really assess an economy with?
It is necessary, for the sake of social efficiency, that firms bid for resources and pay them their opportunity cost and why?
Explain how market structure affects market performance and conduct. Identify three types of government regulation that help to improve market performance and conduct and explain how each regulation achieves its objectives and the economic justifi..
How do government policies and/or regulations factor into changes in economic activity on both a domestic and global scale? Give a specific example of a policy or regulation that has helped economic activity.
Discuss the long term strengths and weaknesses of the macroeconomy of Nigeria - Analyze the trade position of Nigeria and discuss the country''s comparative advantage.
Specify the unique value the company will offer in the selected markets. Discuss the resources and capabilities that are required. Analyze how the company will capture value and sustain competitive advantage over time.
Identify and provide definitions of the major components of object oriented database modeling? Please provide the necessary website links with the above answers.
According to the manager of a major Japanese automobile company, since the price elasticity of demand for Japanese cars is more elastic in the United States than it is in Europe, we should charge a higher price in the United States than in Europe. Is..
Assume that the government increases purchases of goods and services through $20 billion. Using your graph obtained in, draw the new AE line and determine the new equilibrium GDP.
What is the opportunity cost of going to a doctor to be examined for skin cancer? Would eliminating research reduce or increase the cost of U.S. health care?
Providing government subsidies to encourage farmers, households, and businesses to increase their water-use efficiency. Raising price of water while providing low rates for minimal use to help poorer families and individuals.
What role, if any, should the U.S. Government play in health care coverage for Americans? Should the government's role in terms of health insurance be different for those with jobs and for those without jobs?
An institution is "the rules of the game in a society or, more formally, the humanly devised constraints that shape human interaction: the rules and regulations, laws, customs, and business practices of a country." Do you agree that institutions a..
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