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Question: Consult the assigned Easterly chapters to answer the questions below. Use your own words, relate your answer to class material, and resort to direct quotations only to illustrate your points.
a) What does Easterly mean by "leaks" of knowledge? And by "matches" of skills? Can you 1. give us examples?
b) How would you interpret these concepts (leaks and matches) and express them formally in terms of the Romer model?
c) How do these leaks and matches cause the poor to be trapped in poverty?
d) Did luck play any role in the generation of a "virtuous circle" of growth? Can luck in a particular period of time generate a later "technological dead-end"? Can you give us any examples?
branding iron products a specialty steel fabricator operates a plant in the town of west star texas. the town has
Suppose you collected data on the average number of text messages sent per month by 300 randomly selected teenagers over 2009 and 2010 and found the sample meanwa
Equilibrium Price Select a product that appears in newspaper ads of several different stores. Note the various prices and indicate whether any of these prices.
Assume the normal production process for beet sugar uses high sulfur oil for fuel and releases two units of sulfur dioxide to the air for every ton of beet sugar manufactured.
A fellow manager points to the 15-unit increase between year 3 and year 4. Extrapolating this trend, he predicts 135 units will be sold in the coming year (year 5). Do you agree? Explain.
Discuss critically the contributions of the modern classical school to our understanding of the role and limitations of monetary and ?scal policies for stabilization, and compare these with those of the neoclassical model.
3. Ethics & Law overlap. This is called... A. A) Yellow area B. B) White area
Suppose the Fed purchases $250 million worth of securities from banks. If the currency/deposit ratio is 0.6 and The Fed requires banks to hold 12% of their deposits in reserves, how much money will be created through The Fed’s action if banks hold 2%..
Which of the following statements correctly describes free-market equilibrium? A survey that calls people on land-line phones to study the purchasing habits of US adults would likely incur a problem of ________ in the data
What are the differences between "shareholder" capitalism and "stakeholder" capitalism? Which countries in Europe practice which systems, and why? Discuss some of the strengths and weaknesses of both systems
Describe and discuss why characteristics of the labor markets should result in the similar wage rate for all jobs requiring the similar level of abilities and skills?
The velocity of money is equal to PQ/M. Hence, V = PQ/M. This is related to the equation of exchange and is just a rearrangement of the equation MV = PQ. a. true b. false
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