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a. What is labour productivity and how does it relate to long-run economic growth?
b. Assuming that the legal system is already efficient at enforcing property rights and contracts what two factors can increase labour productivity?
c. Based on your answers to questions a. and b. in the medium to long term would it be efficient for the government to increase expenditure on the university sector (assuming the money will be spent on teaching and research)?
Explain Kuznets's Inverted-U Hypothesis. Why is Piketty critical of Kuznets's hypothesis? Is there empirical evidence supporting or refuting the hypothesis?
What you know about the consumer's preferences, can you predict a possible equilibrium on the new budget line?
Describe the evolution of the concept of international development and discuss the critiques against 'development'--or specifically modernization theory.
Which of the following statements is true for a long-run supply curve that slopes upward? If total market output is increased unit costs of production increase if total market output is unchanged, unit costs of production increase. The total cost of ..
Between 2004 and 2007, the price of petroleum products in the United States more than doubled, and gasoline and diesel fuel peaked at over $3.00 a gallon.
Why might economically and politically powerful elites in some less-developed countries be opposed to national technological competence?
This assignment problem from economics and it is focuses on Nash equilibrium or game theory, introduced by Prof. John Nash. A case study involving game theory in deciding dominant strategy for two competing multiplexes is given.
The following payoff table depicts service competition between two hospitals in a southeastern city. These two hospitals dominate the market in this city. (Each payoff represents profit in millions of dollars.)
If the tax rate follows a random walk (and if the variance of its innovations is bounded from below by a strictly positive number).
Given the above information, the percentage change in the price level as measured by the GDP deflator between 2013 and 2014 is
Discuss how your organization selected this project for further consideration. Be sure to include an overview of how decision rights are allocated.
Disregard the demand pattern of the given time series, You are asked to use the time series to derive a trend equation. In order to derive the trend equation.
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