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Given the following information, and assuming the Cobb-Douglas weights are (1/3) on capital and (2/3) on labor, calculate the growth Rate in RGDP: (B= billion, M = million)
1980 Y = 11,216B, K = 36,999B, N=136.9M
1985 Y = 12,623B, K = 42,609B, N = 141.7
What is the average annual growth rate of RGDP over this period? Write your answer as a percentage and round to the nearest one-tenth.
John Piderit the general manager of the Western Tool Company is considering introducing some new tools to the company's product line. The top management firm has identified three types of tools (referred to as projects A, B, and C). the various di..
A decrease in demand for the goods and services in the market, and a higher equilibrium price. A decrease in supply and an increase in demand in the market, but we cannot know the direction of the price change without further information
Demonstrate each of the following events by a production possibility frontier graph, and examine what the effects of it were on economic growth;
Explain which of these methods of encouraging growth would you suggest to a newly industrialized economy.
What do we call a market structure with few producers, high barriers to entry and little competition?
Mr. and Mrs. Jones purchase a new car while they are living in New York. A year later, they move to Oklahoma. Shortly after the move, the brakes fail on the car, causing an accident in which Mrs. Jones is injured. The Joneses file a lawsuit in Okl..
If 85 million adults are not working what is the unemployment rate?
Give a reason why it is important as an economist in the study of welfare economics to analyse the degree to which individuals or firms, or any economic agent, responds to incentives.
How much can Jack consume this month, if he consumes his whole income from this month, and borrows against the whole income next month? Similarly, what is most that Jack can consume next month?
In the late 1960s, Milton Friedman and Edmund Phelps argued that there was not a structural relationship between inflation and unemployment rates. In particular, the trade off could only exist in the short -run.
"Drink driving and smoking impose a heavy toll on public health expenditure and loss of lives. The government is contemplating on implementing the following two policy measures to curb health expenditure and loss of lives resulting from drinking":
Read the article "UK unveils levy on sugary drinks" and answer the following questions: a) What are the arguments for and against the imposition of such a tax on sugary drink?
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