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"South Asia has a lower income per capita than sub-Saharan Africa." Comment on the validity of this statement? What is the meaning of a "colonial legacy"? Discuss any disadvantages and possible advantages.
Consumers are willing to pay $2,000 for a lemon, but $5,000 for a plum. According to Ms. Wizard, The equilibrium price of used 1999 Zephyrs will be $2,000 in Sourland but $2,600 in Sweetland.
Are there other factors that could affect the growth rate of output in the short run ?
Some time ago you put $500 into a bank account for a "rainy day". Since then, the bank has been paying you 1% per month, compounded monthly. Today, you checked the balance and found it to be $708.31. How long ago did you deposit the $500
Natural real GDP grows by 3 percent per year over the next five years, but then grows by 4 percent in the second year, 5.5 percent in the third year, 4.2 percent in the fourth year, and 3.5 percent in the fifth year. Calculate the cumulative loss..
Suppose a competitive market consists of identical firms with a constant long-run marginal cost of $10. There are no fixed costs in the short run or long run. Suppose the demand curve is given by Q(P) = 1000-p
Explain the features this market structure and what happens to the company's profit in the short-run and long-run.
As a part of your comparison, indicate which of these theories developed the concept of a Liquidity Trap and what this does to the Demand for Money as part of that theory
Consider an increase in the lump sum transfer T. Use theconcepts of income and substitution effects to explain why an increase in the lump sum transfer will reduce the amount of labor supplied.
Suppose David spends his income (I) on two goods, x and y, whose market prices are px and py, respectively. His preferences are represented by the utility function u(x; y) = lnx + 2lny (MUx = 1=x;MUy = 2=y). a. Derive his demand functions for x and..
Do you agree? Why, or why not? Would you agree with a qualified version of George's claim? If so, what qualifications would you add?
GeeM has a sporty wheel package and a luxury interior package that is considering offering to its auto boyers. GeeM has estimated that there are three consumer types (A, B, and C - all of equal magnitude - for simplicity, consider it one of each ..
This bank can safely expand its loans by what amount c.by expanding its loans by this amount in part (b), its checkable deposits would expand to what amount (if all loans were made to ch3ecking account customers)
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