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1. Which three countries on the list are good examples of "conditional convergence?"
China
Ireland
Argentina
North Korea
Greece
2. Compared with its fast growth today, is China's economy likely to grow more quickly or more slowly in the future?
3. Which country would you expect to have a higher rate of investment: a catching-up country or a cutting-edge country?
Now suppose the same game is played with the exception that Player A moves first and Player B moves second. Draw the game tree associated with this situation. Using the backward induction method discussed in the online class notes, what will be th..
Explain the relationship between the price elasticity of demand and total revenue. 2. Is the price elasticity of gasoline more elastic over a shorter or a longer period of time? Explain. 3. Determine whether each of the following is an explicit c..
How would you put dollar values on the benefits and costs of truck safety regulations? Do befits exceed costs?
Explain how is the aggregate supply curve different from the supply curve for a single good like pizza.
Amaranda and Bartolo consume only two goods, X and Y. They can trade only with each other and there is no production. The total endowment of good X equals the total endowment of good Y.
Assume initially that the demand and supply for premium coffees (one-pound bags) are in equilibrium. Now assume Starbucks introduces the world to premium blends, and so demand rises substantially. Describe what will happen in this market as it moves ..
Explain whether there is a relationship between inflation and unemployment and should government interfere and reduce inflation and unemployment?
(b) Provide an example of the interaction between each of these groups. (c) Sometimes a fourth group is included. What would that group be. Provide an example of the interaction between this and the groups listed in your answer to (a).
How would you adjust your behavior in the long term? If you decide not to buy this product again, what will you buy instead?
You go to Europe, and you want to present your data in Celsius. Knowing that C = (F - 32) * (5/9), where F is the temperature in Fahrenheit and C is the temperature in Celsius, what is the average daily temperature of your city for your period of ..
Why does the aggregate demand curve slope downward? Give at least three reasons and examples when addressing this question, using your text, the Online Library, and the Internet as resources.
Explain the difference between Classical, Keynesian, and Monetarist Economics. Which do you think is most effective?
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