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The escape from the Malthusian trap, in which technological progress outstripped the effects of population growth, took place following the emergence of capitalism. Consider the three basic institutions of capitalism.
Answer one (1) of the following
-Why is private property important for technological progress to occur?
-Explain how markets can provide both carrots and sticks to encourage innovation.
-How can production in firms, rather than families, contribute to the growth of living standards?
With the help of an IS-LM diagram, explain the effects of restrictive fiscal policy on the level and composition
What would happen to the rate of economic growth in Canada if government decides to accept more immigrants? Use labor market and production function to explain
Given the following information about a closed oil-rich economy which does not impose any tax on its citizens to finance its expenditure, you are required to derive mathematically and explain using graphs the impact of a change in each of the key ..
Find the change in consumer surplus, producer surplus and total surplus when Vanland decides to open their economy to trade.
If the transaction is included, determine which component of final expenditure it represents. If the transaction is excluded, explain why - Calculate nominal GDP in years one and two and calculate real GDP in years one and two assuming that year o..
Is economic growth impacted by prevailing employment/unemployment levels in the economy? Explain.
Illustrate what does the term "Recession" mean and how do we know when one occurs. How does government intervene to move the economy out of a recession.
What happened to the elasticity of demand for American cars when the Japanese developed a strong auto industry? What happened to the elasticity of demand for American autoworkers? Explain.
With the per-unit prices of broccoli (B) and pork rinds (R) equal to $2 and $1, a consumer, George, with an income of $1,000 purchases 300B and 400R. At that point, the consumer’s MRSBR = 3 R/1 B.
The party controlled the state by using the _________, the power to recommend and approve managers in administration and enterprises, of appointments and promotions to control access to government positions.
Assuming no population growth or technological progress, find the steady-state capital stock per worker, output per worker, and consumption per worker.
In what ways is the inflation tax a tax, and in what ways is it not a tax and who pays for the inflation tax?
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