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Determine the economic productivity level
Up until 1500 as best we can tell there had been next to no growth in output per worker for the average human for millennia. Even in 1800 average human alive had a material standard of living (and an economic productivity level) at best twice that of average human alive in the year 1. The problem wasn't that there wasn't any technological progress. There was. Humans have long been ingenious. Priestly, Warrior and bureaucratic elites in 1800 lived much better than their predecessors in previous millennia had lived. However just because elite that ruled you lived better doesn't mean that you--if you were average--lived any better.
Consider an economy with three states. The following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4). The t=0 prices of these stocks are given as follow
Difference between accounting profit and economic profit: The difference between accounting profit and economic profit is that economists include in total cost of production b
What is the difference between change in quantity demanded and change in demand
explain monotanic
cars:0,2,4,6,8 tow truck:30,27,21,12,0
-1- ASSIGNMENT #1 The demand function for Product X is given by: Qdx = 80- 2Px- 0.05P²x -0.2Py + 4Pz + 0.01I+ 2A Where: Px Price of good X $120.00 Py Price of related good y $100.0
Marvelous Marvin spends his money on muffins (m) and a composite good (c) (whose price you may assume is $1 throughout this problem). Marvin's utility is U = m + c and his income (
Two firms, A and B, are planning to bid for a contract of Motorway extension in Mauritius. Suppose: (1) firm B is a newly established company and has already incurred a st
Q. What do you meant by Payroll Tax? Payroll Tax:A tax which is levied on current employment or payrolls (collected either as a fixed amount per employee or as a percentage of
(a) What is meant by heteroscedasticity and what are the consequences of applying OLS estimation in its presence? (b) Explain in details the Generalised least Square procedure
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