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Health and Life Expectancy:
In addition to struggling on low income, many people in the developing nations fight a constant battle against malnutrition, disease and ill health. The average life expectancy in developing nations in 2003 was 57 years as compared to 74 years in developed nations. Infant mortality rate is approximately 73 (66 for Ghana). This compares poorly with 12 in developed nations. Medical care is an extremely scarce social service in many parts of the developing world.
Terms of Trade: The ratio of average price of a country's exports, to average price of its imports, is its terms of trade. Theoretically an improvement in a country's terms of trad
discuss scarcity,choice and opportunity cost
Consider the following insurance market. There are two states of the world, B and G, and two types of consumers, H and L, who have probabilities pH =0.5 and pL =0.25 (high and low
Problem 1: a. Describe the concept of opportunity cost, using the production possibility curve. b. What are the fundamental problems of an economy? Describe how the command
Determinants of Private Demand - Gender Hypothetically, let us consider a family with two children, a boy and a girl. Let it be that both of them qualify in an entrance exami
Assume the banking system contains: Total Reserves $ 80 billion Transactions Deposited $800 billion Cash held by public $1
Select the production possibilities curve for an economy with 42 units of labor
list all the type of cost
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Returns to Scale Measuring relationship between scale (size) of a firm and output 1. Increasing returns to scale: output more than doubles when all the inputs are doubled
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