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Why is human capital so important in the development process? Explain human capital in terms of (the sum of) education/training/experience/ literacy etc, and clearly show how t
Examine the role of foreign direct investment (FDI) for developing countries Explanation of foreign direct investment as the direct ownership of capital in another country by a
there are 1 million hours of labor available for making cars in the north, and another 1 million hours of labor available for making cars in the south. in a no-trade world, let''s
When is tax to society cause a deadweight loss? Applying Consumer and Producer Surplus: The Efficiency Costs of a Tax A tax causes a deadweight loss to society, since les
An individual derives utility from consuming goods X and Y according to the following estimated utility function U = 12X 2/3 Y ¼ X and Y are quantities (units) of
Where minimum efficient scale is very huge for capital intensive operations, it may be more cost effective to allow one company to spread its fixed costs over a very huge number of
Neoclassical economics is dominant approach to economics currently taught and practiced in most of the world (and particularly dominant in Anglo-Saxon countries). It attempts to ex
Explain the importance of well-established property rights in the method of development. Definition of property rights should not begin and end with owning land and buildings b
explain the theory of consumer behavior from the utility perspective
buyers cannot tell whether any given car is a lemon. The percent of all cars that are lemons is theta. How much is theta when all cars offered are sold?
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