of specific goods and services Gross Domestic Product (GDP) Unemployment Inflation Research data sets for the 1 economic concern within the South American country that you have chosen. In a 3–4 page report‚ answer the following questions: What are relationships between the economic concern you selected and that specific country’s economy? What trends do you see in the data sets? Support your assertions of the trends with statistical evidence. Cite all of your sources correctly
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2011 H1 Economics Prelim Questions Raffles Institution With the help of a diagram‚ analyze the effects of China’s increasing control over rare earths mines on the Japanese economy. To what extent would China’s reduction in the export of rare earths pose a challenge to the West’s march toward a greener future? Evaluate the effectiveness of the Chinese’s government’s intervention in the market for rare earths To what extent do you agree with the view that the US trade position with China over
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CARLETON UNIVERSITY Department of Economics ECON 4302 Competition and Regulatory Policy Instructor: D.G. McFetridge Fall Term 2011 Office: A806 Loeb Building Phone: 613-520-2600 ext. 3748 E-mail: donald_mcfetridge@carleton.ca Office Hours: Mondays‚ 2:30 p.m. – 3:30 p.m. and Thursdays‚ 11:30 a.m. – 12:30‚ or by appointment COURSE WEB SITE: www.carleton.ca/~dmcfet/courses PREREQUISITE: ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher. COURSE FORMAT:
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The marginal propensity to consume (MPC) is defined as the additional consumption that results from one dollar increase in disposable income. Bill’s disposable income goes from $100‚000 in 2001 to $200‚000 in 2002‚ and his consumption spending goes from $80‚000 in 2001 to $140‚000 in 2002. Which of the following statements about Bill is true? Bill’s MPC is equal to 0.6. Which of the following changes in disposable income would lead to the greatest increase in consumption? a $20‚000 increase
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ECON 1. (Demand Under Perfect Competition) what type of demand curve does a perfectly competitive firm face? Why? A horizontal or a perfectly elastic‚ demand curve. A perfectly competitive firm is called a price taker because that firm must “take‚” or accept‚ the market price- as in “take it or leave it.” 2. Explain the different options a firm has to minimize losses in the short run. A firm in perfect competition has no control over the market place. Sometimes that price may be so low
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Name:_________________________ ECO 101 Principles of Microeconomics Final Exam Spring 2006 Form A There are 30 multiple choice questions and 5 short answer questions on this double-sided exam‚ so be careful not to skip any questions! Part I: Multiple Choice (60 points) Read each question carefully and select the best response. Fill in the corresponding circle on your answer sheet. 1. If the total output of candles in Nick’s Wicks shop increases from 20 per hour to 30 per hour
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Bill owns 3 acres of beautiful wooded land. When Bill decides to move to be closer to his grandchildren‚ he donates the land to the state with the understanding that the land will be used as a state park. This state park is large enough that it is not congested. It is an example of a good that is neither rival in consumption nor excludable. 9. You are the mayor of a small town with 2‚000 residents. The head of your economic development agency recently conducted a survey in which the 2‚000 residents
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1. The following table shows the average retail price of salted grade AA butter per pound and the Consumer Price Index from 1980 to 2000‚ scaled so that the CPI = 100 in 1980. | 1980 | 1985 | 1990 | 1995 | 2000 | Consumer Price Index | 100.00 | 130.58 | 158.56 | 184.95 | 208.98 | Retail Price of Butter | $1.88 | $2.12 | $1.99 | $1.61 | $2.52 | a. Calculate the real price of butter in 1980 dollars. Recall: Real Price of butter in Year t=CPI1980CPIt×Nominal Price in Year t For Example:
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differences in productivity. According to the Heckscher &Ohlin theory (H-O theory)‚ countries with different resources or factor endowments trade each other and a country’s comparative advantage is determined by its relative factor scarcity relative to a set of countries. It is the difference in technology and/or endowments according to these early trade theories that are the underlying causes of international trade. The comparative advantage concept is still popular although some other new models have
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ECON 7002: Semester 1 2012 Tutorial Topic 1 Tutorial Topic 1 CHAPTER 1 Practise Economics: Question 2: In light of your answer to question 1‚ provide some explanations for the apparent differences in the relative share of government expenditure in the countries listed in the above table. Governments spend money on social security‚ health services‚ infrastructure such as roads‚ bridges etc‚ and transfer payments such as unemployment benefits and pensions. The disparity within the table
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