HW 1 International Economics‚ ECON 630 Due on Wednesday‚ July 2 @ 11:00pm PT (Total 50 points) 1. Why did the Mercantilists consider holdings of precious metals so important to nation-state building? (6 points) Wealth was viewed as synonymous with holdings of precious metals. Nation-states wished to become wealthy and this meant obtaining large holdings of precious metals. It is also argued by some that the shortage of coinage constrained the growth of these nation-sates and that precious
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Topic8. Living at home or moving away from families while studying at university As probably you know writing has 4 criteria to scoring. Task response -coherence and cohision- Lexical resource- grammatical range and acuracy . They all are scored from 0 to 9 and then the average of all will be your mark. In many cities‚ lack of universities with a wide range of studying fields forces students to leave their families and move to other places. However‚ there are many students who continue their
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Ethiopia as a Less Developed Country By: Danielle McGrady i. Ethiopia According to the United Nations Economic and Social Council‚ Ethiopia is considered one of the forty-eight least developed countries (LDC). The list of LDC are looked over every three years and this list was recently updated in March 2012. To be considered a least developed country‚ the Committee for Development takes into consideration these three factors: “ (A.) A per capita income criterion‚ based on a
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“In the first quarter of 2010‚ the market for private homes in Singapore saw a record breaking prices and transaction volumes‚ prompting calls for government intervention to cool the market.” Using economic analysis‚ explain the reasons for the “record breaking prices and transaction volumes” for private homes in Singapore. Private homes in Singapore seeing a record breaking prices and transaction volumes is due to the actions of both the consumers and the producers‚ which will cause a shift in
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Tutorial Questions Introduction to Economics and Macroeconomics Discussion Questions 1 Explain why both nations with high living standards and nations with low living standards face the problem of scarcity. If you won $1 million in a lottery‚ would you escape the scarcity problem? You would not escape the scarcity problem even if you won $1 million in a lottery because the problem of scarcity will always be present. There will always be unlimited wants that cannot be satisfied due to limited
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MGT 405 1. (10 pts) Because a government subsidy increases the number of mutually beneficial trades‚ it increases social welfare. Uncertain. A Subsidy is like an inverse tax. Consumers and producers benefit. The demand curve shifts down shifting the equilibrium‚ lower price for consumers and greater quantity sold for producers. Consumer surplus rises and producer surplus rises (area under the new price they receive). However the welfare is the sum of the new consumer surplus and the producer
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Questions 2. Assume a monopolist faces a market demand curve P = 100 – 2Q‚ and has the short-run total cost function C = 640 + 20Q. What is the profit-maximizing level of output? What are profits? Graph the marginal revenue‚ marginal cost‚ and demand curves‚ and show the area that represents deadweight loss on the graph. 3. In question 2‚ what would price and output be if the firm priced at socially efficient (competitive) levels? What is the magnitude of the deadweight loss caused by monopoly
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Milestone Two: Supply and Demand Conditions and Price Elasticity of Demand Jason Strawbridge Microeconomics 201 April‚ 5 2015 ` Hewlett-Packard is the world’s largest technology company‚ it provides numerous products‚ software solutions and services to private and business consumers of all sizes. Their customers also includes government‚ health and education sectors. Their operations are divided into seven different divisions‚ Hewlett Packard offers products for personal computing‚
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------------------------------------------------- Top of Form 1. (TCO 1) The general concern of economics is with the study of the (Points : 1) | degree of competition in stock and bond markets in the economy. efficient use of limited productive resources to satisfy economic wants. issue of equality in the distribution of income and wealth among households. budget deficits in the domestic economy and trade deficits in the international economy. | 2. (TCO 1) The term scarcity in economics
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MS 3229 2012/2013 SEMESTER ONE – CLASS TEST DEWT/ DCEB 2FT - ENGINEERING MATHEMATICS 2 Time Allowed: 30 mins Instructions To Candidates: 1. 2. 2. 3. 4. 1. All the SP exam rules are to be complied with. A ‘mathematical formulae and tables’ card is provided. All non-exact answers are to be corrected to 3 significant figures All answers are to be written in the answer booklet provided. Answer ALL the THREE questions. The level of pollution (measurements y in coded units) in a city and the corresponding
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