--%>

Article on Agriculture and economic development

Read the article on blackboard in the assignments area, John McCallum "Agriculture and economic development in Ontario and Quebec until 1870", Gordon Laxer, ed. Perspectives on Canadian Economic Development: Class, Staples, Gender and Elites (Toronto: Oxford University Press, 1991).

a. Which colour/region on the game board seems to have the best chance of winning? Explain your reasons?

b. If you think of Canada in 1867, is this game board historically accurate? How would you change the game board, or the conditions at the start of the game to make it more historically accurate?

c. If you were to play with the game board that you described in part b, then which colour/region on the game board would have the best chance of winning? Explain your reasons.

Answer:

(i) Green coloured region, Ontario, seems to have the best chance of winning the game. There are many reasons to choose this region as the favourite. Few of them are better agricultural productivity, higher per capita GDP, larger amount of land per capita, and subsequent development of institutions like banks. Furthermore, even the industries of this region were better developed than that of other regions.

(ii) The depiction in the game seems to be inaccurate if we take into account the geographical distribution of Canada in 1867. There was no place called Manitoba and Labrador during that period. Similarly, Alberta was not there, among other different regions.

Though the regions are not representative as it were on 1867, there is no change required in the beginning of the game. The main things to change will the names of the territories since the resource endowment does not change with nomenclature.

(iii) The assertion of first part remains valid and still Ontario seems to win the game.

   Related Questions in Macroeconomics

  • Q : FDI WHAT ARE THE STRENGTH AND WEAKNESS

    WHAT ARE THE STRENGTH AND WEAKNESS OF THE THEORY OF FOREIGN DIRECT INVESTMENT

  • Q : Meaning of SWOT Analysis SWOT Analysis

    SWOT Analysis: SWOT analysis is a powerful tool to know the strengths, weaknesses, opportunities and threats for any company. The company itself does SWOT analysis so as to know where they are standing vis-a-vis their competitors and what are the area

  • Q : Control of Inflation Economists agree

    Economists agree that inflation beyond a moderate rate is undesirable as it can often prove disastrous and therefore, it must be kept under control. Economists agree also that an appropriate mix of fiscal and monetary policies can be helpful in controlling inflation.

  • Q : Domestic inflation of fixed or managed

    Question: A county with a fixed or managed exchange rate would consider i.___________________ its currency if the country is worried about domestic inflation. ii. Briefly Explain?

    Q : Shifting of demand curve due to new

    Assume that the launch of Microsoft Xbox 360 moved the demand curve for Sony PlayStation 2 games from D0 to D1 throughout similar period if new game designers enter into this market and hence supplies of PlayStation 2 games shifted S0 to S1. The market equilibrium: (1

  • Q : Taxing imports-whats the problem ‘Must

    ‘Must a country which is less proficient at generating all goods use import controls to decrease imports from additional countries?’

  • Q : Reallocation of resources through budget

    Reallocation of resources: In case, the market economy fails or does not attain the desired social objectives, the government has to interfere via budget and reallocate resources accordingly. Through its budgetary

  • Q : Define Macro Economics Macro Economics

    Macro Economics: Macro economics studies the economy as an entire.

  • Q : Problem on Imperfect information

    Imperfect information at times causes consumer’s attempts to maximize their contentment to fail since: (i) Prospects are imperfectly realized, and trial-and-error prototypes can lead to mistakes. (ii) Sellers might exploit asymmetric information

  • Q : Conditions through which the supply

    What are the conditions through which the supply curve will shift?