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Can you explain Feudalism and its concept of Land Labor and Capital? Also can you go into detail about Karl Marx’s idea of the economic revolution.
How large is China's GDP per capita, as a fraction of US GDP per capita? Which country levies the higher tax rate on imports? Provide evidence.
Endogenous growth: Assume a production function w/o labor Yt = sbKt with b > 0, no population growth. Find the Solow fundamental equation for this model.
What are the effects of heteroscedasticity? What is it? What is the standard error kf the regression?
Why does an estimate of the size of the multiplier matter in evaluating the effects of an expansionary fiscal policy?
What are the advantages and disadvantages of such monopsony power in healthcare?
Is economic growth desirable? Aside from increases in labour and capital inputs, what accounts for economic growth in Canada?
Explain what economic principles best describe this Congressional package.
Draw the elasticity curve when Drug price is really high and consumers cannot afford it?
Draw a diagram showing how capital evolves from period to period (i.e. a diagram with kt on the horizontal axis and kt+1 on the vertical axis.)
Using the demand curve for Good X derived above, calculate the price elasticity of demand for Good X at Px=$2. Note: calculate the point elasticity of demand.
Derive the dynamics of capital accumulation and solve the steady-state level of output.
What is the price elasticity of demand at P = 20? At what price is the demand unit-elastic (i.e. elasticity = -1)?
Why do governments control certain monopolies? Provide at least one real world example in supporting your argument.
If there is a permanent need for the aqueduct, should the tunnel or the pipeline be selected for this particular portion of the aqueduct?
Recommend how a company can protect its intellectual property during a major upgrade to its computer systems.
What are the fixed costs of production? What is LRAC at MES? What kind of Economies of Scale does J&M face?
How would you go about developing a remedy to reduce the unfair burden cost shifting places on certain payers?
Find What is the company's average cost? A customer is willing to pay $60 for the 701th calculator. Should the company produce and sell it? (YES/NO). Explain.
The country of Puglia produces and consumes two products, pasta(P) and togas(T). Use your graph to explain whether or not Puglia gains from free trade.
Which product will Puglia export? Which product will it import? On the same graph that you used for part a, show the free-trade equilibrium for Puglia.
Draw the decision tree. Calculate the average cost for each treatment. Calculate the average QALY for each treatment.
Annual operating costs are expected to be $70,000 for the first 15 years and $100000 a year thereafter. Compute the capitalized cost of perpetual service at 7%.
Define economics and explain how the discipline of economics differs from the Natural Sciences and also from the other Social Sciences.
Define externally validity. Explain under what circumstances RCTs are likely to externally valid. If they are not under what circumstance are they still useful.