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Draw the production function graph for your new example using the chart function in Excel. Again, highlight the data and choose a scatter diagram with a line.
What would happen to the PPF and total GDP in the future if all GDP produced now is consumed and none goes to physical capital goods?
Why are savings so important for economic growth? If there are no savings, what would that mean for an economy?
What might be the effects on society and different groups of the unregulated operation of the market system? Who would be likely to gain? To lose?
What specific changes would you suggest be undertaken by now-independent countries with economic structures shaped by colonialism?
What role did de-industrialization play in this process? Why did the colonizers require de-industrialization in their colonies? Who benefited and who lost?
Why and how were dualist structures fostered in the colonial regions, and how did they create barriers to further economic development?
Do developed countries have a limited array of exports? Why do most less-developed countries have such a limited array of exports?
What has happened to the terms of trade for tropical commodities in the twentieth century?
How did merchant capitalism function to retard and distort the developmental potential in the colonial regions? How is it different from industrial capitalism?
If income were perfectly equally distributed, poorest 20 per cent of individuals or families. What was the average income of the remainder of the population?
What public policies might be required? What initial conditions might be important if an economy is to have a positive rate of technical efficiency change?
What specific positive externalities might be expected from workers with more education interacting with other workers with education or even with workers?
What might at first sound like a vacuous and not very helpful observation actually captures the essence of the neoclassical theory of economic growth.
What are the conditions that must hold for incomes to converge? What would unconditional convergence of incomes imply for incomes of countries in the future?
Under what social and economic conditions are markets likely to fail? When is there likely to be government failure?
Compare their contrasting approaches to rent-seeking. Where do they agree, and when and why do they disagree?
What are the lessons to be learned regarding the role of the state versus the role of the market in this instance?
Review the discussion of Deepak Lal and determine if the issues raised by Lal can be understood with greater precision with the use of Evans's categories.
Review the discussion of the critique of state policies and practices offered by the neoliberals.
Distinguish between backwash effects and spread effects. How do these two ideas of Myrdal's relate to the concept of cumulative causation?
What are problems faced by primary product exporters? Are there primary products that countries export which would, perhaps, not subject to same difficulties?
Discuss the possible policy changes for the economy and any other strategies you would recommend to avoid declining terms of trade in the future.
Why do you think Raúl Prebisch's use of the terms center and periphery, and the idea that relations between them were antagonistic.
What is meant by the international division of labor? What function does the periphery play vis-à-vis the center countries in this division of labor?