Cuba currently greatly restricts and inhibits economic freedom, including private property rights and unregulated markets. What does economic growth models predict for this country’s future?
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(Q#15) The U.S. is gradually normalizing relations with Cuba. As Cuba is currently a
poor country by global standards, there is great hope that it will come to
prosper in the coming decades. Yet, Cuba currently greatly restricts and
inhibits economic freedom, including private property rights and unregulated
markets. What does
future? This country’s prospects will likely:
(a) be good, provided that the government continues to prevent private companies
from setting high selling prices and low employee wages
(b) be poor, unless they can shift to a political and legal regime that supports robust
private sector activity, individual initiative and personal freedom
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- Free Universal Health Care Except for the United States, the largest advanced economies in the world all provide a heavily subsidized universal health care system, that is, a publicly funded system that provides primary health services to all, usually at a nominal fee only and with no exclusions based on income or wealth. Although these systems are not perfect, their continued existence seems assured, regardless of the cultural or political framework of the various countries. A logical question is why the United States would be an outlier on this issue, and whether that might change in the future. Some answers, as noted in the text, lie in the United States’ historical reliance on a mostly private system, with approximately 83 percent of health care expenses provided by the private sector through insurers and employers (in contrast, this percentage in the United Kingdom is 17). A solution that has gained traction in recent years is conversion to a single-payer system. How might this…Q: How do Marxist and Neo-Marxist models explain the reasons why the underdeveloped countries cannot catch the rich countries? By summarizing the models in our textbook, explain the extent that the current global order (developed countries) prevents poor countries to catch up the rich countries. At what points can you criticize these models?Economic Transformation in Vietnam Vietnam is a country undergoing a transformation from a centrally planned socialist economy to a more market-oriented system. The transformation dates back to 1986, a decade after the end of the Vietnam War that united the north and the south of the country under communist rule. At the time, Vietnam was one of the poorest countries in the world. Per capita income stood at just $100 per person, poverty was endemic, price inflation exceeded 700% and the Communist Party exercised tight control over most forms of economic and political life. To compound matters. Vietnam struggled under a trade embargo imposed by the United States of America after the end of the Vietnam War. Recognising that central planning and government ownership of the means of production were not raising the population's living standards, in 1986, the Communist Party embarked upon the first of a series of reforms that transformed the economy a little bit Agricultural land was…
- 9. In bullet points, outline how the citizens of a foreign country benefit from the direct investment by a foreign Firm in their country's economy, for example how the citizens of a developing county, such as Sierra Leone, would benefit when a large, international corporation would open a new production facilities in their country?For the independent nation Eireland in 2019, if GDP = €356.1bn, C = €111.6bn, G = €34.8bn, X = €448.9bn, M = €405.1bn, and with a statistical discrepancy equal to €2bn, then Gross Domestic Fixed Capital Formation is equal to not enough information available €191.1bn €161.9bn €163.9bn25 true or false While global trade has improved since the recent recession, it has not rebounded to pre-2008 levels
- Lenovo needed a low-cost overseas location for manufacturing facilities, and India was ideal, with comparatively low labor costs, an educated, English-speaking workforce, a stable government, and good national infrastructure. Indian government also offers a favorable tariff agreement towards foreign companies. What expansion mode will you suggest Lenovo to pursue for Indian market to establish themselves quickly?Imagine you are a consultant who has been asked to summarize the strengths and weaknesses of Customaria, a nation with a pure traditional economy. Which of the following would you include in your report as weaknesses of Customaria's economy? Check all that apply. A)There is little cooperation, relative to other economies. B)The economy has a low growth rate. C)The participants in the economy are slow to adopt new beneficial technologies. D)Wealth does not get redistributed to the needy.Saudi Arabia is actively seeking foreign investors and appears to be creating a pro-business atmosphere, what non-oil businesses do you think would be best suited for expanding into Saudi Arabia?
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