Describe each of the following terms using your own words: a) Investment b) Balanced budget c) Absolute advantage d) Nationalisation e)Stagflation
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Describe each of the following terms using your own words:
a) Investment
b) Balanced budget
c)
d) Nationalisation
e)Stagflation
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- A balanced federal budget and a balance of trade are secondary goals of macroeconomics, while growth in the standard of living (for example)The social well-being of a country Is best measured by per capita GDP. Always increases when real GDP increases. Decreases when real GDP decreases. Is measured by more than changes in real GDP.Which of the following statements is true? Select one: a.Wealthy countries tend to score highest on the "least corrupt" scale. b.Poor countries are likely to remain poor because when one country's economy grows, it is at the expense of some other country's economy. c.Poor countries are poor because they lack resources. d.The pursuit of economic growth harms children by encouraging child labour industries and discouraging school attendance. In general, countries which are less corrupt by most international measures Select one: a.experience higher long term growth rates. b.have higher short term growth rates but are no different in the long run. c.have growth rates similar to more corrupt countries. d.are poorer than countries with higher levels of corruption. As GDP per person rises Select one: a.the number of children per family tends to fall. b.environmental quality falls and continues to fall. c.the incidence of child labour rises. d.the economy shifts towards more labour…
- Identify ONE way that the data in the chart illustrate global economic differences between countries in the late twentieth century. b) Identify ONE similarity (other than GDP per capita) that might account for the low life expectancies of some of the world’s countries, as displayed in the chart. c) Explain ONE way in which longer life expectancies in some of the world’s countries, as displayed in the chart, have led to new political, economic, or social problems.Often an economy does not adopt better institutions because a) the better institutions may be blocked by international organizations b) it is difficult to know which institutions generate good economic performance c) the better institutions may require lower taxes d) the people in power would not benefit from better institutions even though the economy would improve substiantiallySuppose you work for a multinational corporation that is considering starting a new subsidiary overseas. You are in charge of preparing a report about your recommendations regarding the potential new destination country. Your team has provided you with following macroeconomic data about this country. - GDP (nominal & real). - GNP (total & per-capita). - Economic growth rate. - Private consumption spending. - Government expenditures. - Unemployment rate and the dominant type of unemployment. - Inflation rate and the source of inflation. - Interest rates. - Foreign exchange rate. Show how each of the above macroeconomic data can help you in drawing a profile for this country. Moreover, are there any other additional information you need to know? You may select a hypothetical country to elaborate on your answer
- The branch of economics that looks at the operation of a nation's economy as a wholeThe overall cost of living is a lot less in China than it is in the USA or Europe. Why might this be?Summarize the twelve economic pillars of (the selected country) CHILE. First pillar: The institutional environment Second pillar: Broad and efficient infrastructure Third pillar: Macroeconomic stability Fourth pillar: Health and primary education Fifth pillar: Higher education and quality training in higher education. Sixth pillar: The efficiency of the merchandise market in efficient countries. Seventh pillar: The efficiency of the labor market Eighth pillar: The sophistication of the financial market Ninth pillar: technological provision Tenth pillar: The size of the market Eleventh pillar: Sophistication of business Twelfth pillar: Innovation Use two additional sources of references and at least five (5) of the concepts to expand the information. Example: Microeconomic, Macroeconomic, Foreign Investment, Tariffs, International Monetary Fund, World Trade Organization, among others. Analyze…
- Suppose an economy begins in steady state. By what proportion does per capita GDP change in the long run in response to each of the following changes? (a) The investment rate doubles (b) the depreciation rate falls by 10% (c) The productivity level rises by 10% (d) an earthquake destroys 75% of the capital stock (e) A more generous immigration policy leads the population to double.Tracking the past millennium, they say, puts the current economic drama into perspective. please identify the inaccurate representation in the following set. A) China alone generated one-third of the world’s gross domestic product in 1820. B) For most of this span, China and India were the world’s two biggest economies C) In 1850, India produced the highest percent of all the goods consumed in the world. D) From 1000 to the mid-1880s, they produced, on average, 70 to 80 percent of world output E) Before the steam engine and the power loom drove the transfer of economic might from Asia to the West, today’s emerging economies dominated world output.The economy does not grow once it reaches a steady state. This result is based on the assumption that output depends on capital and labor there is no saving. there is no depreciation. output depends on technologies
