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a Discuss the meaning and importance of the Leontief paradox b
(a) Discuss the meaning and importance of the Leontief paradox.
(b) Summarize the empirical results of Kravis, Keesing, Kenen, and Baldwin on the importance of human capital in helping to resolve the paradox.
(c) How was the paradox seemingly resolved by Leamer, Stern, Maskus, and Salvatore and Barazesh?
(d) What is the status of the controversy today?
a Discuss the meaning and importance of the Leontief paradox b
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- 5) How did Veblen criticised capitalist economy? What were the instincts which motivated different actors in a capitalist economy?Question 18: Economic theory attempts to predict the outcomes and impacts of a behavior with an assumed set of conditions. A True B FalseConflict theory: contends the social institutions and practices persist because powerful groups have the ability to maintain the status quo (Marx). 1)Think of technological change. 2)Think of a change in falaj system. 3)Think of Gender: between functionalist view and Conflict response.
- 5-What are viable explanations that someone can use to counter Leontief’s paradox?QUESTION 1 a) List three distinctive features of capitalist market. Suppose you are a factory manager, provide two (2) reasons to explain why you would be more motivated to work in capitalist rather than a socialist market. b) Define magasid al syariah, Based on your answer, discuss four (4) shortcomings of capitalist market from the Islamic perspectives. c) Production possibilities table for two products, corn and paper, is found below. Usual assumptions regarding production possibilities are implied. Corn is measured in tons, and paper is measured per unit. Combination Corn Раper A 6 B 18 5 33 4 D 45 3 E 54 2 F 60 1 G 63 Using the following graph construct a production possibilities curve from this information placing corn on the vertical axis and paper on the horizontal axis. ii. i. What is the marginal opportunity cost of producing the first unit of paper? The marginal opportunity cost of producing the fourth unit of paper? What are the total opportunity costs of three units of…Compare and contrast German Historical School’s inductive method with Marginalist’s deductive method. By using an example, discuss why both methods were finally accepted as complementary to each other.
- 1. What are the characteristics of a good theory? What makes a theory practical? How can an entrepreneur use the resource-based theory for his or her advantage? 2. Explain the problems we would have if there was a “law of entrepreneurship.” 3. How does each of the four attributes of resources contribute to SCA?i. Classify the following issues as relating to microeconomics or macroeconomics. a) a family's decision about how much income to save b) the effect of government regulations on automobile emissions c) the impact of higher national savings on economic growth d) a firm's decision about how many workers to hire ii. Classify each of the following statements as positive or normative. a) Society faces a short-run trade-off between inflation and unemployment. b) A reduction in the rate of money growth will reduce the rate of inflation. c) Society ought to require welfare recipients to look for jobs. d) Lower tax ates encourage more work and more saving. Page 1 of 3 Suppose that at the beginning of the year the Accountant of the School of Business defines and outlines what he considers to be his priority expenditure ii. areas as follows. item Cost(Ghs) Reference Textbooks 100,000 Office Spaces for lecturers 50,000 Refurbishment of School Auditorium 50,000 Projectors for Lecture Halls 40,000…2.If you are the employer of a business establishment, how will you apply utilitarianism using consequentialism components? Give examples of
- 39. Which of the following statements accurately represent ideas proposed by Adam Smith? a) the market system does not require any help from the government to survive. a) government should be weak. b) the government should protect domestic industry against foreign imports. c) the value of money is based on the goods it can buy d) selfishness is a good thing for society and the economy.Why mainstream economics has intentionally misinterpreted the pioneers of economic theory?Are the following statements true or false? Explain your answer clearly. (a) "The UK referendum campaign about leaving the UK is a classic example of a prisoners' dilemma". (b) "In the labour market model, an increase in labour productivity causes a reduction in the real wage that is consistent with a given markup". E Please select file(s) Select file(s)