According to Mankiw (2019), which of the following institutions has shown relatively greater efficiency in allocating resources and relatively faster growth compared to others? O a. Countries with larger extent of corruption O b. Countries with authoritarian rule O c. Democratic capitalist countries with French-style legal system O d. Democratic capitalist countries with English-style legal system
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- Answer and Explain in Philippine's Context 1. What form or combination of political institutions is required to enhance economic growth? 2. Do political institutions affect economic performance regardless of any preconditions or stages of economic development? In other words, does a new democracy tend to perform as well as a consolidated, or well-established, democracy if their political institutions run similarly?reference:https://drive.google.com/file/d/17GWtQrkypD1hQ_oaBzaGEk-BvopP19pK/view?usp=sharingLet’s figure out how long it will take for the average Indian in India to be as wealthy as the average Western European is today. Note that all numbers are adjusted for inflation, so the numbers are comparable. India’s current GDP per capita is $3,000, let’s say that real output per person there grows at 5% per year. Using the rule of 70, how many years will it take for India to reach Italy’s current level of GDP per capita, about $24,000 per year?What policies can the government of a free-market economy implement to stimulate economic growth?
- “Even if we [the government] were to marshal every single resource at our disposal, and engage on ahuge expenditure of public funds, we would not alone be able to guarantee employment to the millionsof people who are out of work”.and that“Without growth there will be no jobs, and without jobs there will be no meaningful improvement in thelives of our peopleIn 1998, Brazil had a per capita GDP of about $4,500, compared to per capita GDP of about $28,000 in the US. (A) If per capita growth were to average 2% per year indefinitely in the US and 5% per year in Brazil, how many years would it take Brazil to catch up with the US? (B) Using the assumptions of the Cobb-Douglas production function, how fast would capital stock have to grow for per capita GDP to rise 5% per year? How does that compare with capital stock growth of 3% per year in the US (assume technology advances 1% per year in both countries)? (C) In mature industrialized societies, the capital/output ratio is approximately 3.0. If the average depreciation rate is 0.04, what would be the current saving and investment ratio in the US? What would it be in Brazil if per capita GDP rose 5% per year?(a). Provide a definition of ‘technological capability’ and ‘social capability’ and describe the differences between them. Why can we say that innovation has a ‘systemic’ nature? (b). Financial development, social capital, favourable business regulation, trade openness are different aspects of ‘social capability’ influencing innovation processes and, therefore, economic development. Make a ranking of these factors according to their observed degree of importance for economic development. Explain why ‘inclusiveness’ and ‘equality in opportunities’ can strengthen the innovation capability of an economy. (c). Figure 1 below shows the cross-country correlation between the development of the education system and the level of economic development. Analyse Figure 1 by arguing about the importance of the education system for economic development in low, emerging, and developed countries. Please answer all the parts of this question.
- If in 2008 China’s real GDP is growing at 9 percent a year, its population is growing at 1 percent a year, and these growth rates continue, in what year will China’s real GDP per person be twice what it is in 2008 Please use the other formula to solve this proble not the rule of 70, because i have the solution using rule 70!By taking into consideration the history of the Caribbean, the economic theories underpinningCaribbean development as well as the features of the typical Caribbean economy, construct ahypothetical (ideal) economic model that you consider suitable for the economic development ofthe Caribbean. Ensure that you carefully explain/justify the reasoning behind the development ofyour model.You will now need to analyse your new model. Be sure to clearly show how your “new”model improves on the other models that exist ( charts or graphs of necessary)True or false? Economic change during the Civil War was part of Charles and Mary Beard meant when they called the war a second American revolution. The textbook makes a case that while the war accelerated prewar trends of innovation in modernization, it was hardly revolutionary in terms of changing the fundamental direction of the economy. And while statistically the war neither accelerated nor retarded long-term economic growth, it did Ladik we alter the section of the tribulation of wealth and output, very much to the advantage of the north
- Answer the following: Q#13) The former Tea Party and Trump factions with the Republican Party would like the government to limit its direct intervention in the private sector while lowering taxes and eliminating government regulations. Which theory of economic growth is being utilized? (a) Malthusian Theory (b) Neo-Classical Theory (c) New Growth Theory Q#14) Does allowing for private property and property rights promote economic growth through time? Which best summarizes the view of economists? (a) Yes. Profit incentives that undergird investment and innovation would be undermined unless private property rights are protected. (b) No. The public interest and the public welfare cannot be promoted unless private companies are controlled and even operated by the government.a) the profit maximizing decisions of an individual manufacturer. b) economic growth. c) the rate of inflation. d) the rate of unemployment. Question 2. When nations desire a healthy macroeconomy, they typically focus on three goals, one of these being: a) low inflation b) balanced budget c) prudent monetary policy d) assuring competition between firms Question 3. If macroeconomics looks at the economy as a whole, it focuses on which of the following? a) the division of labor b) households c) business firms d) unemployed people Question 4. In the ______________, households receive goods and services and pay firms for them. a) goods and services market b) labor market c) financial capital market d) savings market Question 5. Which of the following is included in the calculated Gross Domestic Product? a) Farmer Freddie sells his second tractor to his son. b) Suzanne buys a love seat and chair for $85 at the yard sale on the corner. c) A local ice cream store sells…Anawer the ff. questions. 1. How can industrialization or innovation help end the poverty cycle? 2. How can infrastructure development and industrialization be more inclusive of Indigenous perspectives and rights? 3. How does government corruption affect infrastructure development and industrialization?