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- economics of European Union EU regional policy needs to move away from funding traditional infrastructure projects in order to be more effective. Discuss.Based on Maritime Security define the terms: The economic importance of maritime trade Mega port InitiativeIsland Neighbors: Consider two remote, but neighborly, nations, the Isle of Sand and the Glass Islands. Both economies have similar demographics and technology (n, A, Zt , and z), but the Isle of Sand has a larger initial population Nt and a higher level of depreciation δ. Both economies can be represented by Cobb Douglas production functions, and their initial savings rate s is the same. Consider the following situation: Hurricane winds visit the virus, and wipe out half of the capital stock on both the Island of Sand and the Glass Islands. As a result, people on the Islandof Sand start saving at twice their initial rate. People on the Glass Islands invent a new way to store their capital, so their depreciation decreases.(a) Characterize the initial steady state equilibrium in both countries, graphically and in algebraic expressions. Which country is initially better off?(b) Demonstrate graphically what happens to both economies after the hurricane. What are the changes to total…
- Island Neighbors: Consider two remote, but neighborly, nations, the Isle of Sand and the Glass Islands. Both economies have similar demographics and technology (n, A, Zt, and z), but the Isle of Sand has a larger initial population Nt and a higher level of depreciation δ. Both economies can be represented by Cobb Douglas production functions, and their initial savings rate s is the same. Consider the following situation: Hurricane winds visit the virus, and wipe out half of the capital stock on both the Island of Sand and the Glass Islands. As a result, people on the Island of Sand start saving at twice their initial rate. People on the Glass Islands invent a new way to store their capital, so their depreciation decreases.(a) Characterize the initial steady-state equilibrium in both countries, graphically and in algebraic expressions. Which country is initially better off?(b) Demonstrate graphically what happens to both economies after the hurricane. What are the changes to total…Identify the relevant economic concept which can be matched to each of the descriptions below. 1 A measure used to control the physical level of imports allowed into a country.2 Aggregate income of all permanent residents of a country.3 A situation where merchandise exports are greater than merchandise imports.Describe the various concepts and techniques that are useful inreplacement analysis?