Economics: Principles & Policy
14th Edition
ISBN: 9781337912679
Author: William J. Baumol; Alan S. Blinder; John L. Solow
Publisher: Cengage Learning US
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Chapter 2, Problem 5DQ
To determine
The relevance of the given statement.
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Economics: Principles & Policy
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- Go to a recent issue of The Economist magazine. In the back of each issue is a section called “economic indicators.” That section lists the most recent growth data for a substantial number of countries. Which countries around the world are growing most rapidly according to the most recent data? Which countries around the world are growing more slowly? Flip through the stories in The Economist to see if there is any explanation for the pattern that you observe. Write a brief essay on current general economic conditions around the world.arrow_forward"Given the rate at which scientists are making new discoveries, we will soon reach the point that no further discoveries can be made. Economic growth will come to a stop.” Do you believe this to be an accurate statement? If so, why? If not, why?arrow_forwardI need the answer as soon as possiblearrow_forward
- A new fertilizer formula improves crop yields. What would be the impact on the country's production function?arrow_forwardImagine two countries, i and j. You have the following information: si = 2 sj hi= hj 2Ai = Aj What can you infer about long-run income per worker differences between these countries? Explain formally.arrow_forwardIn 1989, America's GDP per capita was approximately 30,000 (measured in today's dollars). How much higher in percentage terms was America's GDP per capita in 2015?arrow_forward
- What are the current productivity trends in Australia?arrow_forwardMany countries import considerable amounts of goods and services from other countries. Yet economists argue that a nation can enjoy a high standard of living only if it can produce a large quantity of goods and services itself. Can you reconcile these two facts?arrow_forwardPropose one explanation for why the fastest-growing region will increase faster than other regionsarrow_forward
- According to economists, productivity can be increased by Group of answer choices - improving the education of workers - raising minimum wages - raising union wages - restricting trade with the foreign countriesarrow_forwardWhich variables are now having an effect on business, and which challenges will be faced by companies in the United States in the next years?arrow_forwardSummarize 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…arrow_forward
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