China's economy was much more agricultural than Russia's, and observers believe this aided its economic transition.
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China's economy was much more agricultural than Russia's, and observers believe this aided its economic transition....
the concept of economic transition has been much debated. Discuss three measures necssary for an economy to successfully transition from one stage to the next.
Question 30 3 pts The economic cost of unemployment affects overall economy more than the economic cost of inflation because: The economic cost of inflation is a global phenomenon that is felt equally by others around the globe. The cost of unemployment hurts the disadvantaged more than the well-to-do. The cost of unemployment is shown by a point inside the production possibilities curve. The economic cost of both unemployment and inflation are relatively equal. < Previous
Chinese economy has begun slowing after three decades of economic boost, but still, relatively growing fast by the standards of other countries in the world. Doug Fuller once describe China as 'Paper Tigers, Hidden Dragons' findings suggest that China's state and domestic market institutions are ineffective, the hybrids promise an alternative way to avoid the middle-income trap. By documenting how variation in China's institutional terrain impacts technological development, the book also provides much needed nuance to widespread yet mutually irreconcilable...
Which of the following statements about positive economic analysis is false? There is much more disagreement among economists over positive economic analysis than over normative economic analysis. Positive analysis uses an economic model to estimate the costs and benefits of different course of actions. Unlike normative economic analysis, positive economic analysis can be tested. There is much more disagreement among economists over normative economic analysis than over positive economic analysis.
following statement is F/F 1. Between 1921 and 1928; the New Economy Policy allowed markets to help economic recovery in the USSR. 2. The administrative-command economy was the mechanism for resource allocation in the former USSR between 1992 and WOLRD WAR II, but was abandoned in 1946. 3. Although the Soviet Union was a large country with a large population, it had few natural resources. 4. Although the USSR had an elected government, the decision-making authority in the economy was...
The tax multiplier is always more effective in stimulating the economy than government multiplier because tax cut give people more incentive to spend. True False
The tax multiplier is always more effective in stimulating the economy than government multiplier because tax cut give people more incentive to spend. True False The “impossible trinity” refers to the idea that it is impossible for a country to simultaneously have free capital flows, a fixed exchange rate, and low unemployment. True False
MORE EXERCISES 1. Transition dynamics: What is the principle of transition dynamics in the com- bined Solow-Romer model? 2. Long-run growth: Growth in the combined Solow-Romer model is faster than growth in the Romer model. In what sense is this true? Why is it true? 3. Balanced growth: Suppose we observe the following growth rates in various economies. Discuss whether or not each economy is on its balanced growth path. (a) A European economy: gy/l = 0.03,gkil = 0.03. (b)...
True-False-NotGiven and please Explain why. Thank you very much Economic resources are classified into one of four categories: land, labor, capital, and machinery. A society that is operating at a point outside its production possibilities frontier is using its economic resources inefficiently. The American economy is referred to as a centrally planned economy because the federal government makes most of the economic decisions. A decrease in the price of a good will cause the demand curve for that good to...
1. (50 points) Draw a graph of the overall economy using the Neoclassical economic model, including the LRAS, SRAS, and AD curve. Draw the model so that this economy is operating at its full potential. 1. Based on this information, is the economy operating with an unemployment rate that is above or below the natural unemployment rate? 2. If AD were to suddenly increase, what would happen to the price level and Real GDP in this economy immediately after the...