1) What explains the fall in inequality from 2002 to 2010 in Latin America? In your answer be sure to explain the reasons for the changes in returns to education.

2) Why did the Latin America experience with industrialization from Word War I until World War II lead Latin American Structuralists to believe that it was necessary to limit imported manufacturing into Latin America?

Consider two countries, Home and Foreign, trading two goods, Rice and Car. The Home country is endowed with abundant capital relative to labor and hence has comparative advantage to specialize in Cars; whereas the Foreign country is endowed with abundant labor and specializes in Rice. Once they start trading, the price of car decreases, and the price of rice increases in the Foreign country. How would the decrease in the price of car affect the income of each of the following factors under each trade model in the Foreign country?

a. Ricardo Trade model i. Real wage earned by labor

b. The Specific-factors trade model i. Rental rate of capital ii. Rental rate of land iii. Real wage earned by labor

c. The Heckscher- Ohlin (H.O.) Trade model i. Rental rate of capital ii. Real wage earned by labor

d. Is there a gain from trade for the foreign country under the H.O. Model? Explain (you may use a graph to illustrate your answer)

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how the tax system contribute to development of Labuan IBFC?

Over the past seven weeks, we have explored different decades of US history and applied principles of macroeconomics to their outcomes. Take this time to share what you have learned with your classmates. In your initial post, respond to the following:

Choose one macroeconomic concept you applied in your final project of the years 2000-2010. Explain how it helps describe the economic outcomes of the decade you researched during 2000-2010.

2a. The reserve requirement is 20% and the FED buys 200 billion dollars of government securities. What is the maximum expansion possible in the money supply?

2b. (30 points) Explain how the change in the money supply in question 2a works its way through the economy to affect employment, inventories, GDP, and interest rates. Be sure to explain the causality chain, not just what happens to each variable.

Q. Why some governments resort to price ceiling and price floor for some goods and services? Describe three most important disadvantages of price ceiling and price floor? In what conditions do think that price ceiling and price floor may contribute to the welfare of people?

Q. What is a patent? If a patent serves as barrier to entry, why do governments issue patents?

Q. Elaborate the three most important characteristics of an oligopoly market. Give three examples of oligopolistic industries in Saudi Arabia.

What is the effect of an increase in the investment rate on the level of steady-state output per worker in the Solow model? Show in a graph.

Q. Why a firm remains in business even by earning zero economic profit? Elaborate the answer.

What is the relationship between bond prices and interest rates? Give an intuitive explanation of why this relationship exists.

QUESTION 8 - 9.3

Patents represent what type of barrier to entry?

QUESTION 9 - 9.3

Which of the following is NOT a barrier to entry?

QUESTION 10 - 9.3

Suppose there are four firms that produce gluten-free breakfast cereal and each firm has 25% of the market share. What is the HHI for this market?

QUESTION 15 - 10.2

What strategy do cartel members use to coordinate their actions without using a formal agreement?

Squeaky Clean and Biobase are the only two producers of chlorine for swimming pools. The market demand for chlorine is P=32-2Q, where Q is measured in tons and P is dollars per ton. The corresponding marginal revenue curve is MR=32-4Q. Assume that chlorine can be produced by either firm at a constant cost of $16 per ton. 1) If the two firms collude and act like a monopoly, agreeing to evenly split the market, how much will each firm produce and what will the unit price be? How much profit will each firm earn? 2) Does Squeaky Clean have an incentive to cheat on this agreement by producing an additional ton of chlorine? Explain. 3) Does Squeaky Clean’s decision to cheat affect Biobase’s profit? Explain. 4) Suppose that both firms agree to each produce 1 ton more than they were producing in part (1). How much profit will each firm earn? Does Squeaky Clean now have an incentive to cheat on this agreement by producing another ton of chlorine? Explain.

Question 9 (1 point)

Which change would by itself allow for more investment in a country?

Question 9 options: