What does convergence mean in the neoclassical growth model?

3. To what extent technology transfer can facilitate development in emerging markets?

Suppose that a monopolistically competitive restaurant is currently serving 260 meals per day (the output where MR = MC). At that output level, ATC per meal is $10 and consumers are willing to pay $12 per meal.

Instructions: Enter your answers as whole numbers.

a. What is the size of this firm’s profit or loss?

Answer:_

Will there be entry or exit?

       (Click to select)   Entry   Exit

     Will this restaurant’s demand curve shift left or right?

       (Click to select)   Left   Right

c. Suppose that the allocatively efficient output level in long-run equilibrium is 210 meals. In long-run equilibrium, suppose that this restaurant charges $11 per meal for 180 meals and that the marginal cost of the 180th meal is $8. What is the size of the firm’s economic profit?

Answer:_

d. Suppose that the allocatively efficient output level in long-run equilibrium is 210 meals. In long-run equilibrium, suppose that this restaurant charges $11 per meal for 180 meals and that the marginal cost of the 180th meal is $8. Is the deadweight loss for this firm greater than or less than $90?

       (Click to select)   Greater than   Less than

A tax on the sale of a good results in (i) a deadweight loss and (ii) the burden of the tax being shared equally between the buyer and the seller. True or false? Explain and illustrate your answers.

Please define the Paradox of Thrift. How does this macroeconomic view of saving differ from the lay-person’s view of saving?

One of the most frequently estimated equations in the macroeconomics growth literature are so-called convergence regressions. To investigate this matter, you collect data from 104 countries for the sample period 1960-1990 and estimate the following relationship:

g₆₀₉₀ = 0.020 – 0.360 × g_pop + 0.004 × Educ – 0.053×RelProd₆₀

where g₆₀₉₀ is the growth rate (in percentage) of GDP per worker for the 1960-1990 sample period, RelProd₆₀ is the initial starting level of GDP per worker relative to the United States in 1960, g_pop is the average population growth rate of the country, and Educ is educational attainment in years for 1985.

(a) What is the effect of an increase of 5 years in educational attainment? What would happen if a country could implement policies to cut population growth by one percent?

(b) It has been suggested to you to interact education with the initial condition to test for additional effects of education on growth. To test for this possibility, you estimate the following regression:

g₆₀₉₀ = 0.015 -0.323 × g_pop + 0.005 × Educ –0.051×RelProd₆₀ –0.0028 × (Educ.RelProd₆₀)

Write down the effect of an additional year of education on growth. West Germany has a value for RelProd60 of 0.57, while Brazil's value is 0.23. What is the predicted growth rate effect of adding one year of education in both countries?

Briefly discuss why the domestic work undertaken by a stay at home mother or drug dealers are not included as part of GDP? Provide an example of such a situation

discuss some of the challenges facing HR planning efforts. (15)

Question: 1. Discuss the HR planning process and its importance in light of the 2020 trends. (20)

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Which of the following is a grouping of characters into a word, a group of words, or a complete number?

Select one:

a. Table

b. Entity

c. Field

d. File

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The cost of changing from one product to a competing product is termed _______.

Select one:

a. switching cost

b. operating cost

c. lowest cost

d. returning cost

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All of the following are competitive forces in Porter's model EXCEPT _________.

Select one:

a. customers

b. external environment

c. suppliers

d. new market entrants

In Porter's competitive forces model, which of the following forces will try to develp their own brands and impose high switching costs on their customers?

Select one:

a. Low-cost leadership

b. Product differentiation

c. Customers intimacy

d. Traditional competitors

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Which of the following industries poses the highest barriers to entry?

Select one:

a. Logistic industry

b. Aeroplane manufacturing industry

c. Supermarkets

d. Bookstores

________ is a competitive strategy for creating brand loyalty by developing new and unique products and services that are not easily duplicated by competitors.

Select one:

a. Low-cost leadership

b. Product differentiation

c. Focusing on market niche

d. Strengthening customer intimacy

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Using information systems to help in bringing down the operating costs to a minimum could lead to low-cost leadership.

Select one:

a. True

b. False

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The increasing usage of instant messaging like WeChat and WhatsApp, replacing the traditional telephone service, is an example of ______.

Select one:

a. low-cost leadership

b. substitute products and services

c. focus on market niche

d. new market entrants

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Information systems could help to identify the behavior of a particular group of valuable customers. This is an example of _______.

Select one:

a. product differentiation

b. customers' bargaining power

c. focus on market niche

d. low-cost leadership

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The more substitute products and services in the industry, the more one can control pricing.

Select one:

a. True

b. False

A supermarket with an efficient self-service machine at the checkout points collecting payments of the customers and saving lots of manpower is an example of _______.

Select one:

a. low-cost leadership

b. focus on market niche

c. strengthen supplier intimacy

d. new market entrants

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Customers are one of the competitive forces that affect an organization's ability to compete with competitors.

Select one:

a. True

b. False

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Younger workers with less experience will typically be found in companies which are _______.

Select one:

a. traditional competitors

b. new market entrants

c. traditional suppliers

d. low-cost leaders

When taxes are cut, real GDP ____ and the price level ____.

Consider Emaar Properties or a similar real estate development company located in the United Arab Emirates. Discuss how the market forces of supply and demand affect a real estate development company and what possible shifters are present in this industry. Further, discuss how elasticities and forecasting are affected for the company and industry. Consider this case during normal market circumstances as well as the current market crisis of COVID-19 or previous market crises. Finally, provide a recommendation on how and what the company should do when faced with a market crisis.

Suppose the labor force increases in size due to a large level of immigration. At the same time real interest rates in a regular economy rise. What will happen in the economy?

A consumer spends all of his income only on two goods, X and Y. His utility function is given by U=XY. The price of good X is $P and the price of good Y is $2. His income is $400.

(4) Derive the PCC (price consumption curve) of this consumer as the price of good X changes .

(3) Derive this consumer’s demand function for good X.

(3) As the price of good X falls, this consumer’s demand becomes less elastic. True or False? Explain.

A. When Reema earned AED 25,500 per month, she bought 12 Big Mac meals each month at McDonalds. Now that she earns AED 32,500 per month, she only buys 9 Big Mac meals a month. Calculate the Income Elasticity of Demand (IED) for McDonalds food.

B.  With respect to the answer in question A, state whether McDonalds food is a normal or inferior good.   

C.  With respect to the answer in question A, where are the best places to open a McDonalds store explain.