Explain why the properties of “non-exclusiveness” and “nonrivalry” imply potential market failure. Give examples with respect to some environmental and/or natural resources of your choice.

(Netherlands and Malaysia )

Discuss attempts that have been made by the authorities to reduce budget deficits post - GFC (from 2010 to 2018). Were they successful in their endeavour?

Should companies be encouraged to seek opportunities in developing nations? 75 words or more.

How has the global financial crisis (GFC) affected the budgets of the two countries ( Netherlands and Malaysia )? In your answer consider how the use of fiscal policy during the GFC impacted the budget deficit/surplus. The period of the GFC is 2007 to 2009.

Many reasons for why the United Kingdom voted to leave the European Union have been proposed. A common one is that imports from the EU hurt low-skilled British workers. Suppose that there are two industries, financial services and manufacturing. Further assume that there are two factors of production, low- skilled and high-skilled workers, and that finance is high-skill intensive and manufacturing is low-skill intensive. Further assume that the United Kingdom is abundant in high-skill labour.

Describe also how the relative output of financial services versus manufacturing in the UK changes with Brexit. Explain your answer.

Provide an example of government policy that acts as an automatic stabilizer. For the goal of stabilization policy, what advantage does automatic stabilization have over discretionary changes in government spending?

Many reasons for why the United Kingdom voted to leave the European Union have been proposed. A common one is that imports from the EU hurt low-skilled British workers. Suppose that there are two industries, financial services and manufacturing. Further assume that there are two factors of production, low- skilled and high-skilled workers, and that finance is high-skill intensive and manufacturing is low-skill intensive. Further assume that the United Kingdom is abundant in high-skill labour.

a) Show using the Heckscher-Ohlin model of international trade how relative wages for low-skilled and high-skilled workers are determined when the UK is a member of the EU (i.e. when there is free trade between the UK and the rest of the EU). Explain your answer.

b) Now suppose that the UK leaves the EU. For simplicity, we will model this as autarky (i.e. that all trade between the UK and the EU stops). How do real wages of low-skilled and high-skilled workers change (remember that the UK is abundant in high-skilled labour)? Explain your answer.

Perform a comparative analysis of the composition of the items of budget and expenditure over the 15-year period between the two countries ( Netherlands and Malaysia) and comment on how these have changed over the period.

Collect information on the budgets of each of Netherland and Malaysia for the 15 years from 2004 and 2018. You need to collect information on the major components of revenue and expenses with smaller items put into the category “others”. Determine whether the country or federal budget was in surplus or deficit in each of the years.

Briefly explain why education confers positive externality. Depict the market for education where social benefit exceeds private benefit. Explicitly show the equilibrium and socially optimal quantities.

1. Differentiate between Market Segmentation and Product Differentiation  

2. Discuss the five Bases for Segmenting Consumer Markets

Because of corona pandemic, many economies have experienced a decrease in the amount of labor it employs. Use the AD / SRAS model to explain what happens to real GDP? What happens to labor productivity?

Discuss the role of corporate social responsibility and use of corporate power in a democratic society.

4. Let’s say you work as a junior researcher in a consulting company that has been hired by the American milk suppliers association to conduct a study on the milk market. Your assignment is to predict, using the demand and supply analyses, what will happen to the price and quantity (in gallons) traded (bought and sold) under the conditions stated below. What are your predictions? Explain fully using appropriate graphs (sketch). Consider each part separately.     (12 pts)

Note: If you are unable to draw graphs electronically, you can draw them manually and submit a scanned version of your drawings.

          a. The price of comparable imported milk decreases.

   b. Consumer income in the US increases (milk is a normal good).

  c. Drought in the Great Plains reduces the supply of corn.

d. Milk producers now engage in a costly advertising program to encourage milk drinking. Assume that the advertising campaign succeeds in shifting consumer tastes toward drinking milk and that more milk producers enter the market.

e. Farmers that produce milk can choose to produce eggs and price of eggs increases substantially.

f. Improved cattle feed increases milk production. At the same time, new medical reports indicate that drinking milk reduces the risk of bone cancer.

Choose a country or location.

i) Prepare an exhaustive list of positive and negative impacts of globalisation on ageing population in a location of your choice. Note: Part i needs a list!

ii) In 150 words, briefly summarize some challenges of creating a 'healthy public policy', targeted to to address negative impacts of globalisation on the ageing population listed in Part i.

Note: You can choose one or more negative impacts listed in Part i and focus on them for Part ii.

Word limit = Part i is an exhaustive list

Part ii : 150 words