18- Find the 6 errors in the following text CHINA’S LOW WAGES Wages in China were low and remained low for a long period after market reforms began. One reason was the rapid increase in the working age population. Another reason was the Migrant Workers, people from rural areas that live in cities as second class citizens and work for low wages. They are moved to cities and ordered to work for low wages by the government. They form about 25 % of China’s nonagricultural work force. Since late 90’s real wages in China are increasing very fast. Today the wages in some parts of China are higher than in Turkey. One reason is changing population dynamics. The growth of China’s population has slowed down and population is expected to begin declining by the end of this century. China’s working age population is expected to begin declining around 2030. One reason is the One Child Policy initiated in the Mao era. To counter these changes the government has abolished One Child Policy and now allow couples to have as many children as they want. Government is also trying to encourage rural people employed in agriculture to move to cities and join the industrial work force. The percentage of the work force working in agriculture in China is higher than other countries at the same income levels, including Turkey. That is largely because agricultural production in China is done in very large scale in government farms called communes that are inefficient.

10- Two managers of a state owned enterprise in 1980’s China talking: “We will easily meet the production target assigned by the state planners of producing 50.000 tractors this year, using 80% of our production capacity. With the new regulations, we can produce motorcycles on the side… With demand high, supply low, and prices so high, we will make great profit…” What is the new regulations is he talking about related to?

Answer the question below Please in 150 - 200 words atleast

1. Explain how money evolved over the years?

5- A women, years ago in a village in China thinking before going to sleep: “Oh, I am so tired… I woke up at dawn, worked in the fields whole day, came back and worked in the village steel furnace at night… Good thing I don’t have to cook and care for the kids, the commune does that. We will catch up with England soon but will I be able to see it, working myself to death like this…” What is she living through?

13- Find the 3 errors in the following text:

A BUSINESS MEETING IN CHINA A group of managers from a multinational company planning an investment in the city of Wuhan are in a meeting with the city officials. The meeting has started with a short speech by the head of the Hubei city government while the Party Secretary of Wuhan taking notes attentively. As in every administrative unit in China, the main decision making body in Wuhan is the Party Standing Committee. However the local leadership cannot make many decisions without first asking the central government that has the power to hire, fire, and promote them. The head of the Wuhan Department of Commerce is appointed by Wuhan Party leadership. But he also says he cannot decide on anything without consulting Beijing.

Through the 2010 crisis, what do you think were the costs and benefits of staying in the euro zone for Greece?

1. Explain whether you agree or disagree with the following statement:

The education of children is obviously a public good. Educated people are more productive workers and usually have a higher degree of life-satisfaction and welfare. They are more likely to be politically engaged and have a higher sense of civic awareness. Finally, they are more likely to raise children with all these qualities. Therefore, providing education is a public good that should be supplied by the government. ?

what are the differences between the economic crisis of 2007-2009 and previous recessions? Macroeconomics.

Explain the characteristics of a parliamentary government. (Malaysia)

Russell Roberts, The Price of Everything: A Parable of Possibility and Prosperity

In chapter 10 of the story, “No Host No Problem,” Ramon accuses Ruth of “romanticizing the market” and of “romanticizing profits.” Ruth agrees but candidly replies that the market “deserves some romance.” What does she mean? (Hint: the specific tangible benefits of the invisible hand vs. short-run government policies.)

Please not the same answer again.

It is believed that the income elasticity of food is very high for the poorest countries and much lower for the richer countries. As a country becomes more developed, the income elasticity of food will decline. Why is this largely true?

Good government relations are vital. Explain how can this be undertaken successfully.

Find the effects of each of the following on the general equilibrium values of the real wage, employment, output, the real interest rate, consumption, investment, and the price level. Illustrate your answers with appropriate graphs (IS-LM-FE).

A) The expected rate of inflation decreases

B) The future marginal product of capital decreases. (Assume that there is no affect on current labor supply.)

Use supply and demand analysis to illustrate the likely effects of a hurricane in Florida on the equilibrium price and quantity in each of the following markets. a. the market for orange juice. (NB: The oranges grown in Florida are primarily used to make orange juice.) b. the market for plywood. (NB: Plywood is used to protect windows from the high winds associated with hurricanes.) c. the market for batteries. (NB: Hurricanes frequently know down power line, causing many people to be without electricity for days or weeks.) d. the market for admission tickets to theme parks in Orlando. (NB: Assume the hurricane causes heavy rain and wind throughout the Orlando area. Most of the attractions at these parks are outdoors.) e. tickets for airline travel from Florida during the few days before the hurricane makes landfall. (NB: Voluntary and mandatory evacuations are common when hurricanes threaten coastal areas.)