1. What are the key factors that limit the ability of many developing countries to deploy taxation as a tool to reduce inequality and provide social security to the vulnerable groups?

1. Describe any three policy recommendations that you would offer to developing countries in order to enable them to benefit from international trade.

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.)

    What is the parable of the story of Ramon, Amy and Professor Ruth Lieber? In other words, what is Russell Roberts’ main thesis? In your answer, you must explain the concept of “emergent order” and describe the role that prices play in creating this emergent order, fully supported by applying supply and demand analysis.

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

In the story, Professor Lieber states emphatically, “no one can make a pencil.” 1) Give a detailed explanation of why this is true, and 2) why, in spite of “no one in charge,” just the right amount of pencils gets made anyway. In part 2 of your answer, you must apply the basic economic logic of supply and demand analysis to describe and explain the argument.

In the story, Ramon Fernandez initially found it repugnant and unfair that the price of a flashlight at “Big Box” would increase so dramatically after the earthquake; that is, until he met Professor Ruth Lieber.  Apply the basic economic logic of supply and demand analysis to describe and explain the economic benefits of allowing prices to rise, sometimes by a large amount, in the aftermath of a natural disaster, such as an earthquake, hurricane, or tornado.

What is the parable of the story of Ramon, Amy and Professor Ruth Lieber? In other words, what is Russell Roberts’ main thesis? In your answer, you must explain the concept of “emergent order” and describe the role that prices play in creating this emergent order, fully supported by applying supply and demand analysis.

How does globalization increase systematic risk? How might globalization decrease systematic risk? Please, a very detailed answer will be very appreciated

Background: There are 4-5 pharmaceutical companies (mainly from China, Germany, and the USA) that are researching a cure/vaccine for corona – hopefully, one of these companies will have a solution for the world shortly– in the meantime, some governments are proposing for alternative treatments medicine like CHLOROQUINE (originally used to treat Malaria)

One company finally succeeds in producing the vaccine. Describe or explain in detail the following situations. ( 15 points ) :

a) What is the new market structure this Pharma company belongs to now ? Why ?

b) List the 5 market structure characteristics for a Monopoly and explain the relation to the Corona vaccine .

c) How does Initial supply and demand look like for the new vaccine? (what about initial elasticity and price ?)

d) How happens in Long term for supply and demand if new pharmaceutical companies find a similar vaccine ? (what about long term elasticity and price under the same conditions ?)

e) Describe what happens to Economic profits in the initial phase and the long term

f) Explain how the creative destruction concept applies (from Chloroquine to Corona vaccine) . Are there any benefits to everyone from having a Monopoly?

How are the three versions of the Solow Growth Model different?

Why do you think we need three different versions of the same model? (Hint: Steady-state growth rates)

What is convergence and conditional convergence? Give examples.  

what has happened to wealth inequality in the U.S. in recent years? what accounts for those changes?

How can interest groups influence a candidate’s campaign agenda?

A driver going to the city center has the choice between a small road and the highway. The small road takes 25 minutes (1500 seconds) and is never affected by traffic. The highway takes only 15 minutes (900 seconds) but travel time increases by 2 seconds every time a new person gets in it. The travel time on the highway is therefore 15 minutes + 2 seconds per entrant.

1. Explain why Net Benefits (NB) = 0 at the Tragedy of the Commons. Hints: What would happen if NB > 0? Think of the Net Benefits as the Average Net Benefit (for each driver) multiplied by the number of drivers (NB = ANB*N).

Given the following supply and demand equations, solve the following

supply: p=q

Demand: p=200-p

a) What is the market equilibrium price and quantity?

b) What is the Consumer surplus and the producer surplus?

c) The government enacts a price ceiling of $120. What is the new consumer surplus?

d) Assume now the government enacts a price ceiling of $20. What is the new consumer surplus?

e) When the price ceiling is $20, consumer surplus declines, compared to the market equilibrium. Why? (this question gives answer options)

1. The lower prices do not overcome reduced quantity

2.The lower quantity does compensate for higher prices

3. Both 1 and 2

4. The lower prices create a marginal elasticity of demand

f) What is the deadweight loss from the price ceiling of $20?

g) What is the Producer Surplus under a price ceiling of $20?

Thank-you in advance for the help!!!