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Discuss the role of poverty in economic development. In your discussion, define poverty, discuss how it is measured, discuss the human cost of poverty and discuss the vicious cycle of poverty, VCP.
Briefly discuss poverty in the United States. Include in your discussion the short-run and long-run poverty alleviation policies in the United States.
In: Economics
Of the 17.4 million overnight stays in Denver 477,000 guests chose Airbnb. This represents 2.74% of guests choose an Airbnb. In contrast, of the 8.420 billion overnight stays in the United States 33.9 million choose an Airbnb. This represents .40% of guests choose an Airbnb. Is there a statistical difference of Airbnb users in Denver compared to the United States?
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(a) Microorganisms play a role in the formation of hardness in groundwater. True or false? Explain.
(b) In the United States, chlorine is preferred as a disinfectant
over ozone because it has a residual. Why is the presence of a
residual important? In recent years ozone has been replacing
chlorine as the primary disinfectant in the United States. What are
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The United States is said to have the most expensive healthcare system in the world, but only ranks 37th in comparison to other nations in the quality of the health care delivered. In what ways does the United States have better health care than other nations? Cite at least four examples ?( just 200 words )
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In: Finance
Global institutions (i.e. UN, IMF, et al) require the consent and cooperation of their member states. Recently, the United States has withdrawn from several (e.g. WHO and the Paris Climate Accord), threatened to withdraw from others (e.g. WTO and NATO), and choose not to participate in the Trans-Pacific Partnership. Can global institutions effectively carry on without the world’s largest economy, that is, the United States? What might be the alternative consequences for such institutions?
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Describe and analyze the relative importance and the interaction of the “two Chinas,”[i] the Soviet Union, the United States, and the United Nations during the Korean War.
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8. Purchasing-power parity
Using data from The Economist's Big Mac Index for 2016, the following table shows the local currency price of a Big Mac in several countries as well as the actual exchange rate between each country and the United States. At the time of the data collection, a Big Mac would have cost you $4.93 in the United States and GBP 2.89 in the United Kingdom. The actual exchange rate between the British pound and the U.S. dollar was $1.63 per pound. The dollar price of a Big Mac purchased in the United Kingdom was, therefore, computed as follows:
| Dollar price of a Big Mac in the United KingdomDollar price of a Big Mac in the United Kingdom | = = | GBP 2.89×$1.63GBP 1.00GBP 2.89×$1.63GBP 1.00 |
| = = | $4.71$4.71 |
For the price you paid for a Big Mac in the United States, you could have purchased a Big Mac in the United Kingdom and had some change left over for fries!
Complete the final column of the table by computing the dollar price of a Big Mac for the countries where this amount is not given.
Note: Round your answers to the nearest cent.
|
Big Mac Index: January 2016 |
|||
|---|---|---|---|
| Local Price | Actual Exchange Rate | Dollar Price | |
| (Foreign currency) | (Dollars per unit of foreign currency) | (Dollars) | |
| The Eurozone | 3.72 | 1.10 | |
| Switzerland | 6.50 | 1.02 | |
| United Kingdom | 2.89 | 1.63 | 4.71 |
| Poland | 9.60 | 0.36 | 3.46 |
| China | 17.60 | 0.16 | 2.82 |
Source: “Currency Comparison, To Go,” The Economist, last modified January 7, 2016, accessed July 8, 2016, http://www.economist.com/blogs/graphicdetail/2016/01/daily-chart-7.
Purchasing-power parity (PPP) theory states that exchange rates would need to equalize the prices of goods in any two countries. For the dollar price of a Big Mac to be the same in both countries, a U.S. citizen would need to be able to convert $4.93 into exactly GBP 2.89. To find the exchange rate at which hamburger purchasing power is the same in both countries, divide the price in the United States by the price in the United Kingdom:
| PPP Exchange Rate (U.S. Dollars per British pound)PPP Exchange Rate (U.S. Dollars per British pound) | = = | $4.93GBP 2.89$4.93GBP 2.89 |
| = = | $1.71 per pound$1.71 per pound |
The exchange rate that would have equalized the dollar price of a Big Mac in the United States and the Eurozone (that is, the PPP exchange rate for Big Macs) is . This change would mean that the euro had against the dollar.
If Big Macs were a durable good that could be costlessly transported between countries, which of the following would present an arbitrage opportunity? Check all that apply.
Exporting Big Macs from Switzerland to China
Exporting Big Macs from the Eurozone to the United States
Exporting Big Macs from the United Kingdom to Poland
In: Economics