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economics homework




Question;Multiple Choice: Please choose the best answer among the;following choices. Each problem is worth 2 points.;1. Which;of the following is LEAST likely to lead to economic development occurring in;Afghanistan?;The opening of 500 hospitals throughout;the country that increases health levels and thereby life expectancy;The renovation and expansion of 500;elementary schools throughout the country that increases the quantity and;quality of education and so increases the knowledge held by the population;Discovery and mining of oil in the country;The provision of safe drinking water to tens;of thousands of homes across the country;The provision of electricity to tens of thousands;of homes across the country;2. Which of the following is;true?;Economic growth is a necessary and;sufficient condition for economic development.;Economic growth (according to economist;Angus Maddison) was unchanged from the year 1000AD to 1820AD.;Economic growth is like the inflation;rate. It is optimal when it is positive but very small.;Whether large or small, economic growth is;always a good thing.;None of the above is true.;3. Which of the following is;false?;A country may have the same HDI as another;country and yet we would not consider them to be equally developed;We discussed several countries including;their flags to demonstrate how similar the challenges were each overcame;in order for each to either become developed (as in the US or Switzerland);or to be developing quickly (as in Botswana and China);A seemingly small difference in annual;growth rates such as between 3% and 10% can make a huge difference in the;long run;A major reason why some statistics are;preferred over others is because of convenience;None of the above is false.;4. Which of the following is a;similarity between GDP, HDI and the measurement discussed in lecture of a;country?s wealth?;They all are specifically used to measure;development;Each is far easier to use than the MDG;Each faces the criticism of excluding;important information;b and c;a, b and c;5. Please calculate the GDP;for Mauritius using the method that avoids the exchange rate conversion problem;(i.e., accounts for the difference in non-tradable prices) using the;information below;Q of laptops = 100;P of laptops = 60,600 Mauritian Rupees;P of laptops in US = $1,000;Q of bus tickets = 20,000;P of bus ticket = 50 Mauritian Rupees;P of bus ticket in US = $2.50;Official exchange rate (as of September 12) = 60.6 Mauritian Rupees per;dollar. The GDP for Mauritius is;$116,500;$120,000;$150,000;$170,600;Not enough information;Short Answer: Please answer the questions as best you can. You;will be graded primarily on the quality of your answer rather than the amount;you write. In terms of quality, the most important is to use the concepts and;knowledge presented in lecture.;Your grade;will also be determined partly by effort. Effort requires some reasonable;attempt at an explanation so do NOT provide one word answers such as Yes or No;unless the question specifically asks for it. Each problem is worth 10 points.;6. Suppose you have the following information;Life Expectancy = 81.4;Mean Years of Schooling = 11.8;Expected Years of Schooling = 17;Nation?s GNI per capita = $30,345;a.;Please calculate the country?s HDI.;b.;How would you classify its HDI (low, medium, high;or very high)?;c.;Suppose in the next election in South Korea;there is a huge increase in the number of women elected to office in the;country?s National Assembly (its legislature). What is the effect on HDI?;7. I have included on;TITANium the article ?Divergent Development: Pakistan and Bangladesh? concerning;a comparison between Pakistan and Bangladesh. It is mentioned that Pakistan is;a country ?with growth but not development.? Please explain how the author;makes the case for this statement.;8. Consider Afghanistan from 1978 to 1988. Suppose that;during this period which covers the Afghan-Soviet war that the productivity of;the inputs of labor and capital increased. However, at the same time, a lot of;capital was destroyed and millions of agricultural workers died or fled to;neighboring Iran and Pakistan by 1988.;First, draw a graph (horizontal and vertical axes) and then;draw the production function for 1978 and mark a point A somewhere on it.;Second, on the SAME graph draw another production function for 1988 and draw a;point B that reflects the changes described above.;Determine the following: is the output per worker at point B;definitively higher or definitively lower for 1988 than point A for 1978 or is;it unclear?


Paper#56453 | Written in 18-Jul-2015

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