ECON 1000 Midterm: ECON 1000 Kennesaw State ECON1000 Spring2018 Exam2A Key
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The brain drain refers to the tendency for the most highly talented people from developing countries to become educated and then move to an already wealthy country. The _________________ function of government refers to government policies aimed at changing the final apportionment of goods/services across consumers, usually with the intention of realizing a fairer allotment of consumption/income/wealth. The efficient level of trade is defined as the level of trade which maximizes total social surplus. The catch-up effect suggests that, all other factors fixed, growth rates of less developed countries typically exceed growth rates of developed countries, implying that the gap in gdp between less developed and developed countries will decrease over time. Focusing on the unemployment rate in the united states (reported on a monthly basis) between. January 1948 and december 2015, the highest realized level was a rate of. Good y is non-rival in consumption and non-excludable.
