ECON 1000 Midterm: ECON 1000 Kennesaw State ECON1000 Summer2018 Exam2B Key
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Lower income countries which are held back by some combination of poor economic institutions, undeveloped industrial capital, and/or an uneducated or unskilled workforce (e. g. , india, ghana, Bangladesh, and the democratic republic of the congo) are referred to as. Deadweight loss refers to the difference between maximum possible total social surplus and realized total. A good is non-rival if consumption by one person does not diminish the quantity/quality of consumption by others. Consider two countries that each have a per capita gdp of ,000 in 2018. Country a realizes a constant 12% increase in per capita gdp each year, while country b realizes a constant 8% increase in per capita gdp each year. Given these constant rates of increase, in 2036 (i. e. , 18 years in the future), per capita gdp will be approximately. ,000 in country a and ,000 in country b. Ilan moschidae owns nikola motors, a company that produces electric cars.
