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6 Aug 2019

Using the most recent available rankings of Economic Freedom available at http://www.heritage.org/index/ranking, indicate five of the world's economies that are the most free. Using textbook information, indicate how income levels and growth rates of freer economies compare with those that are less free.

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Jamar Ferry
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6 Aug 2019

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Principles of Economics
2nd Edition, 2017
Openstax
ISBN: 9781947172364
Principles of Macroeconomics
2 Edition,
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ISBN: 9781947172388
Principles of Microeconomics
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Related questions

Retrieve the most recent World Economic Outlook (WEO) from the website of the International Monetary Fund. In the Statistical Appendix, find the table titled "Balances on Current Account" which lists current account balances around the world. Use the data from the most recent year available to answer A through C.

Link: http://www.imf.org/external/pubs/ft/weo/2015/01/pdf/text.pdf

(Tables A 9 and A 10)

A) The sum of current account balances should equal zero. What does this sum actually equal? Why does this sum indicate some mismeasurement? (i.e. if the sum were correct, what would it imply)?

B) What are 2 countries that are borrowing? What are 2 countries that are lending?

C) Compare the U.S. current account balance to the current account balances of the other advanced economies. Is the United States borrowing only from advanced economies?

Transparency International's Corruption Perceptions Index (CPI) is a comparative assessment of a country's integrity performance. Provide a brief analysis (not a description) of this index and its ranking using concepts from the readings and lectures. Using the most recent data, identify the five countries with the lowest and the five with the highest CPI scores according to this index. What are the trends and similarities between CPI scores and the level of economic, political, and social development of a country? Specifically, what institutional aspects or characteristics of governmental structure are common among the countries listed at the top and bottom?

Please answer all of the following multiple choice questions... Thankyou!

1. International officials and business leaders have gathered to discuss free-trade policies. Outside their summit, protesters shout, "People before profit." These activists most likely align with which economic theory? (5 points)
Adam Smith's unregulated supply and demand
John Maynard Keynes's limited government intervention
John Maynard Keynes's mixed market forces
Karl Marx's collapse of capitalism
2. Marx would most likely support a plan for (5 points)
government ownership of most production
creating a worldwide free trade agreement
eliminating income taxes on the wealthy
income taxes based on ability to pay
3. Supply and demand determines prices levels for goods and services in a (5 points)
market economy
traditional economy
demand economy
command economy
4. Which of the following describes a developed/advanced nation? (5 points)
A high gross domestic product and a low per capita income
A high Human Development Index and a high per capita income
A low gross domestic product and a low standard of living
A low Human Development Index and a high standard of living
5. Development may be inhibited in command economies because (5 points)
government controls productivity
businesses focus on subsistence agriculture
businesses prevent specialization
individuals prohibit industrialization
6. Which of the following economic goals focuses on funding technological advances in production? (5 points)
Efficiency
Equity
Freedom
Security
7. The government institutes a new job-training program to prepare economically disadvantaged citizens for higher-paying, technologically advanced jobs. This action benefits the goal of equity by (5 points)
ensuring workers are more productive
helping minimize the education gap
raising government spending
reducing unemployment

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