Economics Answers

Suppose that 10 people live on a street and that each of them is willing to pay $2 for
each extra streetlight, regardless of the number of streetlights provided. If the cost of
providing x streetlights is given by 2 C(x)  x , what is the Pareto efficient number of
streetlights to provide?

Note: Refer to case "Search Engines In Search of Fair Play" to answer the following questions.
1. Can Google be characterized as a monopoly? Justify your answer by specifying and comparing the characteristics of a monopoly with those of Google. [2]
2. Why it is not against competition law to have a monopoly? [2]
3. In your view, is Google pursuing anti - competitive (monopoly) practices, why ? [3]
4. What are the possible outcomes if Google's anti-competitive (monopoly) practices are not curbed? [3]

III. Suppose the government wants to control the use of the commons, what method exist for achieving the efficient level of use?

The end of the Cold War in 1990 led to large decline in defence spending in many countries
This event caused a shift in ______ in Canada causing ____in equilibrium real gdp and ___in the price level

Many industries face shocks (negative or positive). Dairy farmers, for example, faced hardship to deliver the products to the consumers and had to dump milk. Whereas some grocery stores were with empty shelves or imposed quota per customer. See

https://wskg.org/news/dairy-industry-upended-by-covid-19/ (Links to an external site.)

What do you think are the elements of rigidity in the short run for the industry? What kind of policy can alleviate the impact of the shock?

Define Balance of Payment (BoP). State the major components of BoP.
What is effect on BoP of two countries, if inflation rate in country A is higher than country B?
Differentiate between devaluation of a currency and depreciation of a currency.

suppose the government wants to control the use of commons,what method exist for achieving the use efficient level of use

Most development economists now seem to agree that the level and rate of growth of GNI and per capita income do not provide sufficient measure of a country’s development. What is the essence of their argument? Give some examples to support your viewpoints.

What contribution does Rostow’s stage theory make to an understanding of the development process?

What accounts for the fact that a close association exists between industrial growth and the growth of GDP?