Category: Economics

We have data on life expectanky for a large number of countries. Ule expectancy is measured In years. Dupenditures are overall health expenditures. We also have data on GDP per capita (measured in thousands of US 2010 dollars) and six dummy varlables indicating region (EastEur = 1 for countries from Eastern Europe, LatinAmerica = 1 for countries in Latin America, Asia =1 for countries in Asia, NorthAm =1 for countries from North America, etc). We estimate the following regression, where dummy variables for all regions except North America are included, and obtain the following results:Life Expectancy =72.30 0.29 Expenditures 0.023 GDPpe 2.08 East Eur
Suppose we had instead excluded Middle East (and included North Americal). What would be the (approximate) value for the coefficients of the following variables (enter your answer rounded to two decimal places):
The estimated intercept would be ◻ , the coefficient on expenditures would be ◻ , the estimated coefficient on the NorthAm dummy variable would be◻ and the estimated coefficient on the Eastern Europe dummy variable would be ◻

Suppose that leather is sold in a perfectly competitive industry. The industry short-run supply curve (marginal cost curve) is \( P=M C=3 Q \), where \( Q \) is measured in millions of hides per year. The demand for leather hides is given by \( Q=(60 / 7)-(P / 7) \).
Find the equilibrium market price and quantity sold. (5 points)
Suppose that the leather tanning releases chromium and other pollutants into local waterways. The external marginal cost is estimated to be \( \$ 4 \) for each hide produced. Calculate the socially optimal level of output and price for the tanning industry. (10 points)
Suppose the government imposes a tax of \( \$ 4 \) on every hide of leather sold. (Remember, the externality was equal to \( \$ 4 \) per hide.) How many leather hides would be sold, what price would buyers pay, and what price would sellers receive (net of the tax)? (10 points)

Imagine that you work in a health-policy consultancy firm. You have been hired by the government of a small island off the UK coast that is completely new to evaluating its policies.You must provide advice on a plan to roll on an ad-free calorie-check app to all adult residents which enable them to scan any food or drink product or menu and get information on its calorie content and health risks, in grocery shops or restaurants. They are looking for a budget-neutral policy over time (they are happy to consider some subsidies to retailers and restaurants to help with the calory-counting system, at least temporarily).Write a briefing to be submitted to the government that:
describes in general terms the purpose of doing evaluations and the types of evaluation the government might want to consider
articulates a plausible ultimate goal of the policy and suggests a theory of change for how such an app might achieve that goal
suggests a design for an impact or economic evaluation, including the type of data that would need to be gathered and any distributional and ethical issues you have considered.

OF In the project, students are required to FIND JOURNAL ARTICLE MACROECONOMIC ISSUES OR PROBLEMS (i.e. Unemployment rate, inflation, Gross domestic product, Trade balance etc.) of a country OR firm.
The project must include: REPORT u0026 POWER POINT FOR PRESENTATION
i. Introduction Provide an introduction to the chosen issue/problem.
ii. Literature Review
• Elaborate on the existing body of research and academic literature related to the chosen macroeconomic issue or problem
● ● Summarize the key theories, concepts, and empirical findings from the literature that are relevant Identify any existing gaps or controversies in the literature that your study aims to address.
iii. Analysis –
• If the chosen journal article includes graphs, mathematical equations, statistical data, or figures, clearly explain and interpret it in your analysis. Discuss their implications and relevance to the macroeconomic issue or problem.
• If the journal article does not include visual aids, consider using relevant data or graphs from other sources to supplement your analysis. Ensure that you cite the sources appropriately.

Wireless technology has changed lives across the globe. In fact, some developing economies have skipped a step in traditional technological development. Rather than developing a wired communication network first, they have bypassed that step and developed cellular towers instead. The seemingly infinite worldwide demand for smart phones has presented tremendous opportunities for the companies that design and manufacture them. Because many people in developing countries are poor, these smart phone providers have to find ways to make their phones as inexpensive as possible so that people can afford them. As a result, U.S.-based manufacturers of smart phones have been looking for ways to greatly decrease their costs. Based on this scenario, what is one likely drawback of the worldwide demand for smart phones?
Multiple Choice
Poorer countries become even poorer.
Jobs will be lost in developed countries as production moves to developing countries.
Less information is available.
The price of smart phones will keep rising.
Companies no longer have an incentive to invest in improved smart phone technologies.

FOLLOW THESE INSTRUCTIONS! Submit electronically via email as a single PDF document (NOT SEPARATE PDF DOCUMENTS) and do not use OneDrive, Google Docs, Dropbox, etc. In addition, make sure that your responses are provided neatly and clearly. If you fail to follow these instructions, then your exam will not be evaluated.
SHORT ANSWER SECTION
The medication Ozempic is a drug designed to treat type 2 diabetes. Not long after its FDAapproved release, this medication was found to be an effective weight-loss drug. Explain in detail how the market for Ozempic theoretically responded to this finding.
Explain why clean air is a public good, but the Interstate highways around the Twin Cities (35E, 35W,94,494,694, and 394) are not.
What is meant by tax equity in economics? Explain.
Explain why the low-skill labour market is an example of a Perfectly Competitive market environment.
How do we know that imperfectly competitive businesses price their products in the own-price elastic regions of their respective market demands? Explain.
ANALYTICAL SECTION
An issue college students always seem to face is affordable housing. In some

Requirement 3.
Based on the 2018 survey, Nancy Tremont believed that Corwin had to improve product quality. In making her case to Corwin management, how might Tremont have estimated the opportunity cost of not implementing the quality-improvement program? Select two ways Nancy Tremont could have estimated the opportunity cost of not implementing the quality-improvement program.
She could have assumed that sales and market share would continue to decline if the quality program was not implemented and then calculated the loss in revenue and contribution margin.
She could have assumed that the company would have to compete on price rather than quality and calculated the impact of having to lower product prices.
She could have assumed that the company would have to compete on price rather than quality and calculated the impact of having to increase product prices.
She could have assumed that sales and market share would continue to increase if the quality program was not implemented and then calculated the increase in revenue and contribution margin.