Category: Economics

➤ Why might voters prefer trustee representation?
Voters may favor trustees when issues require technical knowledge, ethical judgment, or protection of minority rights. Trustees can weigh evidence, consider future impacts, and resist short-term popular pressures. Voters trust representatives to use expertise for the common good, especially on complex matters like foreign policy, climate science, or budgeting, where immediate public opinion may be uninformed or volatile.

16Which of the following countries fell victim to contagion during the 1997 Asian financial crisis?
Multiple Choice00.25:4
Indonesia, Malaysia, and the Philippines
South Korea, Malaysia, and Talwan
Indonesia, South Korea, Malaysia, Talwan, and the Philippines
Indonesia and Taiwan

Question 2Find all of the pure strategy Nash Equilibria of this game. There can be more than one equilibrium. [Here ((Not Play,Steal),(Trust)) indicates that player 1 chooses Not Play at the first decision node and Steal at the second decision node, and 2 chooses Trust at his unique decision node.]

➤ When have critics claimed the Fed has too little power to control the economy?
Critics raised that point during prolonged low-inflation eras and when interest rates hit the zero lower bound, such as after the 2008 financial crisis and parts of the 2010s. They argue monetary tools alone cannot restore demand and that fiscal policy or regulatory reform must complement the Fed’s actions.

What are the objectives of the WTO? Are the economic development of developing countriesand environmental protection objectives of the WTO? Explain. What is the legal signifi -cance of the Preamble to the WTO Agreement ? What are the main instruments, or means, ofthe WTO for achieving its objectives?

Question 18 (3’)In a Solow model with a general form of production function with constant returns-to-scale,faster technology progress will induce
A) higher golden rule of saving rate
B) lower golden rule of saving rate
C) unchanged golden rule of saving rate
D) any of the three possibilities above.

➤ How does American individualism clash with Asian collectivist market norms?
American individualism centers on personal freedom, self-expression, and competition. Many Asian cultures prioritize collective welfare, family ties, and social harmony. When brands promote rugged individual choice or confrontational competition, audiences can perceive them as undermining social cohesion. Sensitive messaging emphasizes community benefits, shared status, and collaborative value instead.

When two economic goals are in conflict, this means that __________.
Question 37 options:
both goals are not economic goals
there is a trade-off in achieving both goals
when one goal is achieved, so is the other goal
trial by combat determines which goal wins
both goals cannot be achieved at the same time