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- According to the CIA's World Factbook Website, in January of 2011 Swaziland surpassed Botswana as the country with the world's highest known HIV/AIDS prevalence rate. An economist would expect that an increased rate of death from HIV/AIDS would cause a country's production possibilities frontier to: shift left. get steeper. shift right. get flatter."Innovation by the Entrepreneur" argued Schumpeter, leads to gales of "creative destruction" as innovations cause old inventories, ideas, technologies, skills, and equipment to become obsolete. The question is not "how capitalism administers existing structures,…[but] how it creates and destroys them." This creative destruction, he believed, causes continuous progress and improves the standards of living for everyone." Joseph Alois Schumpeter, 1883-1950Links to an external site. In terms a little more modern than Shumpater's, Dr. Abhijeett Desai explains that the predominant form of innovation can look disruptive, but is, in fact, transformational innovation. Explore Dr. Desai's thinking in Transformative Innovations vs. Disruptive InnovationLinks to an external site..Which of the following are made constant when applying the production possibilities curve theory? Select one: a. Trading rate between goods b. Total exports and imports c. Total number of factors of productions d. International pricing
- What does integration of Economies mean?More than 200 years ago, Adam Smith argued that the wealth of nations depends upon gains from (a) specialization and trade, (b) expanding the size of the market, and (c) discovering better (more productive) ways of doing things. Explain why you either agree or disagree with Smith's view.In The Wealth of Nations (1776), Adam Smith wrote, “The most decisive mark of the prosperity of any country is the increase in the number of its inhabitants.” How would Smith’s view have to be revised today? How would you explain the change to Smith?
- Explain what is “Cointegration” with an economic example. Explain what is meant by “cointegration relationship between Y and X” and “Y and X are cointegrated.mya and donovan produce two goods in an 8 hour day.Mya can produce 10 capital or 55 consumables and Donovan can produce 75 capital or 60 consumables. What is the opportunity cost for capital?Mya and Donovan produce two goods in an 8 hour day. Mya can produce 10 capital or 55 consumables and Donovan can produce 75 capital or 60 consumables. What is the opportunity cost for capital?
- Assume that a country with a market economy produces capital goods and consumer goods, use the data that follows to answer the question that follows: Capital Goods Consumer Goods 50 0 40 20 30 35 20 45 10 50 0 51 Does the “law” of increasing opportunity cost apply in the…Describe and contrast market economies, planned economies and mixed economies. please answer this question ASAP in your owm words. because i cannot write the copied answer in my exam. please ans ASAPSirius XM acquired Pandora, was this about scope or scale economies? How does economies of scale and scope differ, and how is growth in this case created from either an economy of scope or scale?