What is "shared growth," and what kind of institutions are required for its success?
What will be an ideal response?
The shared growth concept is the World Bank's explanation of how development policy has been shaped in some East Asian economies. Students can develop this explanation and note the institutions that were required, including relations between government and business and how labor fit (or didn't fit) into the picture.
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Use the graph below to answer the next question.
Other things equal, an increase in labor productivity would cause a
A. move from a to b on D1. B. move from b to a on D1. C. shift from D2 to D3. D. shift from D3 to D2.
Which of the following is true of the consumption function? a. A decrease in flat tax results in an upward shift of the consumption function
b. An increase in interest rates results in an upward rotation of the consumption function. c. An increase in the expected future income results in an upward rotation of the consumption function. d. A decrease in the marginal propensity to save results in a downward shift of the consumption function.
Vertical equity can be determined by comparing the
A. Marginal tax rate of the taxpayer with the highest nominal income to the marginal tax rates of taxpayers with lower nominal incomes. B. Effective tax rate of the taxpayer with the highest nominal income to the effective tax rates of taxpayers with lower nominal incomes. C. Effective tax rates for two taxpayers with the same nominal incomes. D. Marginal tax rates for two taxpayers with the same nominal incomes.
Recall the Application about craft beer and the increase in the price of hops to answer the following question(s).According to this Application, between 2012 and 2017, the increase in craft beer production increased the price of hops:
A. from $3.17 to $3.92 per pound. B. from $3.17 to $5.92 per pound. C. from $3.92 to $5.17 per pound. D. from $4.17 to $5.92 per pound.