1) The inverse demand curve for a nonrenewable resource is given by Pd=14-0.25q, and the supply curve is Ps=7+0.
September 3, 2020
Suppose that Congress imposes a tariff on imported autos to protect the US auto industry from foreign competition.
September 3, 2020

Read the FT article on the usefulness of GDP as a gauge of economic health available on Wattle. a) Why may GDP growth alone not be an adequate measure of economic health? b) The author proposes to focus on median (real) GDP as a measure. How is this different from per capita GDP? c) If you were assigned the task to reliably track living standards in your home country what measure(s) would you use? Why?

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