Explain what it means by the term "economies of scale." Define economies of scale and explain why they might arise. Define diseconomies of scale and explain why they might arise. Define and explain the following term and provide an example: Economies of Scale ...
Explain the term consumer's surplus as it is used in macroeconomics. This question is on the consumer theory. a. Explain in detail what economists mean when they state that consumers are rational. Is it rational for a particular consumer to spend most of his/her incom ...
The paper develops a theoretical specification that integrates geographic scale economies into the Heckscher–Ohlin model, and develops a statistical method for detecting geographic scale economies in the distributional features of a disturbance term. The units of analysis are US states. The findings ...
Briefly define the term, "Benefit Reduction rate (Also known as taxback and clawback rate)," and explain why it is important for social policy and/or social policy reform. Describe the effect of the differences in discount rate on differences in earnings and schooling. ...
While the regulation could benefit minority shareholders, there are reasons to question its effectiveness. Controlling shareholders who choose to pay dividends can still expropriate in other ways, harming a company’s long-term performance. And firms that opt to host conference calls may use the disc...
The issue is considered not in terms of short run crises—for example resulting from the aftermath of the terrorist attacks in the US—but rather looks at longer-term trends. In particular, the paper picks up the threads of a debate that have intermittently entered into policy consideration ove...
In order to explain such a divergence between rich and poor countries, the early economists were obsessed with culture, a catch-all term encompassing a society’s beliefs, preferences and values. Adam Smith, the author of “The Wealth of Nations”, explored the ways in which culture helped or...
It has been evident that the tourism sector suffered adverse effects as most countries insti- tuted disease containment policies such as short and long-term international border clo- sures and in-country lockdowns to control the virus's transmission (Maier and Brockmann 2020). This resulted in...
4 The term Shariah refers literally to the beliefs and institutions or rules of behaviour of any society, but has now become associated with those prescribed by Islam. 5 The same advice is repeated on p.287 (R: II, 105). Ibn Khaldun himself says that his book is a tafsir (elaboration)...
Just as Birkeland's work on the physics of aurorae may be said to be 'pioneering', even though most of the details of his model (to use the modern term) are now known to be wrong, Battaner and Florido use the same word ('pioneering') when referring to Peratt, even though t...