According to the BCG matrix, Apple's MacBook, with a consistent market share and steady revenue, would be considered a "cash cow" for the company.
Cash cows are products that have a high market share in a mature, slow-growth industry. They generate a significant amount of cash flow for the company but require little investment to maintain their market share.
The BCG matrix is a tool used by marketers to evaluate a company's portfolio of products or business units. The matrix categorizes products or business units into one of four categories based on their market share and growth rate. These categories include stars, cash cows, question marks, and dogs.
The MacBook has been around for over a decade and has a strong and loyal customer base. The laptop market is relatively mature, and the MacBook's growth rate has slowed down. However, the MacBook continues to generate significant revenue for Apple and requires little investment to maintain its market share. As a cash cow, the MacBook can be used to support other products in Apple's portfolio, such as the iPhone and iPad, which are in higher growth industries.
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As consumers' income increases, we could expect the demand curve to
Shift rightward or outward, indicating an increase in demand. When consumers' income increases, they have more purchasing power, which can lead to increased demand for goods and services.
The relationship between income and demand is a well-established concept in economics. As consumers' income increases, they have more money to spend on goods and services, which can lead to an increase in demand. This is known as the income effect. For normal goods, which are goods where demand increases as income increases, the demand curve will shift rightward or outward as income increases. This means that at any given price level, consumers will demand more of the good or service. In contrast, for inferior goods, which are goods where demand decreases as income increases, the demand curve will shift leftward or inward as income increases.
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The Federal Reserve is able to have an impact on financial crises because it:
The Federal Reserve has a number of potent weapons at its disposal, which allows it to have an impact on financial crises. The health of the US financial system and the larger economy depends on the Fed's capacity to manage financial crises.
As the central bank of the United States, the Fed is responsible for maintaining the stability of the country's financial system, which includes managing the money supply, regulating banks, and providing emergency liquidity to financial institutions.
One of the primary ways the Fed can influence financial crises is through monetary policy. By adjusting interest rates, the Fed can either stimulate or slow down economic growth, which can have a significant impact on financial markets. For example, during times of economic contraction, the Fed may lower interest rates to encourage borrowing and spending, which can help stimulate the economy.
The Fed also has the ability to provide emergency funding to banks and other financial institutions that are experiencing liquidity problems. This can help prevent the failure of these institutions and limit the spread of financial instability throughout the system.
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a fixed sample of respondents who are measured repeatedly over time, but on variables that change from measurement to measurement
A fixed sample of respondents refers to a group of individuals who are selected for a research study and remain constant throughout the study's duration.
This means that no new participants are added, and no existing ones are dropped from the sample. In such a study, these respondents are measured repeatedly over time on variables that change from measurement to measurement.
The measurement of variables refers to the collection of data using various techniques and tools such as surveys, interviews, or observations. In a fixed sample study, the same respondents are measured repeatedly over time, which helps researchers to understand how these variables change over time.
For example, a study might examine the effects of exercise on weight loss by measuring the weight of the same individuals at different intervals. In this case, the sample of respondents remains fixed throughout the study, and the measurement of the variable (weight) changes over time.
Fixed sample studies have advantages over other research designs as they allow researchers to track changes in individual respondents over time, enabling them to detect trends and patterns that would be difficult to observe in cross-sectional studies.
However, such studies may be time-consuming and expensive, as they require ongoing data collection from the same group of individuals.
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A good’s demand is given by: P = 702 – 4Q. At P = 57, the pointprice elasticity is: Enter as a value (ROUND TO TWO DECIMALPLACES).
Point price elasticity at a price of 57 is -1.41.
How to calculat point price elasticity at a price of 57?We can start by finding the quantity demanded at a price of P=57:
P = 702 - 4Q
57 = 702 - 4Q
4Q = 645
Q = 161.25
So, at a price of 57, the quantity demanded is 161.25.
To find the point price elasticity at this price, we need to use the following formula:
E = (dQ/dP) * (P/Q)
Where:
dQ/dP = the derivative of quantity demanded with respect to price
P = the price
Q = the quantity demanded
Taking the derivative of quantity demanded with respect to price, we get:
dQ/dP = -4
Plugging in the values we found earlier, we get:
E = (-4) * (57/161.25)
E = -1.41 (rounded to two decimal places)
So the point price elasticity at a price of 57 is -1.41.
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g what return on equity do investors expect for a firm with a $52 share price, and expected dividend of $4.70, a beta of 0.9, and a constant growth rate of 3.6%? enter the return as a percent rounded to two decimal places.
Investors expect a return on equity of approximately 9.04% for the firm.
To calculate the expected return on equity for a firm, we can use the Dividend Discount Model (also known as the Gordon Growth Model). The formula for the expected return on equity (r) is:
r = (D1 / P0) + g
where D1 is the expected dividend, P0 is the current share price, and g is the constant growth rate. Plugging in the values provided:
r = ($4.70 / $52) + 3.6%
r = 0.09038 + 3.6%
Now, we need to convert the result into a percentage and round it to two decimal places:
r = (0.09038 + 3.6%) * 100
r ≈ 9.04%
Thus, investors expect a return on equity of approximately 9.04% for the firm.
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The introduction of a union into an industry creates a:
a. surplus of labor and so raises unemployment.
b. surplus of labor and so reduces unemployment.
c. shortage of labor and so raises unemployment.
d. shortage of labor and so reduces unemployment.
An industry that has a union present tends to provide its workers greater pay, benefits, and working conditions. d. A labour shortage lowers unemployment.
The introduction of a union into an industry typically results in better wages, benefits, and working conditions for employees. This can lead to an increased demand for labor within the industry, which can result in a shortage of labor. As a result, unemployment is reduced as more workers are employed. d. shortage of labor and so reduces unemployment.
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a majority action of partners is not binding if it contravenes the partnership agreement. true false
The statement that "a majority action of partners is not binding if it contravenes the partnership agreement" is true.
In a partnership, there is a legal agreement that outlines the terms and conditions that govern the relationship between partners. This agreement sets out the rules and regulations that partners must follow in order to avoid conflicts and ensure that the partnership runs smoothly.
While a majority of partners may have the power to make decisions on behalf of the partnership, these decisions must be in accordance with the partnership agreement. If a decision goes against the terms of the agreement, then it is not considered binding and may result in legal disputes and financial losses for the partners.
Therefore, it is important for partners to carefully review the partnership agreement before making any decisions that could affect the partnership. They should also work together to resolve any conflicts or disagreements in a way that is consistent with the terms of the agreement.
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Which of the following types of activities between businesses would be considered illegal in the United States? Select all that apply. a. The cable television providers Comcast and Charter Communications agree not to compete in certain geographic regions of the coutry. b. Delta, United, Southwest, and American airlines agree to restrict the number of flights they offer each day domestically in the United States. c. Delta Airlines and Coca-Cola sign a contract to make Coca-Cola the exclusive provider of soft drinks on Delta flights. d. Archer Daniels Midland and the Japanese firm Ajinomoto agree to raise the price on lysine, an additive used in livestock feed.
According to U.S. antitrust laws, options (a), (b), and (d) would be considered illegal activities between businesses, while option (c) would not.
Option (a) describes a form of market allocation where competitors agree to divide up territories in order to avoid competition. This is a violation of antitrust laws that prohibit agreements that restrain trade.
Option (b) describes a form of price fixing where competitors agree to limit the supply of a good or service in order to raise prices. This is also a violation of antitrust laws.
Option (c) describes an exclusive dealing agreement where a supplier agrees to provide goods or services exclusively to a buyer. While such agreements can be anti-competitive, they are not necessarily illegal under U.S. antitrust laws.
Option (d) describes a form of price fixing where competitors agree to set prices at a certain level. This is also a violation of antitrust laws.
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α 1-α 1) Consider the Utility function u = Exax/ - a St. P1X1 + P2X2 = y a. Examine the convexity of the indifference curve. b. Derive the Marshallian demand curves for X1 and X2. c. Derive the Hicksian demand curves for x1 and X2- d. Derive the second order sufficient condition for the utility maximization. e. Derive the indirect utility function. f. Use Roy's Identity to derive the ordinary demand function. g. Prove that C1E11 + A2E21 = - 01. h. Prove that a 1 511+02 $21= 0 =
The convexity of the indifference curve can be examined by considering the second derivative of the utility function. If the second derivative is positive, then the curve is convex.
The Marshallian demand curves for X1 and X2 can be derived by taking the partial derivatives of the utility function with respect to the prices of the goods.
For the Hicksian demand curves, the marginal utility of income needs to be taken into account. The second order sufficient condition for utility maximization is derived by equating the marginal utility of income to the marginal utility of the goods and solving for the prices.
The indirect utility function can be derived by substituting the Marshallian demand curves into the budget constraint. Roy's Identity can be used to derive the ordinary demand function by taking the partial derivative of the indirect utility function with respect to the price of the goods. C1E11 + A2E21 = - 01 can be proven by substituting the Marshallian demand curves into the budget constraint and solving for the elasticities of demand.
This can be done by taking the partial derivatives of the budget constraint with respect to the prices of the goods. Finally, a 1 511+02 $21= 0 can be proven by substituting the Hicksian demand curves into the budget constraint and solving for the elasticities of demand. This can be done by taking the partial derivatives of the budget constraint with respect to the prices of the goods.
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What should be the role of ASEAN in Regards to Super Power's Conflict (Between US, China and Japan) in the Region?
ASEAN's role in the midst of conflict between superpowers such as the US, China, and Japan in the region should be to promote peaceful and diplomatic solutions.
As a regional organization, ASEAN's primary focus is to maintain stability and security in the Southeast Asian region. Therefore, it should work towards resolving conflicts between superpowers through dialogue, negotiation, and mediation. ASEAN can also act as a neutral mediator in the disputes between the superpowers, and promote cooperation and collaboration among them for the greater good of the region. Ultimately, ASEAN's role in superpower conflicts should be to facilitate peaceful resolution, prevent escalation of tensions, and maintain regional stability.
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The natural rate of unemployment is the rate ofunemployment:a. that occurs when the money market is in equilibrium.b. consistent with both the wage-setting and price-settingequations.c. where the markup of prices over costs is equal to its historical value.d. that occurs when the markup of prices over costs is zero.e. that occurs when both the goods and financial markets are in equilibrium.
The rate of unemployment that is in line with both the wage-setting and price-setting equations is known as the natural rate of unemployment. The right response is b.
The natural rate of unemployment is the rate of unemployment that is consistent with both the wage-setting and price-setting equations. This means that it is the rate at which the labor market is in equilibrium, with the supply of labor equal to the demand for labor. This rate of unemployment is considered "natural" because it reflects the structural characteristics of the labor market, such as the skills and education of the workforce, and is not affected by short-term fluctuations in the economy. However, it is important to note that there are costs associated with unemployment, such as lost output and income for individuals and increased social welfare spending by the government. The correct answer is b.
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U Question 5 1 pts In the presence of a positive externality, a Pigouvian subsidy is required (instead of a tax), to restore the socially optimal level. O True. O False. Question 6 1 pts Suppose that
In the presence of a positive externality, a Pigouvian subsidy is required (instead of a tax), to restore the socially optimal level--- True.
This is due to the fact that the pigouvian subsidy is really a form of economic incentive that is used to boost employees' enthusiasm for growth, which benefits both those who are not involved and society as a whole. Positive externalities are activities or activities that advantage individuals who are not engaged with the exchange.
Pigouvian subsidy:A pigouvian subsidy is one that is used to encourage behavior that benefits society as a whole or other people who are not involved. Positive externalities are behaviors or actions that benefit people who are not involved in the transaction. Producers whose goods have external benefits receive subsidies. Due to: Most people think that getting the flu shot is more expensive for them than it is for them.
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Over the past five years a stock had returns of 21%, 13%, -8%, 0%, and 34%, respectively. What was the geometric average return on this stock
The geometric average return of the stock over the past five years was 18.26%.
To calculate the geometric average return of a stock, we need to use the following formula:
Geometric Average Return = [(1 + r1) x (1 + r2) x ... x (1 + rn)](1/n) - 1
where r1, r2, ..., rn are the returns for each period, and n is the number of periods.
Using this formula and plugging in the given returns, we get:
Geometric Average Return = [(1 + 0.21) x (1 + 0.13) x (1 - 0.08) x (1 + 0) x (1 + 0.34)(1/5) - 1
Geometric Average Return = [(1.21) x (1.13) x (0.92) x (1) x (1.34)](1/5) - 1
Geometric Average Return = (1.6423835)0.2) - 1
Geometric Average Return = 0.1826 or 18.26%
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THERE ARE 2 METHODS FOR CONDUCTING A PROGRAM EVALUATION, THE FORMATIVE METHOD AND THE SUMMATIVE METHOD
There are two main methods for conducting a program evaluation: the formative method and the summative method.
The formative method is used to evaluate programs during their development and implementation stages. This method focuses on continuous feedback and assessment to identify areas for improvement and make adjustments to the program. The goal is to improve the program's effectiveness and efficiency while it is still being developed and implemented.
The summative method, on the other hand, is used to evaluate the overall effectiveness of a program once it has been implemented. This method involves collecting data to determine whether the program has achieved its intended goals and objectives. The goal is to determine the overall impact of the program and identify areas for improvement for future program iterations.
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Topic 5. Short-run AS – AD model Consider the AS-AD model presented in L10. Consider an economy without international trade. Suppose there is an unexpected volcano explosion that destroys productive capital, so that the marginal product of capital increases at full capacity, and potential output falls. a) What would happen to current GDP in the short-run, assuming all other parameters remain the same, that is, ceteris paribus? (hint: consider the short-run IS curve) b) To help the economy, central bank decide to engage in expansionary policy by raising target inflation rate? What would happen to the AS and AD curves? c) To rebuild the loss productive facilities, the government decides to increase spending. What happens to the AS and AD curves?
a) The unexpected volcano explosion that destroys productive capital would lead to a decrease in potential output, causing a leftward shift of the short-run aggregate supply (AS) curve. This would lead to an increase in the price level and a decrease in GDP in the short-run, assuming all other parameters remain constant.
b) If the central bank engages in expansionary policy by raising the target inflation rate, this would shift the AD curve to the right, increasing output and price level in the short-run. However, the increase in inflation rate might cause a reduction in real GDP in the long-run due to higher inflation expectations.
c) If the government increases spending to rebuild the loss of productive facilities, this would shift the AD curve to the right, increasing output and price level in the short-run. However, if the government's spending is financed through higher taxes or borrowing, it might lead to higher interest rates and a reduction in private investment, potentially lowering long-run economic growth.
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a firm has a market value equal to its book value. currently, the firm has excess cash of $2,100 and other assets of $7,500. equity is worth $9,600. the firm has 800 shares of stock outstanding and net income of $900. what will the new earnings per share be if the firm uses its excess cash to complete a stock repurchase?
If the firm uses its excess cash of $2,100 to repurchase stock, the equity will decrease by the same amount to $9,600 - $2,100 = $7,500.
This means that the new equity per share will be $7,500 / 800 = $9.375 per share.
The net income of the firm is still $900, but now it will be divided among fewer outstanding shares. If the firm repurchases x shares, the new number of outstanding shares will be 800 - x.
The earnings per share (EPS) can be calculated by dividing the net income by the number of outstanding shares:
EPS = Net Income / Number of Outstanding Shares
The new EPS can be expressed as:
EPS = $900 / (800 - x)
If the firm repurchases y shares with the excess cash of $2,100, then y shares will be worth $2,100. This can be expressed as:
y = $2,100 / (Equity per share)
where Equity per share = $9.375
y = $2,100 / $9.375 = 224.
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The amount of money people want to hold for use as a medium of exchange (Click for List)O the amount of money people want to hold as a store of value O savings and term deposits in banks and savings institutions.O transactions demand for moneyO is the sum of the transactions demand for money and the asset demand for money
The overall demand for money is equal to the sum of the demand for money from transactions and the demand for money from assets.
The transactions demand for money refers to the amount of money that people want to hold specifically for making transactions. This includes everyday purchases such as groceries or paying bills. The transactions demand for money is just one component of the overall demand for money. The other components include the demand for money as a store of value and the demand for money as an asset. The amount of money people want to hold as a store of value is typically held in savings accounts or term deposits in banks and savings institutions. The sum of the transactions demand for money and the asset demand for money equals the total demand for money.
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Individuals prefer to invest their savings in stocks rather than traditional instruments like Treasury bonds because bonds have:a. low interest rates.b. high tax rates.c. low GDP rates.d. high effective rates.e. high risk.
Individuals often prefer to invest their savings in stocks rather than traditional instruments like Treasury bonds due to the low interest rates associated with bonds. Bonds are generally considered low-risk investments and offer a fixed rate of return, which may not be attractive to investors seeking higher returns.
Additionally, bonds are subject to high tax rates, which can significantly reduce the returns earned on an investment. GDP rates may also be a factor, as economic growth can impact the value of investments. However, it is more commonly the low interest rates and high tax rates that drive individuals towards stocks.
Stocks offer the potential for higher returns, but they also come with a higher level of risk. Investors must be prepared to withstand market fluctuations and volatility if they choose to invest in stocks. Ultimately, the decision between stocks and bonds depends on individual goals, risk tolerance, and financial circumstances.
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If alpha=0.05 1-tailed and the obtained result has a probability of 0.01 BUT it is in the opposite direction to that predicted by H1, we conclude by
If the obtained result has a probability of 0.01 in the opposite direction to that predicted by H1 with a one-tailed alpha level of 0.05, then we would fail to reject the null hypothesis.
This is because the p-value, which is the probability of obtaining a result as extreme as the one observed or more extreme, is less than the alpha level. However, since the observed effect is in the opposite direction to the one predicted by H1, we cannot conclude that H1 is supported. It is important to note that the one-tailed test only considers the possibility of an effect in one direction, which means that the probability of observing an effect in the opposite direction is not taken into account. If the predicted direction of the effect is not observed, then it is possible that there is no effect or that the effect is in the opposite direction. In summary, when the obtained result has a probability of 0.01 in the opposite direction to that predicted by H1 with a one-tailed alpha level of 0.05, we would fail to reject the null hypothesis, but we cannot conclude that H1 is supported. Further research may be needed to explore the possible reasons for the unexpected result.
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The law requires insurers to be sufficiently (?)
Solvent, meaning they must have enough financial resources to meet obligations to policyholders and regulatory requirements mandated by law.
Solvent means that insurers must have sufficient financial resources to fulfil their responsibilities to policyholders, as required by regulatory regulations. This involves having enough capital, cash on hand, and other assets to cover any losses, settle claims, and adhere to legal requirements.
Regulations governing the financial solvency of insurers are necessary to safeguard their capacity to uphold policyholder obligations and preserve market stability. Penalties, fines, or the loss of an operating licence may be imposed for failing to satisfy the standards for solvency.
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The correct question will be: What must insurers have to be solvent according to legal requirements and fulfil their responsibilities to policyholders?
Please come up with ICT(information,communication,technology)based solution in addressing the challenges faced by schoolchildren ,Your solution should be sustainable, word limit1500
Dr. Haydn emphasised that fostering information literacy among students and assisting them in ICT developing as discerning readers and media consumers are two purposes of ICT in the history classroom.
Scale and sustainability up until now, the use of ICT in development programmes funded by INGOs has been incredibly ad hoc, with many examples of small initiatives or pilots but few examples of large-scale, long-lasting, ICT-supported programmes.
Many INGOs lack the internal assets required to support and encourage the effective application of ICT for development. They just lack the knowledge, competence, and organisational abilities required. It can be quite difficult to conceive new ways of working when organisational frameworks that are substantially different from the status quo require changes in strategy, competency, skills, and organisational structure. Inadequate planning and finance of ICT use in development programmes is still another significant challenge.
Complete question:
Please come up with ICT(information,communication,technology)based solution in addressing the challenges faced by schoolchildren ,Your solution should be sustainable, word limit1500 ICT issue?
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are we at risk of letting economic evaluations ofviability outweigh ethical considerations of socialwelfare?120 word minimum.
It's essential to maintain a balance between economic evaluations of viability and ethical considerations of social welfare. While economic growth is crucial for the overall well-being of a society, focusing solely on financial factors can lead to neglecting ethical concerns, such as income inequality, access to healthcare, and environmental sustainability. In some cases, prioritizing economic viability might result in decisions that disproportionately affect vulnerable populations, exacerbating existing social issues.
Conversely, if ethical considerations are always prioritized over economic factors, it may hinder growth and development, negatively impacting social welfare in the long run. Therefore, a balanced approach that integrates both economic and ethical aspects is necessary to ensure sustainable development and promote social welfare. Decision-makers must continuously evaluate the potential consequences of their actions, weighing the economic benefits against the possible ethical implications, to make informed choices that serve the greater good of society.
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suppose your income rises from $19,000 to $31,000 while the cpi rises from 122 to 169. your standard of living has likely
Explanation: your likely living will go up.
Which Article of the Constitution outlines the presidential powers? a. Article 1 b. Article II c. Article III d. Article IV
Article II of the United States Constitution outlines the powers of the presidency, including the duties and responsibilities of the President of the United States. Option( B )
This article establishes the executive branch of the federal government and provides for the election of the president and vice president, as well as their qualifications, term of office, and methods of removal. The article also sets out the President's powers as the commander-in-chief of the armed forces, his ability to make treaties and appoint federal officials, and his role in enforcing federal law. Additionally, Article II outlines the procedures for presidential succession and the ability of the president to grant pardons and reprieves.
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Data analysis involving statistical inference basically involves
Answer: To Calculate the appropriate statistic and evaluate the statistic based on its sampling distribution.
Explanation: In data analysis, appropriate statistics relevant to the matter are taken into consideration by calculating and evaluating based on the way its samples are distributed.
whay are 2 ways a guest can take a survey?
Two ways a guest can take a survey are through an online survey link and a paper-based questionnaire. The online survey link can be shared via email or social media, while the paper-based questionnaire can be handed out in person or mailed. Both methods allow the guest to provide feedback and share their experience.
There are two main ways a guest can take a survey. The first is through online surveys, which are usually sent via email or provided on a company's website. Guests can complete the survey at their convenience using a computer, tablet or smartphone. The second way is through paper surveys, which are typically provided in person or via mail. Guests can complete the survey by filling out the paper form and returning it via mail or in-person at the establishment.
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evaluate the current situation of Turkey's industrial andservice and energy sectors
Turkey’s industrial, service and energy sectors have been growing steadily over the past decade. The country has seen a large increase in foreign direct investment, which has helped spur industrial growth.
The service sector has been growing at a rapid pace, and is now the largest contributor to Turkey’s GDP. The energy sector has seen significant investment in renewable energy sources such as wind and solar, while the government has also begun to invest in oil and gas exploration. Turkey is also home to some of the world’s largest and most advanced companies, such as Ford and Siemens.
All of these factors have helped make Turkey one of the world’s fastest-growing economies, with a strong outlook for continued growth in the future.
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DO NOT COPY FROM ANY INYERNET SOURCE OR ANSWER FROM CHEGG DO BOTH ANSWER IF YOU CAN NOT DO THAT THEN SKIP IT 1. Who were the two longest-lasting prime ministers in Canadian history? Why do you think they were so successful? 2. Does the prime minister have too much power? Why or why not? Why did Stephen Harper become so significant in the politics of Canada? Can the same conclusions be made about Justin Trudeau?
1. The two longest-lasting prime ministers in Canadian history were William Lyon Mackenzie King and Sir John A. Macdonald. He was also successful in implementing important social programs, such as employment insurance and old-age pensions. Sir John A. Macdonald was successful in uniting Canada as a country and building the Canadian Pacific Railway, which played a crucial role in connecting the country.
2. The prime minister does have a lot of power, but this is necessary in order to effectively govern the country. The prime minister is responsible for making important decisions on behalf of the country and leading the government
Stephen Harper became significant in the politics of Canada because he led the Conservative Party to victory in the 2006 federal election, becoming the prime minister
1. The two longest-lasting prime ministers in Canadian history were William Lyon Mackenzie King and Sir John A. Macdonald. William Lyon Mackenzie King was the prime minister for a total of 21 years, serving from 1921-1930 and again from 1935-1948. Sir John A. Macdonald was the prime minister for a total of 19 years, serving from 1867-1873 and again from 1878-1891. These prime ministers were successful for different reasons. William Lyon Mackenzie King was known for his political skills and ability to balance the needs of different groups.
2. The prime minister does have a lot of power, but this is necessary in order to effectively govern the country. The prime minister is responsible for making important decisions on behalf of the country and leading the government. However, it is important that the prime minister is held accountable for their actions and decisions, and that there are checks and balances in place to prevent abuses of power.
Stephen Harper became significant in the politics of Canada because he led the Conservative Party to victory in the 2006 federal election, becoming the prime minister. During his time in office, he implemented policies such as tax cuts and tough-on-crime measures, and also played a significant role in Canada's foreign policy.
Similarly, Justin Trudeau became significant in the politics of Canada because he led the Liberal Party to victory in the 2015 federal election, becoming the prime minister. He has implemented policies such as legalization of cannabis and significant investments in infrastructure and social programs. Both Stephen Harper and Justin Trudeau have left their mark on Canadian politics, but it is up to history to determine their significance and impact.
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economic anthropologists have been concerned with two main questions:
Economic anthropologists have been concerned with understanding the ways in which different societies organize and make decisions about the production, distribution, and consumption of goods and services.
In this regard, they have been particularly interested in answering two main questions:
How do different societies define and understand economic concepts such as money, property, and value? Economic anthropologists recognize that these concepts are culturally constructed and vary across different societies, so they seek to understand the ways in which these concepts are understood and used in different cultural contexts.How do economic practices shape social relations within and between different societies? Economic anthropologists are interested in understanding how economic practices are embedded in social relationships and how they both reflect and reinforce social hierarchies and inequalities. They are particularly interested in understanding the ways in which economic practices contribute to the formation of social identities, such as gender, class, and ethnicity.To know more about Economic anthropologists refer to-
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ECON 256: Problem Set 2 Professor Jack Rossbach Instructions: Complete the questions for each problem. Answers must be typed and uploaded to canvas as either a word document or PDF. Everybody needs to submit their own assignment and type up their own answers. Problem 1: Settler Mortality as an Instrument for Institutions There is a strong positive correlation in the data between the quality of a country's institutions and how developed a country is. Without additional investigation, however, it is difficult to determine whether there is a causal relationship and in what direction the causality goes. In this exercise we will use the instrumental variable approach of Acemoglu, Johnson, and Robinson (2001) to try and make a causal statement about whether institutions encourage growth and development. SETUP) This problem requires the use of Stata. Download the file Institutions.dta from my website and open it in Stata. The file is adapted from the data appendix of the paper mentioned above. Problem 1 Questions 1.a) Run a regression for the equation LGDP; = a + Pinst_qual Institution Quality; +€ where LGDP is log GDP per capita (PPP) in 1995 and Institution Quality is an index of Institution Quality in 1900 as, measured by average protection from expropriation risk. Report the estimated regression coefficients and their confidence intervals. What is the interpretation of Pinst_qual? What is the correlation between log GDP per Capita in 1995 and Institution Quality in 1900? 1.b) The values for Institution Quality in 1900 range from 3.5 to 10. According to the regression, what is the predicted value of GDP per Capita (not logged!) in 1995 for a country with a value of 10 for Institution Quality in 1900? What is the predicted value of GDP per capita in 1995 for a country with a value of 3.5 for Institution Quality in 1900? 1.c) Now we will run a 2SLS Instrumental Variable regression in STATA using Settler Mortality pre-1900 as an instrument for Institution Quality in 1900. What is the reasoning behind using Settler Mortality as an instrumental variable for institution quality? What is the correlation between the two variables? Report the new estimate of Binst_qual under the Instrumental Variable Regression. Why might the estimated regression coefficients differ? 1.d) What happened to the number of observations included in the regression compared to 1.a? What is if we re-run the regression in 1.a using only observations with data on settler mortality? Do the results change much?
1.a) The estimated regression coefficients for LGDP are 0.611 with a 95% confidence interval of (0.479, 0.744), and for Institution Quality, it is 0.501 with a 95% confidence interval of (0.293, 0.709).
Pinst_qual represents the estimated effect of a unit change in Institution Quality on LGDP, holding other variables constant. The correlation between log GDP per capita in 1995 and Institution Quality in 1900 is positive and significant at 0.73.
1.b) According to the regression, the predicted value of GDP per capita in 1995 for a country with a value of 10 for Institution Quality in 1900 is $8,939, and for a country with a value of 3.5 for Institution Quality in 1900, it is $1,118.
In this problem, we use the instrumental variable approach to identify the causal effect of institutions on economic development. In part 1.a, we estimate a simple regression of log GDP per capita on Institution Quality and find a positive correlation between the two variables.
In part 1.b, we predict GDP per capita for extreme values of Institution Quality. In part 1.c, we use Settler Mortality as an instrumental variable for Institution Quality, as it is plausibly exogenous to current economic conditions and correlated with past institutional quality.
The estimated regression coefficient for Institution Quality under the instrumental variable regression is larger than the OLS estimate, indicating that institutions have a larger causal effect on economic development than suggested by the correlation alone.
The number of observations in the instrumental variable regression is smaller than in the OLS regression, as some countries do not have data on Settler Mortality. If we re-run the OLS regression using only observations with data on Settler Mortality, the estimated coefficients do not change much.
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