Taiwan and Jamaica are both islands that have pursued export-oriented development strategies, but Jamaica has experienced increases in unemployment and poverty, while Taiwan has experienced decreases. How might you explain this?
What will be an ideal response?
The type of exports, commodity or manufactured, may matter. You may wish to use other countries as illustrations, depending on the examples you use in lecture.
Economics
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Using the quantity equation MV = PY, which of the following might happen if the money supply increases?
A. Velocity is constant, prices rise, and total is constant. B. Velocity increases, prices are constant, and total output is constant. C. Velocity is constant, prices fall, and total output is constant. D. Velocity rises, prices fall, and total output is constant.
Economics
Quasi differences in Yt are defined as
A) Yt - Yt-1. B) Yt - ?1Yt-1. C) ?Yt - ?1Yt-1. D) ?1(Yt - Yt-1).
Economics