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Friedman and Johnson (1997) show that for a wide range of dynamic optimization problems, supermodularity is both necessary and sufficient for monotone static results. In the present context, this implies that our supermodular model requires the minimum set of assumptions to obtain monotonicity in the optimal decision variables.
2
The evidence presented here needs to be supplemented with information about inter- and intrafamily income transfers. This issue was addressed in a follow-up survey, but analysis of the results is not yet complete.
Answer:
Geography plays a significant, fundamental role in shaping outcomes in human societies.
Among other geographical elements, borders have significant implications"they are not
only geographical figures, but also political creatures. Against previous theories that have
studied border effects along with institutional differences mostly about economic
implications, this thesis considers how sub-national borders with weak jurisdictions affect
cultural, political, and economic phenomena using data from South Korea. Unlike
international borders and intra-national borders in a federal state, this thesis suggests borders
in a unitary nation have less economic effects, but more cultural and political effects.
Explanation:
Answer:
Southern and Eastern Europe became the major spring regions. Some of the big driving forces is the World War I, primarily in Europe, which enabled immigrants to join the United States. The economic conditions were another significant consideration as the prospects for jobs in the war declined.
As reported, when migrants went to the USA, there were many possibilities for jobs. The American automotive industry celebrated of the first World War. War-time goods have been pursued, and America has become one of Britain's major food producers, and has provided refugees a wide range of jobs.
Explanation:
The key difference between command and market economies is that: Households answer the basic economic questions in a market economy, while a group of leaders answer them in a command economy.
<h3>Types of economy.</h3>
Generally, there are five (5) main types of economy and these include the following;
- Mixed economy.
- Command economy.
- Traditional economy.
- Pure capitalism economy.
- Underground economy (black market).
<h3>What is a market economy?</h3>
A market economy is also referred to as free-enterprise system or free market and it can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government.
This ultimately implies that, a market economy is devoid (free) of government regulations, interference or control because the market is completely driven by demand and supply of goods and services.
Read more on market economy here: brainly.com/question/12653685
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