We are analyzing the effects of regime type on corruption with the following model: Corruption = 10 – 0.1GDPpc - 2.0Democracy where Corruption is an index of corruption, GDP (per capita) is measured in thousands of dollars, and Democracy is a dummy variable that is equal to one if a country is a democracy and 0 otherwise. What is the predicted corruption index of a democratic country with a per capita GDP of $49,000? Enter your answer with one decimal place.
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- Using the figures below, construct a complete picture of the vicious circles of economic and politicalpoverty in South Africa or an African country of your choice, and outline the effects upon the poor andupon the state if the situation is not addressed by government and its public bureaucracy. If there is noreversal what would be the implications in respect of the possible collapse of the state through a popularuprising or rebellion. Discuss comprehensively, in terms of learnt theory and your observations. Inaddition to the politicians, is the bureaucracy also to blame? Can this situation be overcome? If so, how?If not, why not.How did the theory of government proposed by Locke reflect concerns and problems of the 17th century? O Locke's ideas reflected a shift toward greater monarchical power in England. O Locke's ideas reflected a belief that humans did not require a government to provide justice and protection. Locke's ideas reflected the attempt by English landholders to maintain power they had won. What does the witchcraft craze tell us about European society in the 16th and 17th centuries? Check all that apply. Shift away from communal values toward personal ones More certainty in religious matters and principles Uneven economic development between social classes. Belief in the superiority of womenEconomist Friedrich Hayek argued that when knowledge is decentralized and disbursed among many people. a) the greater the share of knowledge the heads of firms and governments can and must know to be successful. b)the smaller the share of knowledge the heads of firms and governments can know to be successful. c) the greater the need for centralized, top-down planning within large firms and governments. d) the greater the need for firms and governements to avoid markets.
- Why can we say thatinnovation has a ‘systemic’ nature?here is quite a number of ways through which corruption can be prevented. Kindly identify and analyze at least two ways through which corruption can be prevented within the African context.D Question 5 Based on the figure below, which of the following is correct? Gini coefficients (various years, 2013-2019) Market Gini Disposable Gini Slovakia Slovenia Iceland Czech Republic Belgium Norway Finland Denmark Austria Sweden Poland Germany Hungary Ireland Canada France Netherlands Switzerland Estonia Greece Portugal Russia Luxembourg Australia Italy Spain Japan Latvia Korea Israel Romania Lithuania South New Zealand UK US Turkey Bulgaria Mexico Chile Brazil India Costa Rica O Income inequality in market income is lower in lower- and middle-income countries O India does the most to reduce inequality in disposable income by using taxes and transfers O Taxes and transfers have no impact on the inequality in disposable income O Income inequality before taxes and transfers is similar in the US and most European countries China South Africa FULLSCREEN Figure 5.21 Income inequality in market and disposable income across the world.
- What do you think is the impact of ChatGPT on the economy and job prospects, and how could it potentially change the job market? How do economists view the use of generative AI models such as ChatGPT in terms of increasing shared prosperity and reducing income inequality?How did the administrative command system give rise to the “shadow Economy”? How did the shadow economy foster the rise of the oligarchs during Russia’s transition to capitalism?In Germany in 2009 there was considerable debate about the extent to which thegovernment should be intervening in the economy. For example, its citizens were worriedabout the future of Opel, a German car brand that was part of the ailing General Motors.Some wanted the government to make sure jobs were saved no matter what. Others,however, were more hesitant and worried about becoming the government becoming toointerventionist. Traditionally since the Second World War the German government hasseen itself as a referee in market issues and has avoided trying to control parts of theeconomy. It would regulate anti-competitive behaviour, for example, but not try to runmany industries. However in the recession of 2009 when the economy was shrinking thegovernment was forced to spend more to stimulate demand and had to intervene heavilyto save the banking sector from collapse. The government also had to offer aid tobusinesses to keep them alive. 1. What are the possible benefits of a…
- In Germany in 2009 there was considerable debate about the extent to which thegovernment should be intervening in the economy. For example, its citizens were worriedabout the future of Opel, a German car brand that was part of the ailing General Motors.Some wanted the government to make sure jobs were saved no matter what. Others,however, were more hesitant and worried about becoming the government becoming toointerventionist. Traditionally since the Second World War the German government hasseen itself as a referee in market issues and has avoided trying to control parts of theeconomy. It would regulate anti-competitive behaviour, for example, but not try to runmany industries. However in the recession of 2009 when the economy was shrinking thegovernment was forced to spend more to stimulate demand and had to intervene heavilyto save the banking sector from collapse. The government also had to offer aid tobusinesses to keep them alive. 1. What prompted greater intervention by the…How and why do institutionalists argue that institutions change the behavior of states?How can profit motive lead to income inequality? (Pages 33 – 35) pages 33 Investment is necessary but risky. It has already been establishedthat capitalism is the most effective and efficient system for wealthcreation and economic prosperity. The path to economic successconsists in investment that is guided by supportive governmentpolicies and institutions. The success of capitalism, in turn, isderived from the success of business enterprises in their roles asjob creators and income-generating agents. However, investmentrequires enormous risk and sacrifice, along with one’s willingnessto undertake such risky ventures, which are based on the potentialreturns on the investment capital. A successful investor must notonly possess organizational and managerial skills, but he or shemust also be willing to take enormous risks. Tanner (2016) madethe point that one of the prerequisites for economic growth isto have individuals who are ambitious, skilled risk-takers andwho are ever striving for…