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Chapter 19: Q 6. (page 471)
Explain how the natural rate of unemployment may be higher in low-income countries.
Government regulations and subsistence households
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Explain why converging economies may present a strong argument for limiting flows of capital but not for limiting trade.
Prepare a chart that compares India, Spain, and South Africa based on the data you find. Describe the key differences between the countries. Rank these as high-, medium-, and low-income countries, explain what is surprising or expected about this data.
Create a table that identifies the macroeconomic policies for a high-income country, a middle-income country, and a low-income country.
In low-income countries, does it make sense to argue that most of the people without long-term jobs are unemployed?
What are some of the other ways of comparing the standard of living in countries around the world?
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