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Question 1:
Discuss why living standards are higher in some countries than others.
Question 2:
(a) How is inflation measured?
(b) What are the causes and consequences of inflation for an economy?
Question 3:
(a) What might cause an appreciation of a floating exchange rate?
(b) Discuss whether an appreciation of a country's exchange rate will always be beneficial to that country.
Question 4:
Write short notes on the following: (a) Monetary Policy (b) Fiscal Policy (c) Balance of Payments (d) Money Demand (Keynesian approach) (e) Economic Growth
Describe how exchange rate is expressed in some nation In some nations, exchange rate is expressed using home currency as base currency. In UK for instance, Danish exchange rat
the difference between the AC and the AVC curve
MEC vs MEI in detail
Explain the facts or economics rate Boom: The period leading up to the peak of the cycle when an overheating economy is experiencing high GDP growth and inflationary pressures
Who sets the prices in the market and what is the nature of competition? Is it buyer versus sellers or buyer versus buyers? What happens if the price is too high or too low? Is the
Classify each good as a final good or intermediate good. (briefly explain wach choice) 1. running shoes 2. cotton fibers 3. watches 4. textbooks 5. coal 6. sunscr
suppose that a persons wealth is kshs. 50,000 and her yearly income is kshs. 60,000. suppose further that her money demand function is given by Md = y(0.35-i) where i= interest
Effects of consumption function.
y=c+c1(y-t0-t1y,r)+i+g
Neo-classical thinking on growth: Neo-classical thinking on growth is owed to the Robert Solow whose exogenous growth models in the of the mid-20th century remained
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