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QUESTION:
a) How do returns to scale and returns to factor affect the shapes of the AC in the Long-run and short-run respectively?
b) "Standard of living has to be measured using both monetary and non-monetray measures." Comment on this statement.
c) Explain using diagrams, how is consumer surplus related to the price elasticity of demand?
d) Reducing occupational immobility of labour is the only way of decreasing the level of unemployment. Discuss.
Question 1: Examine the essential elements of modern democratic societies. Question 2: State the various ways in which the participation of people is achieved in a demo
Probelm 1: (a) What are the main roles of Government in the economic development of a country? (b) What are some of the emerging issues affecting the role of Government?
explain the stages and various coordination mechanisms involved in policy processes
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Draw a simple circular flow of income model for a private sector economy. Label all of the flows, as well as the markets where all exchanges take place. Describe the exchanges, a
examine the efficiency of quantitative credit control instruments.
Introduce uncertainties in attainments of policy outcomes, winning of elections, optimistic and pessimistic expectations of agents and relate it to various adjustments and converge
Characteristics of IS Curve
study guide for Magruder''s American Government. the tests are supper hard
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