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QUESTION (a) Define a public good and discuss how free riding might be a problem in the provision of a public good. (b) What is the rationale for government intervention in
Equation (1) gives a hypothetical demand curve for hybrid vehicles in the United States during the year 2000, where Q is the quantity demanded and P is the price. Equation (2) giv
How can the population controlled? Governments can take some steps to controlled populations: • Enhance the education of women and their employment opportunities raises and
Provisionally the new software is called SafeCus with two projected levels of service - Premier and Standard. The Premier Level could be on sale within a year and will provide b
QUESTION (a) Explain and evaluate the rational expectations theory. (b) What is the major argument of the supply side economists in relation to taxation policy? How is it di
QUESTION (a) Explain the 3 different ways of calculating national income. (b) Does the National Income figure accurately reflect the living standard of a population? Discuss
What are Harrod-Domar assumptions? The H-D (Harrod-Domar) model assumes as: • Fixed capital output ratio. Nonetheless, diminishing marginal returns to capital element exist
What are the limitations of comparative advantage? Limitations of comparative advantage: International trade needs wide specialisation. This can have drawbacks as given b
Explain the essential distinction among the stages of growth theory of development, the theory of international-dependence in both its neo-marxist and false paradigm conceptualizat
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