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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
What is a developing economy? To say a country is developed or developing needs indicators. For illustration: • The World Bank classification utilises one economic indicator
How less developed countries cannot economies grow by developing services as tourism? Less developed countries cannot economies grow by developing services as tourism if: Ga
What are the differences among developing economies? Developing countries are diverse. They can be different in terms of as: • Resource Endowment for example, a country is
negative externalities
Changes frequently bedevil IS projects. What steps are needed to make sure that proper change control is exercised onto a project? An effective change control system involves t
QUESTION (a) Explain the 3 methods of calculating National Income? (b) Why do all countries in the world calculate their National Income every year, despite all the difficul
Suppose a monopolist produces at constant marginal cost and is able to discriminate between two groups of consumers. The demand in each group is linear. Would the monopolist discri
In the model with utilities W i = c i + α ln(x i ) where individuals are endowed with ability levels w p m R and form fractions π p , π m , π r with π m > π p , π r
purely competitive firms increase total revenue by
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