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What are the similarities among the developing economies? Common characteristics of LDCs (Less Developed Countries) include: • Low living standards (that is low real income
QUESTION (a) Explain the term Balance of Payments (BOP) and how a government would intervene to correct a BOP deficit. (b) Explain the protectionist measures that a governme
What are the limitations of comparative advantage? Limitations of comparative advantage: International trade needs wide specialisation. This can have drawbacks as given b
Explain, using the example of museum visits, own price, cross-price and income elasticity of demand; consider own price elasticity for various demographic groups. Use diagrams wher
The Concept of Equity is explained below: Equity represents that the principle of taxation which emphasizes fairness or just the sacrifice, which is everyone must pay the tax d
QUESTION (a) Explain clearly what inflation is and elaborate on its main causes. (b) "There is a trade-off between inflation and unemployment" Do you agree with this stateme
QUESTION (a) Differentiate between the fixed and floating exchange rate models. (b) Discuss the effectiveness of the floating exchange rate model. (c) Explain the mechani
Hello, My name is Lis ... I have a homework assignment that is due and the latest it can be submitted is on Saturday May 4th. Please let me know how much it would cost and if it''
Is the impact of globalisation a problem? Globalisation consider as to the increasing integration of national economies into terms of financial flows, trade, concepts, informa
What are the restrictions of dependency theory? The restrictions of dependency theory: • Self sufficiency and import-substitution strategy mean the advantages of Internatio
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