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Benefits of Regional Integration Most economic experts cite that regional integration permits disadvantaged countries to realize economies of scale, vie on a broader (often gl
What is productivity? Productivity or average product (AP): It is output person which is output divided through number of workers AP= Q/L. There labour Productivity can
WHY IS INTERNATIONAL TRADE IMPORTANT IN SOUTH AFRICA
How could utility theory help us understand the difference between a federal income tax and a federal sales tax on consumer consumption patterns?
multiplier static and dynamic
Macro Economics 1. How was the Classical Theory of interest role criticized by Keynes? 2. Illustrate the barter system that was used in early times in lieu of money. 3.
Absolute income hypothesis
Q. Describe the classical model of macroeconomics? 'The classical model' was a term coined by Keynes in the 1930s to signify essentially all the ideas of economics as they appl
explain any two factors that cause the shifts in the balance of payments curve.
We will continue with the familiar demand curve homework the previous section Let the market demand for goods be with a linear curve: (p =A q D /10), where it is known
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