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Problem 1:
(a) Explain the common set of problems that developing countries usually face.
(b) In your opinion, which of the problems described in part (a), are more significant to Mauritius? Justify your answer.
(c) Critically assess whether education is a source of economic growth and development.
Probelm 2:
(a) Describe the different views on development.
(b) Describe why development must be conceived as a dynamic and multidimensional process, involving major changes in every aspect of a society.
Long Run Average Cost (or LAC) -Constant Returns to Scale If the input is doubled, the output will double and average cost is constant at all the levels of output.
diagrammatically condition of consumer equilibirium
Illustrate the income changes and consumption choice. Income Changes and Consumption Choice: This is of interest to see at how the consumer’s demand changes when we hold pri
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choose a topic from microeconomics that matters to you and find a recent news article covering that topic?
Financial relationship with the IMF: IMF provides temporary assistance to member countries to tide over BOP deficits. When a country requires foreign exchange, its tenders its
Mamun has a weakly income of 600 dollars. Price of chocolate is 5 dollar and price of potato is taka 10. Both are normal goods. Show the income and substitution effect for each of
Paradox of Thrift: An individual household, governmentor business may attempt to save money by reducing their current expenditures. Though those attempts to save, once amalgamated
Use a PPF to explain the trade-offs that all economies face. All countries must construct some sort of system whereby output, allocation and distribution of goods is decided.
How is the foreign exchange rate determined
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