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Describe the poverty cycle and suggest how a developing country can break the cycle.
The poverty cycle is explained as the trap developing countries can land in; low incomes → low saving →low investment→low incomes. As for the issue of breaking the cycle there are a range of possible suggestions, all of which unfortunately encounter any number of other obstacles.
Explain about the duality between direct and indirect utility. Duality between Direct and Indirect Utility: While seen how one can recover an indirect utility function by ob
What is the distinguishes a progressive income tax, from a proportional income tax, or a regressive income tax? A proportional income tax takes the similar percentage of a pe
What does Keynesian consumption function say about tax cuts
Slope of an Iso-quant: Since along an iso-quant the level of output remains the same, if θL units of θL are substituted for K units of K, the increase in output due to θ L
edge worth model
Cost Sharing in Higher Education - Graduate Tax Another commonly suggested measure is to tax the employers employing educated manpower. The case for this method is made on the
Risk Aversion and Income - Variability in potential payoffs increases risk premium. - Example: A job has a .5% probability of paying $40,000 (utility of 20) and a 5 p
how do you find the average fixed costs using total fixed costs and total product?
the prevalence of excess capacity is the direct consequence of the existence of monopolistic competition
Variability - The extent to which the possible outcomes of uncertain event may vary * Variability: A Scenario - Assume that you are choosing between two part time sales
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