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Problem:
(a) Distinguish between fiscal and monetary policy, giving examples where appropriate.
(b) Explain how fiscal and monetary policies might be used by a government during unemployment.
(c) Using hypothetical figures, distinguish between the theories of comparative and absolute advantage.
(d) Describe why a country might impose barriers to trade.
Revise business plans to incorporate appropriate changes.
Explain how unemployment could be voluntary or involuntary . Start off with a definition of the labour force and then outline the proportion of the labour force which would be
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Assume that in the market there exist two types of workers where the principle cannot distinguish types. The two types only differ with respect to the disutility of effort. The dis
law of diminishing returns
what are some of recent development in theory of demand
For each of following production functions, comment on the ability to substitute capital for labor. Note that Q, K, and L denote output, capital, and labor respectively. A: B
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