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Question 1:
Critically analyse the costs of inflation. Which of these items is likely to have encouraged many governments in their adoption of inflation as public enemy number one?
(a) Distinguish between static and dynamic gains from trade.
(b) Explain clearly, with the help of diagrams, the welfare effects of an import tariff assuming
(i) the economy is small (ii) the economy is large
Question 2:
(a) Critically analyse the main types of unemployment
(b) ‘There is no relationship between inflation and unemployment either in the short run or in the long run' Discuss
The Concept of Growth and Growth Rate is explained below: Economic growth is rise in an economy’s level of the production of commodities, output or income. We can talk about th
Calculate the marginal cost and marginal analysis for the following table. Calculate the answers and insert them into the shaded cells. Units Produces Cost per Unit Total Cost Ma
what is keynesian model
Suppose the demand for guitars in State College is given by Qd = 9000 - 12P where Qd is the quantity demanded, and P is the price of guitars. Also, suppose the supply of guitars is
Habelers theory of opportuniyu cost
#questionKeynes liquidity Preference theory stipulates that money demand is negatively related to current income and positively related to interest rate..
Q. Explain money market and price changes? The money market and price changes The money demand curve will shift to the right (left) in themoney market diagr
What is total surplus in net gain? Total surplus in net gain: The total surplus generated into a market is the total net gain to consumers and producers through trading into
A recent article in the Cincinnati Enquirer reported that the mean labor cost to repair a heat pump is $90 with a standard deviation of $22. Montes plumbing and Heating Service com
What is gross domestic product Economic growth is most commonly calculated in terms of the annual percentage rate of change in real gross domestic product (GDP).
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