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Question: (a) Describe the two major developments which have led in the adoption of Import Substitution Industrialisation by Developing Countries in the 1940s/50s. (b) Ill
Why government cannot print new currency to pay the debts? When there is deficiency of internal resources then government borrow. Government can borrow either from central ban
2 i) Explain what are the key assumptions by the welfarist approach. ii) Define and discuss the properties of a Generalized Utilitarian social welfare function and represent it
Consider that the government tells a large monopolistic firm that maximizes profits that it has to pay a fee to the Reelect the President Committee same to one third of its total p
Explain how the price system eliminates a shortage. A deficiency means that quantity demanded is greater as compared to quantity supplied. This will lead to upward pressure on pr
Why demand curve is always negative and write its effects.
why value of marginal product is negatively sloped
Edge Act A federal law passed in 1919 that are available national banks to accomplish foreign lending operations through federal or state chartered subsidiaries called Edge Ac
the diagram used to illustrate of abnormal and normal profits
Labor Total Output 1 30 2 50 3 60 4 75 5 80 a) If the price of the firm’s output is $12 per unit and the wage rate is $100 per worker, how many workers should the firm choose to
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