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What are the traditional, modern sectors and rural-urban migration? Rural-urban migration: Rural-urban migration is the movement of labour through the countryside to cities
There are three firms in an economy: A, B, and C. Firm A buys $450 worth of goods from firm B and $260 worth of goods from firm C, and produces 260 units of output, which it sells
Discuss (1) the key characteristics of the Chinese economy during the Mao era, (2) the socio-economic shortcomings that China experienced between 1949 and 1976 and (3) t
Define the macroeconomic stability in market for promoting development. Macroeconomic stability implies that: • Tight fiscal policy that is balanced government budgets and d
uses of time series
explain why each of the following factors influence the own price elasticity of demand for a comodity 1. Consumer preferences 2. the narrowness of definiton of the commodity
Why do state approaches work into promoting development? State planning and intervention is desirable due to the shortcomings of markets. The approaches range of state through
How is Gross Domestic Product capturing the economic dimension of human well-being? GDP (Gross Domestic Product) only captures the economic dimension of human well-being. All c
Tri-City Industries is considering two possible capital projects. Project A requires an initial investment of $240,000 and provides cash flows before tax of $120,000 in year one, $
What is matrix algebra, give some examples and its types
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