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Problem 1: (a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this i
Can national income figures be used to make comparisons of standard of living among countries? National income measures the Gross Domestic Product of country and therefore can
Use short notes and illustrations to answer the following questions: i) Distinguish between an indifference curve and an isoquant ii) Distinguish between substitution and inc
A businessman invested $ 4000.00 as his fixed cost in a new venture that produces batteries. Each of these batteries cost $150.00 to manufacture and he sells each battery for $180.
cn i get an example of it
What is the Marshal Plan? Marshal Plan: The Marshal Plan noticed massive aid to post war Europe that led to quick recovery. That Marshal Aid helped but the accurate social
What are factor endowment implications? Implications of factor endowment: • Less Developed Countries to specialise and export labour intensive goods, agriculture or commodit
What is suitable technology? Technology is suitable when this employs methods which make the best use of accessible resources that is labour-intensive, straightforward techniqu
Define the aggregate price level in the macroeconomics. Aggregate Price Level: A nominal measure is a measure which has not been adjusted for modifications into prices
Question: (a) Assume that a market is in equilibrium and all investors agree that the return on any diversified portfolio P is equal to R P = a p + b p 1 F 1 + bp 2 F 2
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