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How do economists group countries at various stages of development? There are three major forms of classifications: • IMF: Developing and industrial, transitional economi
#questDuring the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in ter
What are the assumptions of unbalanced growth? Development cannot be initiated through one industry. Government recognize strategically significant areas to planned economy or
How can the population controlled? Governments can take some steps to controlled populations: • Enhance the education of women and their employment opportunities raises and
the markert is said to be an invisible hand in the economic system , how
Assume that there are two types of consumers (in equal numbers). They have the following two inverse demand functions (coming from zero-income effect demand functions): Type A : p
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1. (classical monopoly pricing) A monopolist faces a demand curve q (p) = 100 p: (a) If its cost function is C (q) = 2q; what is the optimal level of price and quantity? (b
you are appointed secretary of the treasury of recently indepent country called rugaria
Assume Mr. Robinson deposits pounds 600 in currency at a bank. Later that day Ms. Volker borrows pounds 1200 from the similar bank. The money supply will have enhanced by pounds 60
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