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1. Explain externality, how can government intervene to achieve allocative efficiency in case of external cost or external benefit?2. Explain oligopoly's structure and use game theory to explain why oligopoly firms tend not to use price to compete.3. Analyse the strengths and weaknesses of GDP as a measurement.4. Distinguish frictional, structural and cyclical unemployment. How is unemployment measured? What are the costs of unemployment and how can policy makers reduce its impact?5. Explain inflation, and the difference between anticipated and unanticipated inflation. 6. Distinguish demand pull, cost push and imported inflation using graphs where appropriate. What are the likely causes of current inflation in Australia? 7. Explain why the demand curve for the Australian dollar is downward sloping, and why the supply curve for the Australian dollar is upward sloping. 8. Explain why changes in the business cycle affect the durable and non durable industries differently.9. Explain the impact of expansionary or contractionary fiscal policy on GDP. Discuss the problems of Fiscal Policy?
In the case of a tax abolition on food staples, what are the short run and long run effects?
Q. Define Migration in Microeconomics? Migration:It's the movement of human beings from one country or region to another. Sometimes migration is motivated by economic factors (
Consumer Preferences Indifference curves represent all the combinations of market baskets which provide the same level of contentment to the person. Consumer Preferences
Homework 4 Q1. Suppose a consumer has utility function (u) = xy where x and y are amounts of two commodities that this consumer consume. Suppose this consumer’s income is $120, pri
1) The Economy cannot be considered fully employed unless the measured unemployment rate is below 1%. Agree or disagree and explain your answer in a paragraph. 2) A) Why would y
Explicit cost: Explicit costs are payments made by the firm when it purchases or hires factors of production for the production of goods and services. They are also referred t
dicuss the relevance of studing production theory and analysis inn your career as a student of manegerial economics
Comparison of sameulson revealed preference theory with the Hicksian revealed preference theoru
We couldn''t find "Bob sold 50 fans at $20 a piece last month. This month he decreased the price to $15 and sold 75. What is the price elasticity of demand for fans
Static and dynamic multgipier
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