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Explain how a floating exchange rate works and the variables which affect the rate.
Define a floating exchange rate as the price of a currency (in terms of another or basket of currencies) being determined by market forces, i.e. supply and demand of the currency. Using two S/D diagrams illustrate and exemplify such market forces - all the while clearly referring to the diagram
Explain the axioms of completeness, transitivity and non-satiation using appropriate examples.
Manpower-Population Ratios In this technique, manpower will not be planned for the economy as a whole. It will be planned for sectors or sub-sectors of an economy. For instanc
Consider what would happen if a taxes of 10000$ was imposed on imported automobiles on dealers.Using a demand and supply diagram, show its impact of price and quantity. Suppose the
Clearly explain the distinction between supply, demand and equilibrium price.
explain two theories of economic rent
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Uses and Habit Forming Commodity -price elasticity of demand: The number of possible uses : A commodity has high price elasticity of demand (or elastic demand) if it can be p
Yuen, a travelling salesman for snake oil, can produce the stuff at a marginal cost of 1. There are 100 potential customers in Vernon, each of whom has the following demand functio
FACTORS RESPONSIBLE FOR POLICY FAILURES: It is the subject of many official and academic studies to try and find out the reasons for the inability of many, in fact, most of th
What is elasticity of supply
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