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Explain how unemployment could be voluntary or involuntary .
Start off with a definition of the labour force and then outline the proportion of the labour force which would be unemployed even when the labour market is in equilibrium - this having of frictional, seasonal and structural unemployment. Classical/monetarist theory looks at any unemployment in excess of the natural rate of unemployment as voluntary - as these labourers are not accepting jobs at the going real wage rate. Keynesians, on the other hand, sight this as involuntary, or demand deficient.
Five uses of elasticity on the Public Sector and five uses of elasticity on the Private Sector.
Explain the meaning of the statment "coffee and tea are close substitutes".
Assume you go to the market to buy apples (x1) and oranges (x2) and discover that the price of apples is 1 euro per unit and the price of oranges is 1 per unit when you buy less th
Explain what the phrase “price rationing” means. Price rationing is the method by which the market system assigns goods and services to consumers while quantity demanded exceeds
How might one assess if a country in experiencing both growth and development? This is a matter of explaining clearly both growth and development; growth is an enhance in GDP (
Is economic development is based on goverment Many governments--mainly unelected governments-aren't that interested in economic development. Giving valuable industrial franchis
what is The most important source of oligopoly?
Suppose the demand curve for a consumer for coffee is: Q = 6 - 2P, where Q represents the number of cups per day and P is the price of coffee per cup. 1. Suppose the con
A consumer purchases food (X) and clothing (Y). Her utility function is given by: , income is $100 and the price of food is $1 and the price of clothing is Py. a. Derive the equ
PanCakes Creations is considering franchising its single brand of pancakes to stall-holders on the Zandvoort beach, which is 5 kilometers long. PanCakes Creations estimates that on
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