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Problem 1:
i) Define the three main Economic Systems?ii) How can knowledge on price, income and cross price elasticity of demand, be helpful to the Government and a firm, respectively? iii) Many of the Eastern European countries who were previously centrally planned economies have placed greater emphasis on market forces . Discuss the reasons behind such a trend.
Problem 2:
i) Explain the main causes of unemployment.
ii) What do you understand by the terms: a) Demand-pull inflation b) Cost-push inflation.
iii) To what extent can fiscal and monetary policies be used to deal with a high rate of inflation?
This question considers the possibility of foreign aid in exchange for favors. Suppose nation A has RA resources in its treasury and nation B has RB resources. The winning coalitio
Explain the stages and various coordination mechanism nvolved in policy processes
The major economies in the world are in a deep recession although there are some signs of growth. What implications has such a recession had for international business? How have go
Draw a simple circular flow of income model for a private sector economy. Label all of the flows, as well as the markets where all exchanges take place. Describe the exchanges, a
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what id the definition of public debt burden?
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