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FOREIGN TRADE:
Interdependence between the economies of the world has increased multifold. External sector in the economy has gained primeimportance. Both exports and imports contribute to the production process. Both of these are effective instruments in raising the income levels of the people in a developing economy. Apart from flow of goods, increasing flow of services and capital between the nations give rise to payments and receipts in foreign exchange which, in turn, influence the Balance of Payment's position. In this unit, we shall examine foreign trade and Balance of Payments, trade policy and various policy measures for rapid growth of exports. Let us begin with explaining the relationship between foreign trade and economic growth.
derive demand equation
Problem: i) What is meant by ‘own' price elasticity of demand? What factors are likely to affect the size of this elasticity? ii) A publicly owned bus line is running at
I have the answers to these two questions, but I need to know HOW to get these answers. Thanks. Question 1 Suppose there are two goods beverage and pizza and two inputs land, T
Suppose you are a regulator in charge of allocating water between residential and agricultural users (farmers) in Southern California. You conduct a survey that finds that under th
What are subsidies? Almost in all market systems, government plays its role to stabilize the price of certain commodities, which are of public interest like medicines and edib
In this section, we ask you to write down a simple, formal, mathematical model. A small number of points will be awarded for an intuitive discussion of the problem, but most of the
Determine the Returns to Scale Use the following production function and budget constraint to answer the questions below. Q = L + K 1000 = 2L +
# define output#
different types of production funtion and curve given by different economist
Differentiate the definition of economics as given by Prof. Marshall and Prof.Robbins. Illustrate the concept of production possibility curve .How PPC is helpful to solve econom
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