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QUESTION 1
(a) Suppose the government decides to implement a minimum wage to help low-income workers. How will the minimum wage affect the demand for labor and what does this imply about the success of the government's initiative?
(b) Explain the effects of a minimum wage on monopsonised markets.QUESTION 2
Briefly write on the following (each carries equal marks)
It commonly refers to the combination of commercial banking and investment banking. It is a supermarket for both wholesaler n retailer financial services as it offers a huge range
Identify the features of informal sector in African countries
In brief, the price of anything is based on comparative benefit. If Adam makes clocks better and cheaper than Bill, all clock production should go to Adam.
what makes other individuals save more than others
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What are Less Developed Countries (LDCs)? Less Developed Countries: Developing countries are frequently considered to as less developed countries. The World Bank categor
Australia has emerged from the Global Finance Crisis (GFC) as "the strongest economy in the developed world" (Editorial, The Australian, 11 December 2009). The economic editor of T
QUESTION (a) "There is always an inverse relationship between price and quantity demanded of a good." Discuss. (b) Explain with appropriate diagram(s) the different factors
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