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use a graphical illustration to describe briefly what the influence of each of the following be on the market supply of labour,(a) an increase in immigrants, (b) a reduction in wag
What are the main causes of unemployment? Two main paths are available; demand-deficient unemployment and real wage unemployment. After explaining unemployment (percentage o
Question 1 Discuss the short-run cost-output relations Question 2 Write a short note on pure competition Question 3 Describe excess profit criterion Question 4 Disc
The US government decides to subsidize solar panels. For each unit sold, the government pays $T to the buyer. Using a graph, show how this subsidy affects i) consumer surplus, ii)
Why Average Revenue= Marginal Revenue
The process of production needs several inputs. These inputs are known as the factors of production. In most cases, firms own some of the factors of production while some have to b
What is "high-powered money"? The "high-powered money" is the similar as monetary base, which is defined, at the minimum, as the sum of the currency in circulation (banknotes
a curve on a graph shows the relationship between apartment rent in a town and the quantitiy of apartments that people want at each rent. A new industry enters the town and the pop
What is the distinguishing characteristic of institutions in the public purpose sphere? The distinguishing characteristic of institutions in the public purpose sphere is that t
Explanation of the Break in Trend: An economy can grow in three different ways or all three ways may work simultaneously: 1) Horizontally, i.e., it may go on producing m
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