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How do economists differ from accountants in the use of the term profit ?
Definition of rev and accounting costs
a) foregone interest
b) foregone wages
c) risk premium
QUESTION 1 (a) Compare and contrast the main theories of a demand for money. (b) Specify a money demand function for a small island economy like Mauritius. QUESTION 2
QUESTION 1 (a) In what specific ways does Becker's model of the allocation of time differ from the simple work-leisure choice model? (b) Compare and contrast the functioning
What does Rostow predict? For Rostow: • Savings and capital accumulation (formation) are central to the procedure of growth therefore development • The solution to de
greg and todd form a partnership and start a business in which each has a 50 percent share of the profit. after a year, the firm goes bankrupt and has debts of $20,000. greg has no
How do i come up with a project based on the above topic
You are dissatisfied along with the common level of presentation of one of your team. The quality of work is below your hopes. How will you deal along with this? You could take
Define the implications of dependency problem. Implications of dependency problem: To escape exploitation, underdeveloped countries should gain political, economic and so
Suppose a firm’s budget were large enough to employ 100 units of either labor or capital, the cost of a unit of labor being the same as a unit of capital. The production function i
Consider the economy (above) again where the following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4) for the prices (p 1 , p 2 , p 3 )=(1, 1, 1).
Discuss about the free market economy in short. Free market economy: Households own resources and markets assign resources throughout the price mechanism. An increase wi
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