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How is the wrong conclusion result in necessary condition not in the sufficient condition?
This is often heard that the market institution must not be used based onto the fact that several countries are market economies but remain poor. The cause this logic results within a wrong conclusion is which they did not realize the adoption of a market mechanism is just an essential condition for a country to be rich, although is not a sufficient condition. Becoming a moneyed country also based on other factors as like political system, culture and social infrastructures. Additionally, no illustration of a country can be established so far that this is rich in the long run, which is not a market economy.
The positive statement state fact whereas normative statement provides opinions or value judgments. Differentiating these two statements can void many needless debates.
Attitude towards Risk: Let's assume the following: The utility function • has the single argument "wealth" measured in monetary units, • is strictly increasing, and
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Optimum currency area: An optimum currency area (OCA), also known as an optimal currency region (OCR), is a geographical region in which it would maximize economic efficiency
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Question 1 (9 marks) During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following mark
Pensions: Pension benefits are paid to individuals who have retired from active employment, in order to support themselves in last years of their lives. Pension programs can be spo
If, for a specific project alternative, the discount rate equals the Internal Rate of Return, then the (discounted) Benefit Cost Ratio will equal unity (i.e., BCR=1.0). Define I
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