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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 of the income and substitution effects of the two models
QUESTION 2
(a) The monopoly union model assumes that union sets wage rate while the firm sets the level of union employment, based on this wage rate. Using appropriate equations and diagram, explain carefully the functioning of the monopoly union model
(b) Comment on the direct and indirect test of the Efficient Contract model
explain ththe test marketing approaches followed by fmcg companys
Discuss (1) the key characteristics of the Chinese economy during the Mao era, (2) the socio-economic shortcomings that China experienced between 1949 and 1976 and (3) t
Question 1 ‘The consumer is always king in the market place'. Critically examine this statement, highlighting the existence of market imperfections. Question 2 (a) Dis
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Net exports normally decrease with the effect when aggregate output decline. When a concretionary fiscal policy is implemented net exports will go up . When government maintain the
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The word double-dip is a negative -situation .This scenario has economically shall move back and switch in to a deeper and longer worse situation. A double dip recession states to
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