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What are the characteristics of growth in developed countries? Simon Kuznets specified some characteristics for all DCs (developed countries) as illustrated below: • Gross
State the term checkpoint in project management methods. Checkpoint in project management methods: The Checkpoint is the ordinary (probably weekly) meeting of a project o
What are the assumptions of unbalanced growth? Development cannot be initiated through one industry. Government recognize strategically significant areas to planned economy or
What happens during a business cycle of economy, and what can be done about it? Business cycle of economy: a. The consequences of recessions and expansions onto unemploymen
QUESTION (a) Explain the law of demand and the factors affecting demand. (b) Explain and illustrate how demand of a commodity will change if there is a tax on that product.
1. Consider the market where there is product differentiation with two firms. The firms are choosing prices p1 and p2 and have demands given by q1 = 40 - 0.5 p1 + p2 q2 = 60
QUESTION In several countries recently, many people have become unemployed. Analyse the different types of unemployment in an economy. Explain the likely causes and conseque
Question 1: "Policy can be conducted by rules or discretion.. The increased role of expectations led to some economists arguing that it would be best to force monetary policy
What is Employment and Unemployment? Employment and Unemployment: Employment: It is the number of people working within the economy. Unemployment: It is the nu
elasticity concept occupies a central place in policy formulation
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