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Problem 1:
i) Is Protectionism always beneficial? Discuss.
ii) To what extent can a country actually rely on the principle of Comparative advantage before engaging in international trade?
Problem 2:
i) To what extent is economic growth beneficial to an economy?
ii) Explain using diagrams why a 10 % increase in investment leads to a higher percentage increase in National Income?
assumptions
Problem 1 : (a) What are the main assumptions behind the macroeconomic theory of New Classical Economists? (b) Describe the Lucas Supply function and explain its policy imp
What is the mathematical definition of price elasticity of demand The price elasticity of demand is the percentage alters in quantity demanded divided by the percentage change
Jane receives utility from days spent travelling on vacation domestically(D) and days
M.Phil. Admission Test, 2017 Economics Model Question Group A Domain Knowledge in Economics Correct answer is as marked in black. Micro Economics 1. Consider a utility function U =
what is the assumption of the model ?
Individual Demand * The Individual Demand Curve - Two significant Properties of Demand Curves - 1) The level of utility which can be attained changes while moving along
MEASURES TO PROMOTE GROWTH: In view of the recent global experience, the following steps need be taken to accelerate the rate of growth. 1) Mastering and constantly improv
Neutrality: Bureaucracy is apolitical and neutral. Prof. Frocderich mentions the following features of bureaucracy: (i) differentiation of functions, (ii) qualifications for o
What is an optimization in the methods of mathematics of modern economics? Optimization is a basic tool for the development of modern microeconomics analysis. Many of economic
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