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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?
explain the relationship between scarcity,choice and opportunity cost
Dynamic model
Volume of Trade: It relates to the size of international transactions. Since a large number of commodities enter in international transactions and their aggregate can be found
if a monopolist makes economic profits, new firms enter the market and compete with the monopolist in the long run.
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1. Assessment Criteria The coursework will be marked on the overall outcome including: structure, quality of reasoning, quality of written English, data analysis, referencing, sty
Question 1: (a) Using examples, explain the difference between time-series, cross-sectional, and panel data. (b) Formulate a simple linear equation, and carefully explain
meaning of economics laws
Why were there not any sustained increases in material productivity of human labor back before 1500? Since improved technology quickly ran aground on resource scarcity. As huma
Balance of Payments and Developing Economies: It is well-known in development economics that UDCs invariably start as debtor economies. In the process of development itself, t
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