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Is there an optimum population size for a country?
Optimum (best) population arises while productivity that is output per person is highest.
• An under-populated country can raise productivity by raising its population.
• An over-populated country can raise productivity by decreasing its population.
QUESTION (a) Using diagrams where appropriate, explain the concepts of scarcity, choice and opportunity cost. (b) Distinguish between positive and negative externalities, il
QUESTION (a) Discuss whether international trade between countries is always beneficial. (b) What are the economic reasons for protectionism? (c) Does the National Income
Quantitative demand for watermelons = 50-3P(wm) - 20P(hd) + 10 P(sc) + 0.001(income) P(wm) = $4.00 P(hd) = $3.00 P(sc) = $2.00 Income = $40,000 Quantity supply of watermelons = 2
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(i) Explain the term capital accumulation. (ii) Explain the different views on economic development. (iii) In the golden age of globalization countries, especially develop
QUESTION (a) Analyse the activist and non-activist policy makers' choice between implementing a policy rule or a discretionary monetary policy. (b) Explain why the policy ru
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