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Question 1: a. Describe the role of trade union in the wage bargaining process. b. Formulate a model that tests for the wage gap between union and nonunion earnings in a
QUESTION (a) Distinguish between monetary and fiscal policy, giving examples where appropriate. (b) Discuss how fiscal and monetary policies might be used by a government du
Suppose an oligopoly consists of three identical firms. Industry demand is P = 100 - 2Q and MC = AC = 20. What is the Cournot–Nash equilibrium output in this industry
How does economic system influence the development process? The development experience of free market or capitalist and command as socialist/communist countries is extremely d
Question The Borneo Shop imports and sells a popular Blue Ray DVD player. The following current information about the business is available: Selling price per play
The reserve requirement is 20%. Assuming banks have no desire to hold excess reserves, calculate the money multiplier. Now assume the banks want to hold 20% of their reserves in ad
Any economic models for this title?
QUESTION a) Explain with the use of appropriate techniques how can an increase in investment spills over to other sectors in the economy and what affects the final impact on ec
In the model with utilities W i = c i + α ln(x i ) where individuals are endowed with ability levels w p m R and form fractions π p , π m , π r with π m > π p , π r
(i) Explain the term capital accumulation. (ii) Explain the different views on economic development. (iii) In the golden age of globalization countries, especially develop
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