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How does social capital influence development? Problem: Low social capital leads to potential conflicts and high transaction costs which hinder growth. Several LDCs (Less Deve
QUESTION (a) Explain the Law of demand and the factors affecting demand for a product or service. (b) Explain and illustrate diagrammatically how the market demand for a pro
An agent has a utility function over goods 1 and 2 of the form U = x c 1 x d 2 where c is your 1- digit number and d is your minimum number. The agent's income is equal to you
Problem: i) Evaluate the following statement: "The First Theorem of Welfare Economics states that as long as producers and consumers act as perfect competitors and there ar
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The following data show the interest rates on 4 randomly chosen personal loans (in percents): 6.1, 5.7, 11.1, 9. Calculate the standard deviation of the sample of interest rates. (
QUESTION (a) What are the main types of unemployment? (b) Mauritius has been facing an alarming rate of unemployment during the last 5 years (i) What reasons could explai
explain total productivity
explain the role scarcity of resources plays in economic decision making
Question 1: ‘The WTO was set up with the intention of regulating international trade between countries'. How successful has the WTO been in attaining its objectives? Questi
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