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How do economists group countries at various stages of development? There are three major forms of classifications: • IMF: Developing and industrial, transitional economi
#question.#quesExamine the expenditure trends over the last 40 years. What are the direction and magnitude of changes in spending in and between these various categories (with the
What are the limitations of comparative advantage? Limitations of comparative advantage: International trade needs wide specialisation. This can have drawbacks as given b
analyse the effect of an increase in the price of sim cards on the equilibrium price and equilibrium quantity of cellphones handsets
How can the size of shadow economy estimated? The size of the shadow economy is estimated when activity is undeclared as the amount of informal activity can be calculated: a
Can national income figures be used to make comparisons of standard of living among countries? National income measures the Gross Domestic Product of country and therefore can
Consider Fig 13-11. 1000 tons/day of moist MSW are processed to yield 700 tpd of RDF product. Raw MSW heat value is 5,000 btu/lb. RDF is 8,000 btu/lb. How did processing increase
In the absence of taxes, subsidies or other distortions, the market demand and supply for bags of cement would be given by Q D = 1500 - 10P and Q S = 140P, respectively, where Q
Aska) Explain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the c
why does the quantity of salt demanded tend to be unresponsive to change in its price?
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